The Kentucky Cabinet for Economic Development's Small Business Services Division is dedicated to assisting all small businesses in Kentucky, both start-up and existing. They have the tools you'll need to take your company to
the next level. Some of their programs and services include:
Grant Opportunities with Promise Zone Benefits
CDFI: New Market Tax Credits
Department of Education: Preschool Development Grants: Expansion Grants
Technical Assistance
Choice Neighborhood Webinar: Trauma Informed Community Building in San Francisco’s South Potrero Choice Neighborhood U.S. Social and Behavioral Sciences Team Promise Zones Technical Assistance Webinar
Grant Opportunities
CDFI: New Market Tax Credits
· Submission of CDE Certification Application: August 22, 2014
· Online Submission of Allocation Application: October 1, 2014
· Submission of Subsidiary CDE Certification Application: October 1, 2014
· Online Submission of Application Attachments: October 3, 2014
· Prior Allocatees' Issuance of Qualified Equity Investments: January 30, 2015
· 2014 NMTC Program Awards Announced: Spring 2015
Description:
The New Markets Tax Credit Program (NMTC Program) was established by Congress in 2000 to spur new or increased investments into operating businesses and real estate projects located in low-income communities. The NMTC Program attracts investment capital to low-income communities by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions called Community Development Entities (CDEs). The credit totals 39 percent of the original investment amount and is claimed over a period of seven years (five percent for each of the first three years, and six percent for each of the remaining four years). The investment in the CDE cannot be redeemed before the end of the seven-year period.
Link to Promise Zones:
Community Outcomes begin on p. 23 of the application (p. 37 of the pdf). Promise Zones are included in item 12 on the distress factors list. An applicant will receive favorable competitive consideration if it commits to provide at least 75 percent of its Qualified Low Income Community Investments (QLICIs) – in terms of aggregate dollar amounts – in areas that meet certain distress criteria. One way for a location to meet this standard is to be both within a federally designated Promise Zone and also meet one of several other criteria.
National Entrepreneurship Challenge Focuses on Rural Entrepreneurs and Innovations; Applications Due September 15
On July 24, the American Farm Bureau Federation, in partnership with Georgetown University's McDonough School of Business Global Social Enterprise Initiative
and the Georgetown Entrepreneurship Initiative's StartupHoyas, launched the Rural Entrepreneurship Challenge, the first national business competition
focused exclusively on rural entrepreneurs and business innovations cultivated in rural regions of the United States.
Release No. 0177.14 Contact: Weldon Freeman (202) 690-1384
USDA Seeks Applications for Grants to Increase Economic Opportunity
and Improve the Quality of Life in Rural Areas
WASHINGTON, Aug. 13, 2014 – Agriculture Secretary Tom Vilsack today
announced that USDA is seeking applications for grants that will be awarded
to organizations to provide critical financial and technical assistance to
recipients to develop and strengthen their capacity to carry out housing,
community facilities and community and economic development projects.
