The Town of Trophy Club's Thrive Business Grant (TBG) Program is designed to bolster local businesses through reimbursable matching grants for various improvement projects. The program aligns directly with the mission of the Trophy Club Economic Development Corporation (EDC), which is committed to driving economic progress, fostering employment opportunities, and enhancing community well-being by developing, facilitating, and financing projects in line with the Economic Development Act. This synergy ensures that the grant initiatives contribute to the broader economic development goals of the town.
The TBG Program primarily targets property owners and tenants situated within the Town of Trophy Club. The overarching impact goals are to enhance businesses' visual appeal and overall competitiveness, ultimately driving economic growth and community prosperity. By providing financial support for improvements, the program aims to stimulate increased business activity, encourage significant financial investments within the town, facilitate revitalization efforts, and ensure the retention or expansion of existing employers.
The program's priorities and focuses are clearly defined through its eligible projects. These include façade improvements such as enhancing exterior appearance, signage, seating, and general property beautification. Interior renovations are also a key focus, covering remodeling enhancements that improve the customer experience and general maintenance like HVAC, plumbing, and electrical upgrades. Additionally, grants can be utilized for equipment purchases to increase operational efficiency and productivity, and for off-site signage to promote and market businesses.
Expected outcomes include a more vibrant business landscape, improved customer experiences, and increased operational efficiency for local enterprises. Measurable results are tied to the program's ability to generate increased business activity, attract significant financial investments, contribute to revitalization, and support the growth of local employment. The EDC's strategic priority is to create a thriving economic environment, and the TBG Program serves as a direct mechanism for achieving this through tangible business improvements and community-wide economic benefits.
The theory of change underpinning the TBG Program is that by offering financial incentives for business improvements, the town can directly stimulate private sector investment and enhance the overall attractiveness and functionality of its local businesses. This, in turn, is expected to lead to greater economic activity, job creation, and a higher quality of life for Trophy Club residents, fulfilling the EDC's mandate to promote comprehensive community well-being and economic development.
