The Town of Gorham announced the launch of a new matching grant program aimed at providing a boost to help local businesses and farms grow and expand into new areas of operation with a one-time purchase of a capital item or service. The Capital Expenditure Matching Grant Program provides 50% reimbursement of a capital item, service or site expansion project, up to a maximum award of $15,000.
The program will award grants to businesses in three distinct sectors using a competitive grant application process. At least one grant will be awarded to a business or farm in each of the following three target sectors: agriculture, manufacturing, and skilled trades, retail and food services. A total of $45,000 in funding was allocated by the Gorham Town Council for the creation of the new grant program.
The program is made available to businesses and farms currently operating in Gorham on commercial and agricultural property located in the Town of Gorham. Gorham Savings Bank will provide $10,000 in additional funding as a “Hometown Match” that will go towards meeting the match requirement for one or more grant recipients.
“Gorham Savings Bank is truly pleased to provide this Hometown Match to our community—one in which we’ve been rooted for more than 150 years,” said Becky Winslow, SVP, director of Community Relations at Gorham Savings Bank. “We are dedicated to being a force for good and work hard to help local businesses thrive, from supporting startups through our LaunchPad small business competition, to contributing to impactful initiatives like this one.”
“This is the type of grant program our business community has been asking for,” said Gorham Town Council Chairperson Lee Pratt. “The goal is to provide the type of funding they need to make their own decisions on what’s best for growing and expanding their business in Gorham.”
Designed for a wide range of applicants, eligible uses for grant funding under the program include a single, non-recurring procurement in excess of $10,000 for durable goods, IT needs or related services, and may include upgrades to building or property that directly benefits business operations. There is no minimum grant amount, however, the primary objective of the program is to support transformative growth in business operations through capital expenditures.
Details about the grant program and how to apply are available on the Town’s website or by contacting the Department of Community Development. The deadline for submitting an application is Friday, Nov. 17, 2023.
CONTACT: Kevin Jensen, Economic Development Director, (207) 222-1628, kjensen@gorham.me.us.