NYSTAR Innovation Matching Grants

Purpose: CAEATFA supports California's mission to provide financial incentives to cutting-edge companies by offering a sales and use tax exclusion to manufacturers purchasing equipment to promote alternative energy, advanced transportation and recycling, as well as advanced manufacturing. These manufacturers create tens of thousands of high-paying, permanent jobs that bolster the state's economy. Description: The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) Sales and Use Tax Exclusion (STE) Program (the “Program”) excludes from sales and use taxes purchases of Qualified Property if its use is either to process Recycled feedstock or using Recycled feedstock in the production of another product or soil amendment; or that is used in an Advanced Manufacturing process; or that is used to manufacture Alternative Source products or Advanced Transportation Technologies. Eligible manufacturers planning to construct a new manufacturing facility or expand or upgrade a currently existing manufacturing facility may apply to CAEATFA for an STE award, and if approved, the purchases of Qualified Property for the project are not subject to state and local sales and use tax.

Applications for all three programs are reviewed on a quarterly cycle, with City staff reviewing submissions and recommending funding awards to the Covington Board of Commission for final approval. Award and approval processes typically take six to eight weeks. Applicants must be in compliance with Covington's Good Standing Ordinance (current on loans, fines, liens, and other obligations to the City) and meet all zoning, building, and health code requirements. The Rent Subsidy Incentive provides reimbursement of up to half of a business's monthly rent (or $500 per month, whichever is less) for up to 12 months within the first 18 months of business, with a maximum total benefit of $6,000. The program is designed to help new businesses launch or existing businesses expand, and requires a minimum two-year lease, at least one full-time equivalent employee whose wages are reported to the City of Covington, and set operating hours of 30 hours per week or more. New businesses must have been open for less than 120 days at the time of the application deadline, while existing businesses can qualify as a "substantial expansion" by occupying more than 150 percent of their current space, incurring at least $5,000 in tenant improvements, and creating at least one additional full-time equivalent employee. Businesses renting in publicly owned buildings, check cashing businesses, vape shops, home-based businesses, businesses where ownership also owns the real estate, and accelerator, incubator, or coworking operators are not eligible. The Façade Improvement Forgivable Loan provides commercial property owners with a 50 percent matching forgivable loan of up to $10,000 to update their building's façade. Applicants can pursue one of two options: an Exterior Only option, which reimburses the owner's investment on a $1-to-$1 basis up to $20,000 in total project cost (with City funds spent only on the street-facing façade), or an Interior and Exterior option (available for vacant buildings being prepared for a tenant), which allows the private match to go toward interior "white box" renovations while City funds are still spent exclusively on exterior improvements. Eligible improvements include painting, storefront restoration, exterior lighting, windows, signage, awnings, tuck-pointing, and cornice repairs. Roofs are not eligible, and projects focused exclusively on signage or awnings do not qualify. A Certificate of Appropriateness from the City's Historic Preservation Specialist is required, even for non-historic buildings. Property owners must hold the property for at least three years following the improvement, with full repayment required if the property is sold within that period. The Historic Electric Sign Program provides commercial property owners (or businesses with the property owner as a co-applicant) with an 80 percent city / 20 percent owner matching forgivable loan of up to $10,000 to help restore existing projecting signs or install refurbished historic signs on their building's façade. The program is designed to enhance the aesthetic appeal of Covington's commercial districts, generate foot traffic, and improve businesses' curb appeal by bringing historic electric signage back into use. A Certificate of Appropriateness from the City's Historic Preservation Specialist is required, and face changes to existing signs are not eligible. Recipients must sign a covenant protecting the sign from removal, sale, or demolition for 25 years following reimbursement, with full repayment required if the sign is voluntarily removed or destroyed in violation of the covenant. Bonus consideration is given to signs that are documented to be at least 50 years old.

The Prosperity Investment Program (PIP) provides Portland businesses and commercial property owners with reimbursable matching grants of up to $75,000 to fund tenant improvements and small to large scale building improvements. Administered by Prosper Portland, the program covers up to 75 percent of approved project hard and soft costs, with the grantee responsible for the remaining 25 percent match. PIP is designed to support business competitiveness and property redevelopment in order to increase access to quality employment, foster wealth creation through business ownership, and build healthy, vibrant commercial corridors. Eligible hard costs include signage, lighting, storefront improvements, mechanical systems, tenant improvements, roofs, sidewalks, parking lots, landscaping, and other permanent fixtures. Eligible soft costs (capped at $25,000) include architectural, engineering, environmental, market, or financial analysis services associated with physical construction. To qualify, properties must be located within one of Portland's eligible Tax Increment Finance (TIF) Districts (Central Eastside, Gateway Regional Center, Interstate Corridor, Lents Town Center, Old Town, or North Macadam), be zoned for commercial, mixed use, employment, industrial, or multi-dwelling use, and have all property taxes and debt payments current. Each TIF district has its own action plan priorities that guide grant review, ranging from preserving industrial maker space and retail activation in Central Eastside to supporting historic preservation and retail vibrancy in Old Town. National franchises, locally owned franchises with more than three locations, nonprofits (except those located in Old Town), businesses that exclude minors during business hours, and any work completed before a grant agreement is executed are not eligible. A grant recipient or property may only receive one PIP grant every five years.

The Kansas Department of Commerce and Kansas Office of Registered Apprenticeship (KOA) has realized significant growth in high-wage and high-demand occupations, but there still remains a significant need to engage small businesses essential to the state economic success. This grant specifically targets small businesses with less than 10 full-time employees, and will provide $7,000 one-time grants to support the registration of New Apprentices in high-wage and high-demand occupations.

OCAST awards funding of up to $500,000 to companies leading innovation projects that have the potential to create economic impact in Oklahoma. Projects must have an end user application within the targeted industries identified in the 2021-2026 Science and Innovation Strategic Plan, which includes biotechnology; aerospace, autonomous systems and defense; and energy diversification.