Entrepreneurship Initiative Approved Projects: Maryland
PROJECT: Appalachian Maryland E-commerce Cultural Network
GRANTEE: Microenterprise Council of Maryland
Purpose: To develop a new WEB site that promotes arts and crafts, and tourism.
Funding:
| ARC: |
$46,198 |
| Other Federal: |
$0 |
| State: |
$80,100 |
| Local: |
$17,100 |
| Total: |
$143,398 |
Description: The project will underwrite the development of a new web site that builds on 2 existing web sites that serve western Maryland's arts, crafts, and tourism industries. The project will also support the development of promotional materials – brochures, and magazine articles, as well as promotional pieces on television. The new web site will provide outreach marketing services to art entrepreneurs along with promoting existing cultural heritage tourism in the 2 county area. The web site will also support new initiatives that will support and preserve local cultural events. The project is a joint venture with Frostburg State University, The Garrett County Community Action Committee, The Microenterprise Council of Maryland, The Allegany Arts Council, and the Maryland State Arts Council.
PROJECT: Cumberland Economic Development Program
GRANTEE: Cumberland, City of
Purpose: To facilitate additional business development in downtown Cumberland.
Funding:
| ARC: |
$70,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$123,497 |
| Total: |
$193,497 |
Description: This project continues the work of both the Cumberland Main Street Initiative and the Business Information Center. Both programs were operated separately in previous years. Over the past year, the Main Street Initiative facilitated additional business development in downtown Cumberland. Also, the Applicant continued to operate the Business Information Center (BIC) where potential business owners could access pertinent information and resources concerning their small business, essentially serving as a "one stop" small business assistance location. The BIC will be operated by an Office Manager/Counselor who will also provide technical assistance to potential entrepreneurs and existing entrepreneurs. The BIC will also be staffed by the City of Cumberland's Economic Development Specialist. Projected outcomes include the involvement of 120 participants, the creation of 5 new businesses, and the creation of 15 new jobs. Additionally, the grantee will serve 3 businesses.
PROJECT: Cumberland Main Street Entrepreneurial Initiative
GRANTEE: Cumberland, City of
Purpose: To support entrepreneurial activity in downtown Cumberland.
Funding:
| ARC: |
$15,000 |
| Other Federal: |
$0 |
| State: |
$5,000 |
| Local: |
$17,676 |
| Total: |
$37,676 |
Description: This project provides professional management for the City of Cumberland for the implementation of a comprehensive downtown revitalization program. The program focuses on getting people into business by reducing the risk factors by providing technical assistance and a high level of promotional and marketing activity. Activities include: development of a retail incubator to provide a low-risk venue for retailers; referral of applicants to a Lenders Loan Pool; support for local business in seeking state and local permitting and financial support; and organizing local special promotional events.
Completed outcomes during the grant period included the creation of 17 new businesses, the expansion of 6 existing businesses, the creation of 100 full-time jobs and 49 part-time jobs, 7,340 volunteer hours, and public and private capital expenditures of $5,658,735.
PROJECT: Cumberland Main Street Entrepreneurial Initiative, Phase II
GRANTEE: Cumberland, City of
Purpose: To continue to provide professional management through the Downtown Development Commission on behalf of the City of Cumberland for the implementation of a comprehensive downtown revitalization program.
Funding:
| ARC: |
$15,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$22,676 |
| Total: |
$37,676 |
Description: The purpose of this project was to continue to support entrepreneurial activity in downtown Cumberland. During the second quarter of 2003, 11 new businesses opened in Downtown Cumberland creating 25 full time and 25 part time positions. The total capital investment in the area for the same three month period exceeds $453,000.00 The Downtown Cumberland Business Association is working on a banner project that will connect several adjacent neighborhoods. The Summer in the City program is attracting several thousand people weekly to more than 65 festivals and events. Over 10,000 brochures have been distributed and media coverage has been extensive. The Downtown Managers in a five year period have formed partnerships with an unprecedented number of agencies and organizations to target the Downtown pedestrian mall as the heart of the community.
PROJECT: Economic Opportunities for Women
GRANTEE: Women's Business Institute, Inc. (WBI)
Purpose: The provide quality training, counseling, and technical assistance to prospective female entrepreneurs, with special emphasis on the recruitment of economically and socially disadvantaged women, including those on welfare.
Funding:
| ARC: |
$95,200 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$56,495 |
| Total: |
$151,695 |
Description: During the grant period the grantee vigorously developed partnerships and affiliations with non-profits, government organizations, and businesses in the region. The grantee also established four branch offices, two inside the region (Cumberland, MD and Keyser, WV), and an online business assistance service. About 2,000 individuals were impacted by all of the project's networking programs. A government-focused Procurement Fair attracted 35 exhibitors and 320 area businesses. The WBI delivered 31 training programs to 547 clients and provided business counseling to 239 clients. WBI also helped 12 clients to obtain financing to start their own businesses. One of the lessons the grantee learned was how difficult it was in Appalachia to attract students to training programs and how difficult it was for many of them to pay for the services. The grantee also realized that it needed more intense marketing efforts to reach potential clients and that it needed to continue partnering with other organizations in order to become sustainable.
PROJECT: Economic Opportunities for Women, Phase II
GRANTEE: Women's Business Institute, Inc. (WBI)
Purpose: To continue to provide quality training, counseling, and technical assistance to women entrepreneurs, with special emphasis on economically and socially disadvantaged women.
Funding:
| ARC: |
$134,215 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$67,424 |
| Total: |
$201,639 |
Description: The project was designed to deliver entrepreneurial training and counseling services to clients in the Appalachian region. The grantee organized its Second Annual Procurement Fair which gave businesses in the area the opportunity to learn more about, and pursue contracting opportunities with, the federal government. Thirty-five exhibitors and approximately 230 clients attended this event. The grantee also developed an office infrastructure by opening the BIC and Retail Incubator in Cumberland, MD this year. WBI also delivered 48 training programs to 755 clients and provided business counseling to 84 clients. The grantee was instrumental in assisting 9 clients open retail businesses in the incubator leading to the creation of 9 new businesses and 9 new jobs. One of the lessons the Women's Business Institute learned from its program in the Appalachian region is the difficulty of attracting students to training classes and their ability to pay for such training in a rural area. In addition, the grantee learned that it will need more intense marketing efforts to reach potential clients, and also need to continue locating additional partners to help in these efforts - including providing more resources to WBI.
PROJECT: Economic Opportunities for Women, Phase III
GRANTEE: Women's Business Institute, Inc. (WBI)
Purpose: To continue to provide quality training, counseling, and technical assistance to women entrepreneurs, with special emphasis on economically and socially disadvantaged women.
Funding:
| ARC: |
$54,500 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$78,406 |
| Total: |
$132,906 |
Description: The project was designed to deliver entrepreneurial training and counseling services to clients in the Appalachian region. During the grant year, the grantee provided 191 counseling sessions, 120 of which were conducted in one-on-one sessions. The grantee also provide 28 training programs that attracted 372 attendees. Project outcomes included 12 new business startups and 31 jobs created. The SBA Office of International Trade selected WBI to organize and provide a three-day training program in Cumberland, MD to Egyptian citizens who will operate women's business centers and business information centers in Egypt. Two WBI employees also received FastTrac training. In addition, the grantee conducted its Third Annual Procurement Fair. One of the problems the grantee continues to have in Appalachia is the inability of many of its clients to pay for services, thus adversely affecting the amount of its program income and attendance at its training events.
PROJECT: Frostburg Entrepreneurial Internship Program
GRANTEE: Frostburg State University
Purpose: The Frostburg University Business Administration Department will start a program placing Frostburg University Business students in small entrepreneurial companies located in Appalachian Maryland.
Funding:
| ARC: |
$12,503 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$39,776 |
| Total: |
$52,679 |
Description: During the grant period, 14 student interns from the Appalachian Region participated in the Internship program, which involved placements with 12 companies in the Region. The grantee determined there was limited demand for this Internship Program from students who are residents of the target communities.
PROJECT: Frostburg State University Center for Community Partnerships, Maryland
GRANTEE: Frostburg State University
Purpose: To create a Center for Community Partnership (CCP) that is located at Frostburg State University's College of Business and that serves Western Maryland by enhancing business productivity and job retention/creation and by assisting other government agencies and community partners in business retention/expansion.
Funding:
| ARC: |
$50,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$83,325 |
| Total: |
$133,325 |
Description: The Center for Community Partnership (CCP) will provide business development, student learning, faculty expertise, and business partners through five tasks, including: (1) Development of Resource Center, (2) Designing and Implementing Student, (3) Partnerships/Internships, (4) Professional Training, (5) Business-Related Workshops, and (6) Consulting Partnerships. The CCP will serve at least three specific constituencies: (1) Displaced workers: CCP will provide resources to help entrepreneurs start or expand businesses, as needed, and will provide workshops, (2) Community organizations and businesses, and (3) Frostburg State University (FSU) students: Enable FSU students with latest knowledge in technology and discipline to gain hands-on experience through assisting the community businesses. Outputs include: (1) 8 - 10 businesses will participate in the training programs, (2) 8 - 10 training seminars will be held, and (3) 40 - 50 students will participate in the training programs.
PROJECT: Garrett County Micro Business Partnership
GRANTEE: Garrett County Community Action Agency (CAA)
Purpose: To develop a micro loan program, with corresponding training and support in business management.
Funding:
| ARC: |
$50,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$233,969 |
| Total: |
$283,969 |
Description: The Garrett County Community Action Agency has a micro loan fund, Microworks, that provides financial, training, and technical assistance to individuals interested in starting a new business. Training is provided in partnership with the Garrett Community College and the University of Maryland's Cooperative Extension Service. Networking and peer counseling are available through the Garrett County Chamber of Commerce.
Completed outcomes of the project for the grant period include creating 14 new jobs and 8 new businesses, and adding to the self-sustainability of 19 other businesses. Additionally, 45 participants have received assistance in promoting their products to new markets, and 30 microbusinesses were enrolled in training programs. Also, Keystone Financial Corporation has re-capitalized the loan fund with a $120,000 loan and Microworks has received a USDA IRP award to re-capitalize the fund.
PROJECT: Garrett County Microbusiness Partnership, Phase II
GRANTEE: Garrett County Community Action Agency (CAA)
Purpose: To continue to provide training and technical assistance to the 17 businesses funded to date so that they have a good chance to succeed.
Funding:
| ARC: |
$120,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$170,000 |
| Total: |
$290,000 |
Description: The Garrett County Microbusiness Partnership continues to make business loans and provide business support services to entrepreneurs. Activities include providing a series of educational seminars on product development and access to markets, publicizing the availability of MicroWorks through community events and radio ads, developing an ecotourism plan, and recapitalizing loan funds.
Out of 26 participants in the Garrett County Microworks program, 22 are still active in the original business they were mentored through in the program. The rest are in a re-organizational phase primarily working to find a different economic niche in which to work towards becoming self-employed. The project also resulted in the creation of 25 full-time jobs and 2 part-time jobs.
PROJECT: Garrett Information Enterprise Center Works
GRANTEE: Garrett Community College
Purpose: To provide information technology businesses in the region with skills assessment and a just-in-time training plan in the areas of leadership, financial management, and technical expertise.
Funding:
| ARC: |
$40,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$10,527 |
| Total: |
$50,527 |
Description: The grantee has created a computerized database with information on technical assistance, financing options, and business planning and has created a computerized assessment and training program for entrepreneurs. Garrett Community College also hosted a seminar for information technology businesses during Fall 2000 to increase awareness about the linkages between entrepreneurial skills and resource utilization in successful businesses. On June 22, 2002, the Garrett Information Enterprise Center (GIEC) had its grand opening with six charter incubator tenants in the building. These businesses have created 16 new jobs in Garrett county and are expected to create up to 50 more jobs over the next 3 years. Three of these businesses are start-ups and 3 have opened satellite offices in the grantee's technology incubator building. The grantee has marketed its services and the GIEC building in Maryland, Virginia, Ohio, West Virginia, and Pennsylvania. GIEC provides a combination of support services and resources designed to meet the needs of young technology businesses. Through its Technology Opportunities Conference, attended by 234 persons, and through the implementation of its www.giecworks.com website, the grantee continues to help businesses understand the linkage between entrepreneurial skills and resource networks.
PROJECT: Mountain Maryland Entrepreneurial Development Center
GRANTEE: Mountain Maryland Entrepreneurial Development Center, Inc. (MMEDC)
Purpose: To promote, foster, finance, and serve entrepreneurship in Western Maryland.
Funding:
| ARC: |
$73,918 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$98,783 |
| Total: |
$172,701 |
Description: The grantee will develop a Business Resource Center to provide technical assistance to entrepreneurs, sector specific and peer driven forums, and networking opportunities. The grantee also seeks to develop the Mountain Maryland Ventures fund to provide seed and early stage capital to technology start-ups and high growth companies. During the grant period the grantee identified 15 angel investors to seed an Economic Development Venture Capital Fund. Training programs for entrepreneurs and investors have been organized, and co-sponsorships are in place. The grantee has provided business consulting to 9 businesses and has had a total participation of 60 persons in its angel investing forum program.
PROJECT: Mountain Maryland Entrepreneurial Development Center, Phase II
GRANTEE: Mountain Maryland Entrepreneurial Development Center, Inc. (MMEDC)
Purpose: To develop and implement programs as part of an overall strategy to stimulate and support entrepreneurship in the western Maryland region.
Funding:
| ARC: |
$20,000 |
| Other Federal: |
$90,000 |
| State: |
$38,142 |
| Local: |
$0 |
| Total: |
$148,142 |
Description: The programs in development at the MMEDC provide support for the creation of new companies through the provision of investment capital and technical assistance support provided through local business incubators. In addition, MMEDC seks to develop a local employee base that is capable of staffing technology companies. The grantee has enhanced entrepreneurship through several of its programs. Mountain Angels Network has served 13 businesses, grown to 37 investor members (including 10 venture capital funds) and served over 79 investor participants at hosted events. The New Venture Investment Series has hosted 74 participants to date. The January 2002 GrowthNet event hosted 32 participants, and provided a networking opportunity that ultimately allowed a local entrepreneur to obtain an $80,000 loan. 12 clients were assisted in raising more than $1.7 million of capital and creating 12 new jobs. Mountain Mentors has matched 3 companies with mentors and further mentor recruitment is ongoing. Through these current programs, the MMEDC has collectively served more than 25 companies, 150 entrepreneurs, and 37 investors over the grant period.
PROJECT: Mountain Maryland Entrepreneurial Development Center, Phase III
GRANTEE: Mountain Maryland Entrepreneurial Development Center, Inc. (MMEDC)
Purpose: To continue to develop and implement programs as part of an overall strategy to stimulate and support entrepreneurship in the western Maryland region.
Funding:
| ARC: |
$54,500 |
| Other Federal: |
$90,000 |
| State: |
$41,500 |
| Local: |
$100,000 |
| Total: |
$286,000 |
Description: The MMEDC has streamlined its previous programs into a slightly narrower set of offerings. The new programs include the Mountain Angels Network, Business Consulting and the Business Assistance Advisory Board, Mountain Mentors, and the Rural West Loan Fund. The grantee has offered over 500 hours of direct consulting to client companies during the grant period. Also, the Network currently serves 49 individual and institutional members. The grantee has served 13 new businesses, helped create 7 new businesses and 31 new jobs, matched 7 businesses with investors, and stimulated $3,235,000 in private capital formation. The MMEDC's plans for self-sufficiency include the development of the Rural West Loan Fund and a contract with a private venture capital firm to provide consulting services for its portfolio and prospect companies. The MMEDC has also considered doing work fee-for-service consulting for companies.
PROJECT: Mountain Maryland Entrepreneurial Development Center, Phase IV
GRANTEE: Mountain Maryland Entrepreneurial Development Center, Inc. (MMEDC)
Purpose: To develop and implement programs as part of an overall strategy to stimulate and support entrepreneurship in the western Maryland region.
Funding:
| ARC: |
$29,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$38,500 |
| Total: |
$67,500 |
Description: This is the fourth phase of a project by the MMEDC. The grantee will continue providing its current programs. The MMEDC has developed a portfolio of programs that together fill several gaps in Western Maryland's entrepreneurial support system. These primary programs include; the Mountain Angels Network, the Rural West Fund, and the MMEDC's business consulting activities. In the current project phase, the MMEDC will provide in-house consulting for new companies on a project by project basis. The capital for this consulting ($500,000 over five years) will be provided by Adena Ventures, a "New Markets Venture Capital Company", which has contracted with the MMEDC for technical support services to potential Adena portfolio companies. Projected outcomes include the involvement of 45 participants, the creation of 10 new businesses, and the creation of 45 new jobs. Additionally, the grantee will serve 40 businesses.
PROJECT: Oakland Downtown Business Development Initiative
GRANTEE: Oakland, Town of
Purpose: To support entrepreneurial activity in downtown Oakland.
Funding:
| ARC: |
$15,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$25,588 |
| Total: |
$40,588 |
Description: The grantee provides professional management for the Town of Oakland for the implementation of a comprehensive downtown revitalization program. The goal of the project was the development of an artisans center for a group of artisans known as the Mountain Arts Cooperative and the development of a business incubation center. The grantee has purchased the building that houses the two centers and the Garrett County Community Action Committee (GCCAC) is now in the process of designing the final look and utilization of the structure. Supporting these artisans by providing display space and a work area, as well as technical assistance for financing and marketing, is an important part of the Town's revitalization efforts. Completed outcomes to date include the creation of 25 new businesses and 94 new jobs.
PROJECT: Oakland Downtown Business Development Initiative, Phase II
GRANTEE: Oakland, Town of
Purpose: To continue to provide professional management for the Town of Oakland for the implementation of a comprehensive downtown revitalization program.
Funding:
| ARC: |
$15,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$23,620 |
| Total: |
$38,620 |
Description: The goal of the project was the development of an artisans center for a group of artisans known as the Mountain Arts Cooperative and the development of a business incubation center. The grantee has purchased the building that houses the two centers and the GCCAC is now in the process of designing the final look and utilization of the structure. Fostering these artisans by providing display space and a work area, as well as technical assistance for financing and marketing, is an important part of the Town's revitalization efforts. Completed outcomes to date include the creation of 25 new businesses and 94 new part-time jobs.
PROJECT: Revolving Micro-Loan Fund
GRANTEE: Western Region Small Business Development Center
Purpose: To develop a micro loan program and provide associated technical assistance and after care support.
Funding:
| ARC: |
$107,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$26,790 |
| Total: |
$133,790 |
Description: This project has a microenterprise revolving loan fund that provides technical assistance and follow up support for emerging or expanding small businesses. Loans to individual businesses do not exceed $10,000. The revolving micro-loan fund provides financing not otherwise available to small enterprises located in the region. Completed outcomes of the project for the grant period include providing eight loans that have resulted in the creation or retention of 23 jobs in the region.
PROJECT: Revolving Micro-Loan Fund, Phase II
GRANTEE: Western Region Small Business Development Center (SBDC)
Purpose: To support the continuation activities of the micro-loan fund by increasing its capitalization.
Funding:
| ARC: |
$115,000 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$28,750 |
| Total: |
$143,750 |
Description: The project will support the continuation activities of the grantee's existing revolving micro-loan fund by increasing its capitalization. The Rural Entrepreneurial Assistance Program began in 1999. The first year of the REAP Micro-Loan Fund resulted in the creation of a revolving micro-loan fund that provided financing for small businesses unable to secure financing through more conventional sources and for loan amounts less than $10,000 per application. A second round of funding was secured in 2000 and used to build capital by $100,000 in loanable funds. All of these funds have been loaned to date. Outcomes include 13 businesses receiving loans, including 6 startup businesses, and the creation of 16 jobs and the retention of 21 jobs.
PROJECT: Revolving Micro-Loan Fund, Phase III
GRANTEE: Small Business Development Center-Western Region, Inc
Purpose: To will support the continuation activities of the micro-loan fund by increasing its capitalization.
Funding:
| ARC: |
$78,164 |
| Other Federal: |
$0 |
| State: |
$0 |
| Local: |
$19,541 |
| Total: |
$97,705 |
Description: The project will support the continuation activities of the micro-loan fund by increasing its capitalization to a total of $258,500 and focus its resources on Allegany County. The grantee is working in collaboration with Hagerstown Community College and is receiving business referrals from the Women's Business Institute. Projected outcomes include loans to 10 businesses and the creation of 6 new businesses and 10 new jobs.
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