The Newport Economic Development Commission is pleased to announce a new program for local retail, commercial and manufacturing businesses. The Business Enhancement Grant program will allow local businesses to access high quality consulting services to find ways to grow and enhance their business in the face of increasing competition. Any business in the Newport area that is interest in participating in this program can download the application below and submit it to the Newport Economic Development Commission for consideration. The NEDC has approved funding in this year's budget for up to 10 businesses to participate in the grant program.
Retail and Commercial Program
The Newport Economic Development Commission has entered into a MOU with alt.consutling to provide business consulting services to businesses in the Newport area. Local businesses can apply for the services and once approved can receive a Stage 1 Grant that will cover 100% of the $1,500 for 21 hours of dedicated business consulting to help with a wide range of areas in the business, including but not limited to marketing, finding your niche in the local market place, basic bookkeeping, cash flow management, businesses appearance and much more. Businesses that successfully completes a Stage 1 grant can then apply for a Stage 2 Grant that will provide an additional 16 hours of services with the NEDC providing 80% of the cost and the business providing 20% of the cost. If a local business completes both Stage 1 and Stage 2 Grants they will receive 37 hours of comprehensive consulting valued at $2,590 for an out of pocket cost of $224.
The Newport Economic Development Commission has entered into an agreement with Arkansas Manufacturing Solutions to provide manufacturing consulting to Newport area manufacturers. Local manufacturers can apply for a Stage 1 Grant which will cover 100% of the initial $1,500 comprehensive business assessment provided by Arkansas Manufacturing Solutions. Companies that successfully complete the initial assessment and have a desire to make the recommended changes can then request a Stage 2 Grant which will cover 50% of the cost of training and consulting up to a total Stage 2 Grant amount of $7,500. So a company completing Stage 1 and Stage 2 Grants can receive $16,500 worth of assessment and consulting services for a total out of pocket cost of $7,500.
To apply for either program, please complete the application below and return it to the Newport Economic Development Commission by fax, 870-523-1055, email, firstname.lastname@example.org, or mail, 201 Hazel Street, Newport, Arkansas 72112.