The Iowa Economic Development Authority has announced the Economic Gardening Grant, designed to support local stage two growth companies in identifying new markets. This grant aims to assist businesses in scaling up their operations and creating jobs and wealth within rural communities in Iowa. The program will leverage advanced research tools and analytical frameworks, connecting companies with specialists from the National Center for Economic Gardening. These specialists will provide insights into market opportunities, competitive intelligence, industry trends, digital marketing strategies, and lead generation.

The primary purpose of the Economic Gardening Grant is to facilitate the growth of eligible companies by providing them with the resources needed to expand their market reach. The grant will enable businesses to contract with the National Center for Economic Gardening, which will help them implement strategies to enhance their sales and distribution networks. The funding is intended to cover one-time project expenses that contribute to increased sales in new geographic markets, improved website sales strategies, and the development of expanded distribution channels.

Eligible applicants for this grant include stage two growth companies operating in the advanced manufacturing, value-added agriculture and food production, or information technology sectors. To qualify, companies must be incorporated in Iowa or authorized to conduct business within the state. Additionally, applicants must have been in operation for at least three years, have sales exceeding one million dollars, and employ between ten and one hundred individuals. Projects must benefit communities with populations of 20,000 or fewer and not be contiguous to larger cities.

The grant allows applicants to request funding of up to $5,000 to engage the National Center for Economic Gardening. The grant period will run from December 1, 2024, to June 30, 2026. Applicants may submit only one application per funding announcement, although they can be named as partners in other applications. The grant does not require a matching contribution from applicants.

Submission requirements include providing necessary documentation during the application process, with the applicant being the entity legally responsible for the grant agreement if awarded. The evaluation criteria for applications will focus on the potential impact of the proposed project on the company's growth and the community it serves.

The deadline for submitting applications for the Economic Gardening Grant is October 25, 2024. Interested applicants are encouraged to review the detailed guidelines and ensure they meet all eligibility criteria before applying. For further information, potential applicants can visit the Iowa Economic Development Authority's website or contact the grant administrator directly.