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The Cortland County Business Development Corporation (BDC) has announced that over $300,000 dollars has been distributed to area small businesses from Federal COVID-19 Funds.
The BDC has disbursed more than half of the $600k in Federal American Rescue Plan funds the county had awarded to the agency earlier this year. The grants given to small businesses also gained over $200,000 dollars in private investment.
“We are very happy with the results we’ve had so far,” said BDC executive director Garry L. VanGorder. “More than a half a million in economic impact and we’re only halfway through the program. Impressive.”
Over 30 businesses have already received the funding through programs currently. The BDC funded various small businesses throughout Cortland County and also included multiple minority/women owned businesses.
The remaining projects that were awarded funding will be completed by the end of this year with an exception for projects that have been delayed due to supply chain issues, contractor availability, or weather conditions. Those will be scheduled to be completed in 2023.
Three separate grants were organized by the BDC to support small businesses throughout the county. Those included support for new start-up businesses, existing businesses, and funds to incentivize commercial property owners to make repairs and investments to their properties.
