EDB receives $1.8M Small Business Innovation Fund grant
The Economic Development Board for Tacoma-Pierce County has been awarded a $1.8 million Small Business Innovation Fund (SBIF) grant. The EDB is one of 22 organizations/projects to receive funding from the Washington State Department of Commerce.
A total of $32.5 million of the state’s COVID-19 fiscal recovery fund was earmarked for the grants, which support community-based programs and services that meet the needs of BIPOC entrepreneurs, women-owned small businesses and businesses located in underserved, low-income and rural parts of the state.
The EDB will act as administrator for the grant and will passthrough funds to support the work being done by its partners to bolster BIPOC businesses across Pierce County. Those partners include The Black Collective, Hughes Group LLC,Tacoma Arts Live, TractionSpace, Startup253 and Maritime Blue Innovation Incubator.
“Capital is one of the top concerns for BIPOC, women and veteran business owners,” said Tamsin Bell, EDB Vice President of Business Development. “The SBIF grant will mitigate financial barriers through access to programs and services that will help them grow and thrive.”
You can learn more about the SBIF and find a full list of grant recipients on the DOC website.