The New Ulm Economic Development Authority (EDA) has announced the opening of the Small Business Incentive Grant application window, running from November 1, 2024, to December 31, 2024. This grant program is designed to support the growth and establishment of local small businesses while fostering economic development within the New Ulm community. Applications must be submitted exclusively through the designated online portal.

The program focuses on businesses in the following priority sectors: restaurants, retail, childcare, and light manufacturing. While funds are limited, the EDA anticipates awarding five grants in 2025. Submission of an application does not guarantee funding, as applications will be evaluated based on eligibility and alignment with program goals.

To apply, businesses must meet specific eligibility criteria and follow the outlined application process. Complete details regarding eligibility requirements and submission instructions are available at www.newulmbusiness.com/incentives. Applications must be submitted online by the December 31, 2024, deadline.

For additional inquiries or support, applicants can contact Heather Bregel, Economic Development Director for the New Ulm EDA, at (507) 233-2107 or via email at HeatherB@newulmmn.gov. Further information can also be accessed on the EDA's website at www.newulmbusiness.com.

This initiative represents a targeted effort to strengthen local small businesses, particularly those in key sectors vital to the community's economic landscape. Entrepreneurs are encouraged to prepare and submit their applications promptly to be considered for this opportunity.