On August 4th, WEDC Secretary Missy Hughes announced the Main Street Bounceback Grant Program that awards $10,000 grants for small businesses to move into a vacant commercial property. The program is run through the Wisconsin Economic Development Corporation. Sign up to learn more about the program HERE.
The goal of the Main Street Bounceback Grants program is to provide financial support to businesses that move into existing vacant commercial properties, helping to create a foundation for long-term success for themselves and their communities.
The Main Street Bounceback Grants program provides $10,000 to new or existing businesses and non-profit organizations moving into vacant properties in Wisconsin’s downtowns and commercial corridors. Funds can be used to pay leases or mortgages, operational expenses and other business costs related to the newly opened location. The program is open to new or existing businesses opening a new location or expanding operations in a vacant commercial space as of January 1, 2021. Grant funds are available as part of the American Recovery Plan Act and will be distributed by WEDC’s regional partners. Businesses must apply through the partner organization for the region in which they are located.
Main Street Bounceback Grants are available to for-profit businesses and non-profit organizations meeting the following criteria:
- The business is located within the region administered by the regional partner organization to which it applied
- The business either is moving into a vacant commercial space or has moved into a vacant commercial space as of January 1, 2021
- The business can certify that is has not or will not vacate a commercial space in Wisconsin to become eligible to claim this grant
Businesses are ineligible to apply for the grants if they are:
- Part of a national or regional chain, unless the business is an independently owned and operated franchise
- A home-based business or property landlord, unless they are moving their business functions into the vacant commercial space
- Real estate investment firms that intend to hold the property for investment purposes only
- Engaged in any illegal activity under federal, state or local law
Or if they intend to use the space for:
- Storage only
- Residential purposes