FOR IMMEDIATE RELEASE: June 2, 2020
AEDP and City of Alexandria Launch Alexandria Back to Business Grants Program for Small Businesses
Grants will help offset costs incurred by Alexandria businesses negatively impacted by the COVID-19 pandemic associated with reopening and rescaling
Alexandria, Va. – Later this week, the Alexandria Economic Development Partnership (AEDP), a public-private partnership that promotes Alexandria as a premier location for businesses, and the City of Alexandria will launch the Alexandria Back to Business (ALX B2B) grants program. Grants will be available to Alexandria-based, for-profit businesses with 2 to 100 employees that have experienced losses in revenue of 25 percent or greater due to the COVID-19 pandemic.
“The Alexandria Economic Development Partnership and the City of Alexandria recognize our important role in supporting our local businesses in these unprecedented and economically devastating times,” said Stephanie Landrum, President and CEO of Alexandria Economic Development Partnership.
“Alexandria businesses give so much to our community- employment opportunities, tax revenue and philanthropic giving- providing these grants, and as much guidance, flexibility and moral support as possible is our number one priority right now. The Alexandria Back to Business grants program, which will help offset reopening and rescaling costs, supports the safe reopening of Alexandria’s businesses by providing relief for the purchase of PPE, renovations that meet social distancing guidelines, and rent or mortgage costs required to be made in order to reopen.”
Landrum recently presented the finalized program to the Alexandria City Council at their virtual meeting, describing how the grants will provide much-needed capital to Alexandria businesses. The focus on covering reopening and rescaling costs was crafted after talking extensively with the business community, and hearing business owners’ significant concerns about these costs, on the heels of months of devastating impact to business revenues. City Council allocated $2.4 million from the CARES Act funding the City has received that will be added to the previously identified $2 million dollars from the Alexandria Investment Fund, for a total of $4.4 million in local business assistance grants, to be administered by AEDP.
“We want our businesses to reopen and rescale as safely and quickly as possible- City Council acted quickly to provide a portion of the City’s CARES allocation to help as many qualified businesses as possible achieve this milestone,” said Mayor Justin Wilson. “We are so proud of the diversity, entrepreneurial spirit and ingenuity of our small businesses- they continue to inspire us in their resolve and resiliency, and are glad we can play a small role in their return to sustainability, and employment of so many of our residents.”
Grants will be awarded in the amounts of $10,000 for businesses with 2 to 24 employees; $15,000 for 25 to 49 employees; and $20,000 for 50 to 100 employees. To count towards the business size, employees may be full-time or part-time but must have received a W-2 form for 2019.
Applications will be open from 8:00AM on Thursday, June 4th through 5:00PM Monday, June 8th.
For more information, visit the Alexandria Back 2 Business grants webpage.
For inquiries from the news media only, contact Matt Trojan: 202-494-9246, email@example.com (on behalf of AEDP)
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ACCEPTABLE USE OF GRANTS
Acceptable uses for the grant include the purchase of:
- Personal Protective Equipment (PPE)
- Other equipment and supplies to promote health and safety
- Technology to facilitate e-commerce and/or virtual business operations
- Professional services related to the design and construction/alteration of the built environment necessary to promote physical distancing, as well as the actual costs for alterations
- Initial cleaning and disinfection services prior to reopening
- Rent or mortgage costs required to be made in order to reopen/restart
Applicants must be able to demonstrate that they have experienced revenue loss of 25% or more due directly to COVID-19, and that their business will be able to recover and remain sustainable post-COVID. Businesses must also meet the below criteria:
- Licensed in the City of Alexandria
- Located in the City of Alexandria
- In operation as of March 1, 2019
- For-profit entity
- Business is in “good standing”
- Intend to remain in Alexandria
- Business employees between 2-100 W2 employees (full- or part-time)
- Locally owned & operated
SIZE OF GRANTS
The size of available grant funding will be based on number of employees:
- 2-24 employees: $10,000
- 25-49 employees: $15,000
- 50-100 employees: $20,000
ALX B2B TIMELINE
- June 4: Application process goes live
- June 8: Applications close
- Week of June 8: Applications reviewed and evaluated during a 2-week period
- Week of June 22: Applicants are notified of the outcome. Grantees must complete execution of Performance Agreements.
- Week of June 29: Grant awards made to grantees.