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Incubator gets $1.3M grant to assist Valley businesses

YOUNGSTOWN — The Appalachian Regional Commission awarded a $1.35 million grant to the Youngstown Business Incubator to help small businesses in seven counties, including Mahoning and Trumbull, grow and prosper.

“This funding will assist small businesses in various ways as we help them create online accounting systems, economic platforms and focus on additive manufacturing,” said Barb Ewing, the incubator’s CEO.

The ARC announced nearly $21 million in grants for 21 projects that will impact 211 counties through its Partnerships for Opportunity and Workforce and Economic Revitalization initiative that targets federal resources to communities affected by job losses in coal mining, coal power-plant operations and coal-related supply chain industries.

Thursday’s announcement was at America Makes, the National Additive Manufacturing Innovation Institute, in downtown Youngstown.

ARC awarded about $46 million for 57 projects in September and wanted to provide additional funding for other projects, such as YBI, that came up a little short in the initial round, said Gayle Manchin, the commission’s co-chairwoman.

“These grants are critical to help communities,” she said. “It takes a regional approach. It’s not just about Youngstown, but how Youngstown reaches out and goes much further to other areas. If we grow our little community, OK, that’s good. But if we help grow the region then so many more people will prosper.”

There also will be a third round of funding with an April 29 deadline to apply, she said.

The YBI program will assist small businesses in Mahoning, Trumbull, Columbiana, Ashtabula, Jefferson, Belmont and Monroe counties, Ewing said.

YBI and its partners — including BRITE Energy Innovators in Warren, Valley Economic Development Partners and Eastgate Regional Council of Governments — will help small businesses access capital, pursue procurement opportunities, develop business plans, adopt advanced technologies and support startup formation.

The grant is good for three years. During that time, the grant is anticipated to help 1,444 businesses and create 240 jobs while leveraging about $7.5 million in private investment.

“We want to work with our partners to piggyback on other funding,” Ewing said.

The $1.35 million grant will provide access to business counseling, grant writing, technology enabling counseling, technical assistance workshops and boot camps, counseling for advanced manufacturing projects and supply chain diversity counseling, according to the ARC.

The ARC is an economic development agency of the federal government and 13 state governments, including Ohio, focusing on 423 counties.

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