FOR IMMEDIATE RELEASE
April 20, 2020
City of Seabrook | SEDC Announces Emergency Business Retention Incentive
The Seabrook Economic Development Corporation (SEDC) is now inviting Seabrook businesses who have been impacted by the COVID-19 pandemic to apply for the Seabrook Emergency Business Retention Incentive. To be eligible, businesses must be located with a Seabrook Empowerment Zone (see map below) and the business must have been active on or before January 1, 2020
Businesses who qualify may receive an incentive between $3,500 to $10,000 dependent upon the following the criteria:
- Current operating status of the business
- Size and number of employees within the business
- Business type (franchise or independent)
- Type of business; i.e. retail, restaurant, professional, service related, automotive, personal care (salons), sales, industrial, etc.
A total program budget of $250,000 has been allocated to help local businesses recover from the COVID-19 pandemic and economic disaster. Each incentivized business must use the funds for business lease/loan payments, utilities, payroll, etc. and are determined by the SEDC to promote new or expanded business development and/or for the creation/retention of primary jobs. The funds are not intended for business owner salaries.
Businesses who wish to apply must complete the application in its entirety and email it to the SEDC by Wednesday, April 29, 2020.
The SEDC is thankful for its local business owners and believes incentives like these are necessary to keep our local businesses viable during these uncertain times.
For more information about the incentive please email Seabrook Economic Development Director, Paul Chavez, at [email protected] or call (281) 291-5730.
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