The Economic Development Organization Recovery Grant helps Colorado organizations that support economic development maintain operations and economic recovery efforts. Grants of up to $25,000 and $50,000 are available, depending on the size of the population your organization serves.
If your organization serves a population under 25,000, you can apply for up to $25,000. If your organization serves a population over 25,000, you can apply for up to $50,000. Exact funding amounts depend on the quantity and quality of applications we receive. Funding is expected to be distributed to awardees in November 2021.
We are partnering with the Economic Development Council of Colorado to administer this grant. We are responsible for managing the program while the Economic Development Council of Colorado is responsible for distributing grant funding.
For: Organizations that support economic development
Amount: Up to $25,000 or up to $50,000 per application
Application period: August 19 to October 1, 2021
OEDIT division: Business Funding and Incentives
You will need to be a part of any organization whose primary activities and functions are focused on economic development. Your organization does not need to be a part of the Economic Development Council of Colorado to be eligible. Examples of organizations include:
- accelerator or incubators
- county economic development organizations
- municipal economic development organizations
- regional economic development organizations
- public/private economic development organizations
- chambers of commerce
- council of governments with economic development staff
Your organization needs to:
- demonstrate negative operational impact caused by the pandemic
- have been in operation with a physical presence in Colorado by January 1, 2020 with plans to continue operations
- agree to provide a short close-out report to OEDIT of economic impact generated by funds one year after receiving funding
- have dedicated economic development staff
- have an operating budget greater than grant award amount
- be in good standing with the Colorado Secretary of State
Priority will be given to organizations that:
- experienced significant impact of COVID on total revenue in 2020 from 2019
- experienced loss of staff due to the pandemic
- are the only applying organization in their defined geographic area
Ineligible organizations include:
- for-profit organizations
- small business development centers
- religious organizations
- organizations with greater than 15% of budget spent on political advocacy and/or lobbying
Grants are intended to support operational and programmatic expenses to maintain critical operations and economic recovery efforts. Eligible costs are typical economic development activities and functions that include, but are not limited to:
- business attraction, retention, and expansion
- workforce development
- commercial/industrial revitalization and rehabilitation
- community development
- business entrepreneurship and startup support (such as incubators and accelerators)
- business financing and technical assistance
- international trade development
- infrastructure development (such as broadband projects)
Ineligible costs include:
- any expense not considered an eligible expense by IRS rules
- wages to any member of the organization's principal officers, board or family who is not a bona fide employee
- charitable or pass-through contributions
- political contributions
- lobbying activities
- draw or salary to employees that exceeded the amount they were paid on a weekly or monthly basis for the same period last year
- pay down or pay off debt by more than required in underlying debt instrument
- expenses that were previously paid
- food (except for official functions)
- gifts or donations
- employee bonuses
- airfare upgrades
- late fees
- expenses that are unrelated to your scope of work
Applications are open and close on October 1, 2021 at 5 pm.
Apply online through the OEDIT application portal. Log in or create a new account. New users are manually added to the portal for security reasons, so it may take several days to activate your account.
You will need to submit these documents with your application:
- certification of health, safety, and working conditions for employees
- certificate of good standing with the Colorado Secretary of State
- profit/loss statements for calendar or fiscal years 2019 and 2020
Narrative questions include:
- Has your organization been threatened with permanent closure or merger due to the pandemic? Please explain.
- Has your organization had to reduce or change your economic development activities/services/mission due to the pandemic?
- Please describe any other impacts to your organization due to the pandemic.
- Was your organization eligible for funding from the Paycheck Protection Program (PPP)? If so, did your organization apply? Why or why not?
- Please describe any other pandemic relief funding your organization/office/department has received since March of 2020 or expects to receive in the future (e.g., American Rescue Plan Act funding).
- How will this funding support your organization and its mission?
The selection committee will include at least one representative from:
- Colorado Office of Economic Development and International Trade
- Economic Development Council of Colorado
- Economic Development Commission
All applications will be evaluated and ranked based on the responses to application questions and the availability of funds. The Economic Development Council of Colorado will distribute the funds to the approved organizations in November 2021.
The name and the grant amount awarded to each recipient will be made publicly available and reported to the Economic Development Commission.
If the funding request is granted and not used for the purpose in the proposal, funds must be returned to the Economic Development Council of Colorado for redistribution.
Organizations that were awarded funding will need to provide a short close-out report to OEDIT of the economic impact generated by the grant one year after your organization has received the funds.