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Recover Colorado Business Grant program accepting applications through December
DENVER – Mon. Dec 4, 2017 – The Colorado Office of Economic Development and International Trade (OEDIT) has grant funding available to assist businesses and nonprofits within 19 Colorado counties with recovery and resiliency efforts from the devastating floods and fires of 2012 and 2013.
The Recover Colorado Business Grant program is accepting applications through the end of year from businesses that suffered substantial economic harm because of the September 2013 floods and Black Forest, Waldo Canyon, High Park and Royal Gorge fires, including any road closures resulting from these federally declared disasters. Grants can be awarded for as much as $50,000 in economic losses. Affected businesses interested in funding must apply by December 31, 2017.
In 2012 and 2013, Colorado suffered catastrophic wildfire and flooding events that profoundly impacted the state’s economy. Economic drivers, including major industries and small businesses suffered enormous economic loss and many are still recovering from the financial devastation.
“Businesses affected by these events not only experienced economic damage but were also challenged by lack of access to their establishments and employees whose lives were disrupted,” said Jeff Kraft, director of the Business Funding and Incentives at OEDIT. “In the years since the disasters, road closures have further contributed to economic hardships. These funds are meant to provide some relief to affected businesses and assist with recovery throughout the community.”
Already over $5.4 million in grant funding has been awarded, and applications are still being accepted. Fifty percent or more of the funds will be allocated to businesses that employ or are owned by low to moderate income individuals.
Funding is available through the Community Development Block Grant Disaster Recovery (CDBG-DR funds) to provide grants and loans to businesses in impacted counties that suffered substantial economic harm. These funds are administered by the Colorado Department of Local Affairs and were assigned to multiple State agencies addressing recovery needs including housing, planning, infrastructure, agriculture and economic development. A portion of the economic development funds enabled the creation of the Business Recovery Grant Program. Funding to assist Colorado in recovery from the 2012 and 2013 disasters was secured by the Colorado congressional delegation and awarded by the Department of Housing and Urban Development.
Businesses and nonprofits in the following counties are eligible to apply for the Business Recovery Grant Program: Adams, Arapahoe, Boulder, Clear Creek, Crowley, Denver, Gilpin, Jefferson, Lake, Lincoln, Logan, Morgan, Sedgwick, Washington, Weld, El Paso, Fremont, Larimer and Teller.