Jumpstart Grants More Popular Last Year

Over the last year more businesses and organizations received Jumpstart grants than during any other time in the program's eight year history. A total of 25 grants were awarded in fiscal year 2011, more than double the 12 issued in 2010. Previously, the record for the most Jumpstart grants issued in a single fiscal year was 13 in 2009. 

But despite the grant program's increased popularity, the average grant award per successful applicant has declined in value from a high of $16,884 in 2009 to $8,320 in 2011. 

However, the total dollar value of the grants awarded last year rose for the first time since 2009, when the EDA awarded $219,000 in grants to 13 businesses and organizations. That number had slumped more than $70,000 to $137,800 in 2010. 

In terms of popularity, then, the program has come a long way since it was first set up in 2003. During its inaugural year, only two organizations received a total of $6,500 in grant money. Fiscal year 2004 saw no Jumpstart grants awarded. Between 2005 and 2008, a grand total of 14 Jumpstart grants were awarded. 

The growing popularity of the grant program can also be seen in the current grant application cycle. Last month, nine organizations applied for more than $55,000 in EDA Jumpstart grants with the EDA's grant committee recommending $29,800 in approved grants. The EDA will discuss and vote on the grant awards during its regular meeting this morning at City Hall. 

The EDA divides the Jumpstart grants into four categories; non-profit grants, for-profit grants, event sponsorship, and art grants. Non profits can apply for up to $5,000 in grant money. Some for profit organizations can apply for 50 percent matching grants for facade improvements and other capital investments. 20 percent of the Jumpstart grant funds are also reserved for projects which support the arts. 

Jumpstart grants are available to businesses and organizations which are planning projects within one of 11 downtown corridors: Riverfront & Sophia Street from the train station to Fauquier Street, Lafayette Blvd. from Downtown (Prince Charles Street) to Lee Drive in the Fredericksburg National Battlefield Park, Princess Anne Street corridor between Jefferson Davis Highway (Route 1) and Fauquier Street, Riverfront from Jefferson Davis Highway to Canal Street, William Street from Route 3 to Charles Street, Downtown Commercial District from Frederick Street to Fauquier Street and Caroline Street to Prince Charles Street/Post Office Site, Jefferson Davis Highway from the Rappahannock River to Cowan Boulevard, Blue and Gray Parkway from Carl D. Silver Parkway to Rt. 2 (Dixon Street), Fall Hill Avenue from Carl D. Silver Parkway to Route 1, Cowan Blvd. from I-95 to Route 1, Dixon Street from Charles Street to Lansdowne Road.

According to the Jumpstart grant application "new or existing business changes, improvement projects and activities, including façade improvements, that stimulate economic growth are eligible" to apply for the grant program. 

Getting an EDA grant is not necessarily a path to quick money. On average, it can take 187 days for the full value of a grant to be paid out, however most grants take around 80 days to turn around (more specifically: a median wait time of 78 days). The longest a grant has taken to be completely paid out was 1,329 days, or about 3.6 years, for the installation of brick sidewalks around the Fredericksburg United Methodist Church at the intersection of Hanover and Princess Anne streets. Their $9,000 grant was approved on July 19, 2005 and wasn't paid in full until March 9, 2009.

The quickest turnaround on a Jumpstart grant goes to the Fredericksburg Regional Chamber of Commerce. Their $5,000 sponsorship grant for a leadership program was approved on April 29, 2009 and was paid out on the same day.