The first 10 businesses that will receive a combined $500,000 in grant funding through Motor City Match to help them start or expand in Detroit were announced last month. In addition to the 10 grant winners, 87 businesses will receive business planning assistance, expert guidance on the renovation of their space, match-making with Detroit’s top available properties and other assistance to help their business get off the ground.
“These first Motor City Match winners are on the leading edge of Detroit’s growth,” said Detroit Mayor Mike Duggan. “These are companies that will be renovating neighborhood buildings for their businesses, creating jobs and serving the community.”
Launched by Mayor Duggan earlier this year, Motor City Match connects new and expanding businesses with Detroit’s quality real estate opportunities and provides them with the funding and technical assistance to help them open.
Funding for the ten grant-winning businesses ranged from $10,000 to $100,000 to help fill gaps in capital needed for the build out or equipment purchase at their locations.
“Motor City Match is designed to help take businesses from idea to open,” said Detroit Economic Growth Corporation CEO Rodrick Miller. “We have winners with a great business idea who will receive help developing a business plan, others will get help finding the right property for their business, while those that have a location picked out will receive technical support to plan and budget for their needed renovations.”
“There is not another program like Motor City Match anywhere in the country,” said Linda Forte, chair of the Economic Development Corporation of the City of Detroit board of directors. “This $500,000 investment from Motor City Match will help these 10 companies leverage a combined $2.8 million to help them grow in Detroit.”
The next applications window for businesses looking to apply to Motor City Match open on Dec. 1 and closes Jan. 1. Qualification requirements, program guidelines and other application details are available at www.MotorCityMatch.com.
Program Manager, Motor City Match