Grant funds available for woman- and minority-owned businesses in Utica

Mayor Galime announces that grant funding is now available for qualifying woman- and minority-owned businesses with five or fewer employees that are located within the city of Utica.  Applications for the grant are available on the City website (www.cityofutica.com) or by contacting Jack Spaeth, Economic Development Specialist at jspaeth@cityofutica.com or (315) 792-0181.

A total of $165,000 has been set aside for this program out of the City’s 2024-2025 allocation of federal Community Development Block Grant funds.  Assistance through the grant program ranges from a minimum of $5,000 to a maximum of $15,000 and can be used for the purchase of capital assets such as machinery, equipment inventory or for working capital or soft costs.  Awardees will be required to complete a training program, such as that available through the Mohawk Valley Small Business Development Center.

Federal regulations require that either the business owner qualify as low- to moderate-income at time of award or at least one job be created that is available to persons of low- to moderate-income. 

Of this new program, Mayor Galime stated “Small businesses are the backbone of any thriving community, including Utica.  Given the diversity of our city, I have long felt that it was important to offer financial assistance to emerging entrepreneurs and business start-ups.”