Business Development Grant Program 2025

The Business Development Grant Program, offered by the Town of Perryville, Maryland, is designed to stimulate economic development within the town's corporate limits. Its primary objectives are to foster new job opportunities, reduce the number of vacant storefronts, encourage business diversification, attract additional private sector investment, and promote in-fill business development. This program aligns with a strategic goal of local government to create a vibrant and sustainable economic environment, though specific "foundation mission alignment" beyond this general goal is not explicitly stated as this is a municipal program rather than a private foundation. The target beneficiaries of this program are new and existing small businesses located within the Town of Perryville. The program aims to support these businesses by providing funds necessary for operational needs, thereby ensuring their financial viability and encouraging growth. The ultimate impact goals include strengthening the local economy, increasing employment, and enhancing the overall business landscape of Perryville. The emphasis on filling vacant storefronts and encouraging diversification suggests a focus on revitalizing commercial areas and expanding the range of goods and services available to residents and visitors. The program prioritizes a broad range of eligible uses for funds, including building improvements, the purchase of machinery, equipment, furniture, fixtures, inventory, property acquisition or leasing, and advertising campaigns. This comprehensive approach reflects a strategic priority to support various aspects of business development and expansion. The eligibility criteria further refine the program's focus, requiring applicants to be in good standing with the Town, Cecil County, and the State of Maryland, and to operate within specific zoning districts (Neighborhood Business, Town Center, Highway Commercial, Residential Marine, Commercial Maritime, and for existing businesses, Residential districts). This indicates a deliberate strategy to concentrate development in designated commercial and mixed-use areas. Expected outcomes and measurable results include an increase in new job creation, a reduction in the number of unoccupied commercial properties, a more diverse local business sector, and a rise in private sector investment. While specific metrics are not detailed in the provided information, the program's objectives inherently suggest these as key performance indicators. The "theory of change" underpinning this grant is that by providing financial assistance for operational needs and growth initiatives, the Town of Perryville can directly stimulate business activity, which in turn will lead to economic growth and community benefits. This proactive approach by the municipality serves as its strategic priority for economic development.