On March 26, the Cook County/Grand Marais Economic Development Authority (EDA) and the Northland Small Business Development Center (SBDC) jointly announced the launch of a Promise Act grant opportunity tailored for business owners in northeastern Minnesota. Pat Campanaro, serving as the Cook County consultant for the Northland SBDC, expressed her pride and happiness regarding the collaboration between the EDA and SBDC.

The competitive Promise Act grant initiative, sanctioned during the 2023 legislative session, aims to extend assistance to businesses and communities grappling with economic adversity induced by the pandemic. The Northland SBDC has allocated $1.1 million in grants for eligible small businesses and certain nonprofits in northeast Minnesota.

The grant application criteria for businesses are delineated as follows:

Grants are accessible to currently operating businesses with gross annual revenues ranging from $10,000 to $750,000, as substantiated by their 2021 and 2022 tax returns or Forms 990. Grant amounts will be determined based on 2022 revenues, with the following tiers:
Revenues of at least $10,000 but not exceeding $100,000 may qualify for a $10,000 grant.
Revenues ranging from at least $100,000 to $350,000 may merit a $25,000 grant.
Revenues between $350,000 and $750,000 may be eligible for a $50,000 grant.
Preference will be given to applicants who did not receive substantial COVID-19 relief funding exceeding $10,000 from the State of Minnesota.

Additionally, according to the Northland Foundation, nonprofit organizations may apply, provided they derive 30 percent or more of their revenue through non-tax-deductible sales or dues in a fee-for-service model.

Grant applications opened on March 26 and will be accepted until May 21. The application form for the Promise Act grant program can be accessed through the provided link.

To facilitate the application process and address queries, Campanaro and Theresa Bajda, the executive director of the EDA, announced weekly open office hours at the EDA office in Grand Marais, located at 425 W Hwy 61, Suite B. Bajda mentioned the availability of morning, afternoon, and evening sessions to accommodate diverse schedules. Interested individuals can find the scheduled office hours by contacting 218-387-3112 or reaching out to Campanaro via email at pcampanaro@gmail.com.

Campanaro emphasized their shared goal of fostering economic opportunity in Cook County and expressed satisfaction in collaborating with Bajda to advance this objective and inform businesses about available services that can positively impact their opportunities for growth.

WTIP’s Kalli Hawkins conducted an interview with Pat Campanaro, the Cook County Northland SBDC consultant, and Theresa Bajda, the executive director of the EDA, discussing the Promise Act grant opportunity. The audio recording of the interview is accessible below.