It’s no secret that many attribute a healthy community to its thriving small businesses. There’s a reason that KB Jewelers had a sign posted outside their front door that read, “Small businesses keep small towns afloat!” Local small town businesses provide a reason to always buy goods locally.
One organization that works behind the scenes to promote the economy in Adams County is the Adams County Development Corporation, otherwise known as ACDC. ACDC is a nonprofit economic development organization that serves all of Adams County. Simply put, the Adams County Development Corporation’s main goal is to support new and existing businesses.
Adams County Development Corporation Director Jasmin Fosheim explained, “Our primary goal is just to see the expansion of business in Adams County. We want to see more jobs created. We want our current businesses to succeed and grow, and we want to recruit new businesses and support them.”
According to Fosheim, ACDC stimulates economic development through job and workforce development, tourism promotion, and providing financial and other support for new and existing businesses.
Fosheim stated, “We have a whole arsenal of resources that we can share with our businesses.”
ACDC meets these goals a variety of ways. However, financial incentive programs are one of ACDC’s major tools for stimulating the Adams County economy. Any business in the county is able to apply for these financial incentive programs.
“Our microgrant programs support both new and existing businesses,” said Fosheim.
Right now, ACDC offers four different microgrant programs. These microgrant programs offer assistance to businesses in the community that want to start up, improve, or expand.
The first program that ACDC offers is the Rent Subsidy Microgrant. This program helps business owners pay for rent.
ACDC also offers businesses the chance to apply for the Loan Collateral Microgrant program. The money from this grant helps offer banks collateral on loans so businesses can more accessibly borrow money to start or improve their businesses.
“Anyone who is taking out a loan for anything related to their business, whether that be building, renovating, or purchasing can access support through this grant,” she said.
The organization also offers a One-Time Building Improvement Microgrant that provides new and existing businesses funds to improve their business. This grant is most often used for signage, but can ultimately be used for any project that will improve the business.
Fosheim said, “This program has been used in the community for everything from increasing energy efficiency and building on additions, to purchasing new equipment.”
The final ACDC Microgrant program is the Interest Subsidy program. This program is to be used by business owners to assist with paying down interest on loans which are being used to benefit the business.
The maximum amount available per business for each of these grants is $3,000, but businesses can apply for as many of the grants as they are eligible. Fosheim encourages any and all businesses to apply for these programs.
“The ACDC board would much prefer to see this money put to use in our businesses than see it sit in out bank account,” said Fosheim, “and as long as funds are available for these programs, the board hopes to put as much of this money to good use as possible.”