The Orange County Business Investment Grant Program aims to stimulate the development and expansion of non-farm businesses within Orange County, North Carolina. This initiative directly aligns with the county's mission to foster economic development, nurture its entrepreneurial ecosystem, and support existing businesses alongside early-stage ventures. By providing financial resources, the county seeks to generate new job opportunities, enhance the economic landscape, and grow the commercial tax base, thereby strengthening the overall prosperity of Orange County.
The program targets businesses physically located in Orange County, North Carolina, specifically in appropriately zoned areas. This includes both traditional and home-based businesses, with specific requirements for operational history depending on the grant type. Startup Grants are designed for businesses operating for less than six months and connected with business counseling services. Small Grants are for businesses in operation for at least six months, and Large Grants require at least 12 months of operation. This tiered approach ensures support for businesses at various stages of growth, from nascent startups to more established enterprises looking to expand.
The program prioritizes businesses that are current with all Orange County taxes, fees, and fines, and any existing Orange County small business loan payments. It also focuses on preventing duplication of benefits, ensuring that no single business or affiliated owner receives more than $10,000 from various county grant programs over a two-year period. Ineligible applicants include businesses with financial or ownership interests from Orange County elected officials, administrative grant program staff, or review committee members, as well as applicants who have taken legal action against the County within the past 12 months.
Expected outcomes of the program include a robust entrepreneurial ecosystem, increased employment opportunities for residents, and a stronger commercial tax base for Orange County. Measurable results will likely be tracked through the number of businesses supported, the amount of grant funding disbursed across the three categories (Startup, Small, and Large), and the reported job creation by grant recipients. The program's theory of change posits that by making accessible economic development grant funds available, the county will directly stimulate business growth, leading to a more vibrant local economy and improved opportunities for its citizens.
