Community-Based Economic Development Program (CBED)

The Community-Based Economic Development Program (CBED) provides financing assistance to local governments and community-based organizations that undertake planning or development of projects or that provides technical assistance services that support of businesses (including technology–based businesses) development.

• Cities, villages, towns, counties, tribes and community-based organizations may apply for planning funds.
• Community-based organizations may apply development, revolving loan or entrepreneur training funds.
• Applicants seeking planning, development projects and assistance grants must provide a 25 percent cash match; those seeking incubator grants or regional grants must provide at least a 50 percent match.
• Applicants seeking incubator grants must have an authorized graduation policy.
• Technology based incubators are strongly encouraged.
• Applicants seeking incubator grants may not receive more than two technical assistance, two start-up or expansion, five operations.

Planning, Development Projects and Assistance Grants

• Grants of up to $30,000 to fund non-profit organizations to assist small businesses, develop economic development project plans or to undertake an entrepreneur-training program for at-risk youth.

Business Incubator & Technology Based Incubator Grants

• Grants up to $100,000 for unique regional projects which are collaborative efforts between community-based organizations or local units of government.
• Grants of up to $10,000/year for technical assistance in developing a feasibility study or the initial design of an incubator start-up or expansion project or to improve the operation of an incubator.
• Grants of up to $100,000/year to start, rehabilitate or expand an incubator.
• Grants of up to $30,000/year to fund operations of an existing incubator.
• Grants of up to $75,000/year for a venture capital development seminar.

Venture Capital Fair

• Grants of up to $75,000 for a venture capital development seminar.

Regional Economic Development Grants

• Grants up $100,000 for unique regional projects which are collaborative efforts between community-based organizations.

The recipient is responsible for project administration. This includes submitting requests for funds; progress reports; close-out reports; and complying with other contractual obligations.

Information regarding the CBED Program may be obtained by contacting Doug Thurlow at (608) 266-7942.