The city of Erie is investing $20,000 into small businesses by awarding Flagship Fund grant money to five small companies.
Mayor Joe Schember’s administration announced the five recipients of the first round of the Flagship Fund grant program. The small companies, ranging from technology to manufacturing, each received $4,000.
The city’s Director of the Department of Economic and Community Development, Chris Groner, says many of the city’s development tools are geared toward large projects. “You have to have some level of assistance you can offer small businesses, the micro-businesses, the ones that are just now starting off. Some of them are going to succeed. Some of them won’t, but it’s important that you make that investment.”
The Flagship Fund is supported by revenue generated from interest on loans. The next application round begins in January.