City, County Boost Business IncentivesPosted: Updated:
The City of Kokomo and Howard County have made adjustments to multiple business incentive programs. The funding involves facade improvements in the city and startups locating to the county. October 28, 2013
KOKOMO, Ind. - The City of Kokomo and Howard County Government have announced new funding and eligibility requirements for several collaborative business incentive programs intended to cultivate sustainable retail development.
The City of Kokomo has increased funding for its Fa?ade Improvement Program, which provides financial assistance for retail and commercial buildings in the greater downtown area as well as buildings of historical significance. The program covers 50 percent of eligible building fa?ade enhancements and requires a dollar-to-dollar match. The Fa?ade Improvement Program now provides up to $7,500 for fa?ade improvements.
Howard County Government will assist eligible start-up businesses locating in downtown Kokomo with a $5,000 grant through its rent abatement program for the first year. Participating businesses may be eligible for a $2,500 grant for capital expenditures during the second year.
The Greater Kokomo Chamber of Commerce will require business owners to attend a business course designed for new entrepreneurs taught by a Small Business Development Corporation business advisor. The Chamber of Commerce will pay the tuition for the course.
The facade program facilitates downtown revitalization and assists with the preservation of Kokomo's historic architecture and fosters commercial and retail development. "In addition to the improved streetscapes, these incentives also provide an economic impact for the downtown businesses and those along the adjacent corridors," said Kokomo Mayor Greg Goodnight.
"The County's business incentives, in conjunction with the City's fa?ade program, will bring lasting benefits to the city and community as a whole through jobs and tax revenue," said Paul Wyman, Howard County Commissioner.
Questions may be directed to Steve Whikehart, Development Director for the City of Kokomo, at 765-456-7375 or firstname.lastname@example.org
Source: The City of Kokomo