ED/GE grant program celebrates 30 years of fostering business growth
The Montgomery County Economic Development/ Government Equity (ED/GE) grant program is celebrating 30 years of financing permanent improvement projects that are sustaining area businesses and fostering growth.
“We’re committed as a community to helping our businesses grow,” said Gwen Eberly, planning and economic development manager for Montgomery County. “We are doing everything we can to leverage public funds the best way we can. That return on investment is what we’re all about.”
That return on investment is substantial. For every $1 in ED/GE investment, there is $50 of private investment. About 80% of ED/GE investment assists companies that are already in Montgomery County.
More than $1.6 million in ED/ GE funding was committed to companies during the spring funding cycle. That included support of companies in Dayton, Washington Twp., Union, Clayton, and Vandalia which will bring more than 1,390 new jobs to our county.
Snack food manufacturer and distributor Mikesell’s received $100,000 in ED/GE grants so they could bring their puffcorn product line back to Dayton. Their total investment of $1.8 million includes equipment, renovations and installation costs. It also adds 10 additional jobs to their 62-person workforce.
“Our investment in Mikesell’s facilitated a substantial capital investment by reducing the cash equity required to start this project,” said Montgomery County Commissioner Debbie Lieberman. Lieberman, along with fellow County Commissioner Judy Dodge, sits on the ED/GE Advisory Committee. “It helps the company, and it helps our county by creating new jobs and reinvesting in communities.”
There are 15 members serving on the ED/GE Advisory Committee, including representatives from area cities and townships, and three members appointed by the Dayton Area Chamber of Commerce. The primary goals for the grants are to invest in growth industries, preserve local businesses and create/retain jobs.
“We’ve seen real community impact through the ED/ GE grant program in that we kept companies from leaving our area and we created thousands of jobs over the past 30 years,” Dodge said. “Businesses need to know that we support their growth, and this is a very tangible way that we show that.”
The $2.5 million ED/GE program is funded from sales tax, which is why the county encourages people to buy goods in Montgomery County. ED/GE applications are submitted through jurisdictions. The deadline for the fall application cycle is Nov. 1. Contact Pam Fannin at 937-225-6140 or fanninp@mcohio.org for more information on how to apply.