By Kevin Jenkins | April 6, 2023 | 0
Southeast Economic Development Fund Inc. (SEED$) recently announced it was awarded $250,000 through the Missouri Department of Economic Development (DED). SEED$ was one of 70 organizations statewide selected to receive a portion of the $94.15 million available through the Community Revitalization Grant Program. The program, funded through the American Rescue Plan Act (ARPA), is focused on investing in communities of all sizes to support local priorities, encourage economic recovery and build resilience for the future.
“The grant will allow us to expand our training and technical assistance program,” said SEED$ Business Development Specialist Heather Garner. “We will add a full-time staff member dedicated to providing training as well as enhance our meeting and conference capabilities.”
Currently, SEED$ offers Money Smart for Small Business, Business Plan Basics and individualized services based on clients’ needs.
Since 2014, SEED$ has provided small business development services such as one-on-one coaching, financial literacy, training assistance, technical assistance, and microloans in Southeast Missouri. Their service area includes St. Francois, Washington, Iron, Madison, Ste. Genevieve, Perry, Bollinger and Cape Girardeau counties. During the pandemic, in-person services declined but staff have seen a significant increase in entrepreneurs and small business owners seeking guidance over the last year.
“We receive several calls a week from people looking to start their own business and they aren’t sure where to start or are looking for help writing their business plan. We also work closely with local lenders who refer clients who might need guidance,” said Garner. “It’s exciting to see new businesses opening up and thriving after so many closed during the pandemic. Being a part of an entrepreneur’s business journey from idea to doors-open is something special.”
According to Lending Specialist Laddie Cross, SEED$ has worked in the last six months with four new businesses that have added 20 jobs to the area.
“Creating jobs is a key component of the SEED$ mission. We’re happy to be able to provide services that expand job growth and commerce in southeast Missouri,” he said. “We get the joy of watching an excited person come in and we get to help make their dream of starting their own business happen.”
There is no limit to the type of business that can receive services through SEED$, although the grant focus is on small businesses with 50 employees or fewer. According to Garner, this makes up the majority of the businesses with which they work.
“Most of the business owners and entrepreneurs we assist are husband-and-wife teams or a single-person business owner who may employ only a handful of employees. However, there have been some larger businesses we have worked with over the last nine years. One of the premises of SEED$ is adding jobs to the communities we serve, so that’s something we always encourage.”
Southeast Economic Development Fund Inc. was the only organization in this area to receive funds through the Community Revitalization Grant Program. The Community Revitalization Grant Program was launched in September 2022. The program awarded competitive grants to applicants, including municipalities, counties, and nonprofit organizations, to benefit households, communities, and small businesses affected by the pandemic. Grant awards will fund a variety of projects, such as downtown property renovations, business skills training, homelessness prevention and more.
“We’re excited to announce these significant investments through the Community Revitalization Grant Program to help strengthen our communities and the future of our state,” said Missouri Gov. Mike Parson. “As we continue our work to ensure our state’s economy remains strong, these grant awards will make a real difference for local communities. Projects funded through this program will benefit Missourians all across our state by supporting critical services and addressing local needs.”
“This program will have a real, positive impact on Missouri communities while supporting our state’s economy today and in the future,” said Maggie Kost, acting director of the Department of Economic Development. “Thriving communities mean a thriving economy and more opportunities for Missourians to prosper. We’re grateful to help achieve that through strategic investments in local areas that need support the most.”
“This program will be transformational in its impact on citizens from all walks of life in communities throughout our state,” said Shad Burner, director of federal initiatives for the Department of Economic Development. “Communities of all sizes and regions have experienced major difficulties in recent years, and our team has worked hard to make the most of this historic opportunity to provide assistance. After many months of planning and collecting public feedback, we’re proud to announce the award of grants that will improve the lives of fellow Missourians while strengthening the places they call home.”
Details on recipients of the Community Revitalization Grant Program are available
