Canton awards $100,000 to microenterprise program

December 6, 2018 by  

City officials recently announced that Canton has awarded a Community Development Block Grant in the amount of $100,000.

The recipient is the Economic and Community Development Institute (ECDI), which will use the money to start the Canton Microenterprise Program. The ECDI will distribute the funds during the course of a year, giving capital to six small businesses based in Canton. The funds will enable them to grow, and to create twelve jobs. New employees in situations like this can work with a business card printing company to create the cards they need.

Thomas Bernabei, mayor of Canton, said the city was excited to work with ECDI, which has proven to have a good track record of providing affordable loans, and services to small businesses, particularly with regard to helping low- and middle-income people, or others at a disadvantage. Loans from ECDI enable them to start a business, or expand one that’s already operating.

In addition to generally helping small businesses, the funding will also help boost the Innovation District, which is in the planning stages, and which has already received commitments from the Stark Community Foundation and the city. Also, JumpStart Inc. said in October that it will provide $151,000 to help get the district up and running. At least one start-up incubator is planned for the district, and JumpStart also says it plans to open a local office to help businesses.