Holst: JEDC making headway on business grant program

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Thursday, September 10th, 2020 3:13pm

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Juneau, Alaska (KINY) - The Juneau Economic Development Council is awash in applications for the CBJ Business Sustainability Grant program.

According to Executive Director Brian Holst, there is a large demand for the program and JEDC has received applications that appear to exceed the funds available. 

If that happens, Holst said the organization will pro-rate awards.

"We received 400-plus applications by the August 31 deadline," Holst said. "We have requests for Abbreviated in the amount of $7,903,406, Expanded in the amount of $4,232,619, and Express in the amount of $277,854."

This brings the total expected amount requested to about $12.5 million.

"We expect that this number will decrease as we process," Holst added. "However, our best guess is we have about $10.5 million in potential awards. The CBJ Assembly appropriated an additional $8.5 million for this phase of the program. Given that the request exceeds the amount of funds available, we are required to process all applications before issuing any awards. This will take our team several weeks. The JEDC team has already begun processing applications and many of you have been contacted."

For information on the programs, email [email protected].

 

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