Applications Now Available for Community-Based Economic Development Funding

For Immediate Release: January 7, 2009
Contact: Tony Hozeny, Department of Commerce, 608-267-9661

MADISON - Community-based organizations, local governments, and tribes seeking to promote business growth and development will want to apply for project funding through Community-Based Economic Development (CBED) Program in the Department of Commerce (Commerce). Application deadline is January 30, 2009.

"In light of these difficult economic times, Commerce will place a priority on projects that will have an immediate benefit in terms of businesses and jobs created or retained," said Commerce Secretary Richard J. Leinenkugel. "We want to support activities that can show a measurable result in terms of businesses or jobs created. We are also looking for innovative projects that immediately address a specific local economic problem."

Commerce encourages projects that represent collaborations between several economic development organizations or between economic development organizations and local governments.

The CBED Program assists community-based organizations with business assistance projects, and can help them plan, build, and create business and technology-based incubators. Funding is also available for youth entrepreneurship programs and venture capital conferences. Counties, cities, villages, townships, and tribes may apply for assistance to develop an economic development plan for diversifying the local or regional economy, attracting new businesses and jobs, and promoting economic development. A regional project must involve a partnership between a local government and at least one non-profit economic development organization.

Applications are available on the Department of Commerce website under Community Development/applications. For assistance call Doug Thurlow, Grants Specialist, at 608/266-7942 or e-mail him at douglas.thurlow@wisconsin.gov.

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