Grants & Out-of-the-Box Funding Solutions
1 May 2023
Currently, there are a large number of grants available at the federal, state, and local level that economic developers can use to grow and enhance their communities. But, grants are not a fit for everything. And in some cases, grants require matching funds. This can create a need to raise money in order to secure the grant funding that’s available.
There are organizations that will help economic developers raise money for capital campaigns, multi-year strategic initiatives, gap financing, or matching funds. The below companies specialize in multi-year fundraising campaigns. Golden Shovel Agency and our clients have successfully worked with both.
Convergent Nonprofit Solutions
Convergent Nonprofit Solutions has over 100 years of fundraising experience with for-profit and nonprofit businesses, helping economic development organizations reach their goals and fostering a healthy economy in rural and urban areas. Maximizing charitable investment and securing new revenue streams is what Convergent is most well-known for. Their approach has helped organizations like the Greater Springfield Partnership, bringing over $4 million into the community.
National Community Development Services
National Community Development Services (NCDS) has generated over $1.8 billion to help economic developers and chamber leaders complete quality of life projects, develop infrastructure, and tackle strategic initiatives designed to expand businesses, attract skilled workforce members, promote entrepreneurs, and fix infrastructure through multi-year strategic initiatives. In Jonesboro, Arkansas, for example, NCDS completed a feasibility study and helped the organization to raise $3.5 million for a variety of initiatives linked to job creation and investment goals.
Agriculture Innovation Center Program
The USDA’s Rural Development agency created this program so that Agriculture Innovation Centers can further help agricultural producers gain a foothold in larger markets by maximizing their net worth. In addition to grant funding of $5,000-$50,000, there are many ways that AICs can aid agricultural producers, including:
- Feasibility studies and business plans
- Marketing plans, branding, and customer identification
- Preparing financial statements and analyzing financial options
- Engineering services, systems development, and scale production analytics
- Organizational assistance, legal, and technical advisory services
- Supply chain coordination and training
- Product development, product testing, and consumer analytics
Now is the Time to Secure Grant Funding for Your Community
Grant funding is available to help communities achieve their goals and make true headway on projects that have been percolating for some time. The challenge for many economic developers will be finding the time to apply for these grants and making the most of the money that’s available.
Want to learn more? Download the Economic Developers Guide to Grants That Can Fund Key Initiatives whitepaper today!
For more information and assistance in applying for grants, contact Golden Shovel to learn more about how these initiatives can help you.