Mayor Michael Nutter announced $2M in small business development funding for the city of Philadelphia this week.
The funding was awarded through three programs-- the Targeted
Corridor Management Program, the Business Technical Assistance Program
and the ReStore Retail Incentive Grant Program--and is part of $72 million being invested by the city aimed at spurring
economic development.
The Restore Retail Incentive Grant program, launched last year, committed
$925,000 to 23 new or expanding businesses in 2009 that leveraged $4.1
million of private investment and created an estimated 56 construction
jobs and an estimated 237 new retail jobs.
Original Source: Philadelphia Business Journal
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