boynton aerial view

Financial Resources

 

    The Boynton Beach Entrepreneurship and Business Incubation Grant Program provides funding to new and existing business incubators and working groups on entrepreneurship to undertake startup growth activities and studies. 

    Through a comprehensive approach to economic development that focuses on local/regional planning, targeted business development support, and community engagement, the Department of Economic Development and Strategy leverages partnerships to create local wealth and prosperity for the community. 

    Business incubation is a tool for the creation of a competitive small business sector. Business incubators provide fledgling businesses with shared access to infrastructure, data and information, communication technologies, and access to business services, finance, and mentoring and coaching during their critical start-up period.  They have enabled job and small enterprise creation, as well as the commercialization of innovation with immense social value. 
     
    The Department is seeking to support new and existing business incubators located within the City. The City will also support working groups on entrepreneurship that focus on the empowerment of women and youth, technology enterprise development, and intra-regional knowledge sharing and partnership opportunities.  

    There are a total of six (6) grant opportunities available that are divided into 2 categories. 

     

    Grant Type

    Category

    Funding Amount (Max)

    Existing Business Incubator

    1(a)

    $20,000

    Establishment of New Business Incubator

    1(b)

    $20,000

    Working Groups on Entrepreneurship for Women

    2

    $2,500

    Working Groups on Entrepreneurship for and Youth

    2

    $2,500

    Working Groups on Entrepreneurship for Technology

    2

    $2,500

    Working Groups on Regional Networks for Entrepreneurship

    2

    $2,500

     

    Grant Timeline 

    • Grant Period: April 3, 2019 – September 30, 2019. 
    • Grant Opening: April 3, 2019 – May 3, 2019
    • Application Deadline: May 3, 2019
    • Grant Recipients Announced: May 17, 2019

    View the guidelines and application process for the City of Boynton Beach Entrepreneurship and Business Incubation Grants Program.

    Please submit your grant applications to durganj@bbfl.us. If you have additional questions about the grants program, contact the Economic Development and Strategy Department at (561) 742-6014. 
     

    The Commercial Interior Build-Out Assistance Program is designed to help facilitate the establishment of new businesses and aide in the expansion of existing businesses within the City who are not located in the Community Redevelopment Area. The program is designed to provide financial assistance to new and existing businesses in the form of a subsidy intended to reduce a business’s initial costs associated with the construction and interior finishing of a new or expanding location. Improvements must be permanent and stay with the building.

    Applicants may be eligible for up to $15,000 in grant funding to assist with the cost of commercial interior construction or renovations. The amount of grant funding is determined by the number of jobs created by the applicant. Each full-time equivalent (FTE) job created is worth $5,000.00 in funding assistance from the City with a maximum grant award of $15,000.  Items eligible for funding under the program are limited to:

    • Interior walls
    • Interior plumbing
    • Interior electrical system including lighting
    • HVAC system
    • Flooring
    • Fire and/or Burglar Alarm systems
    • Fire suppression systems

    The Commercial Rent Reimbursement Program offers financial assistance to commercial and industrial businesses in the form of rent payment reimbursement for up to half of the business’s monthly rent, or $1,000.00 per month, whichever is less. The time period of eligibility for assistance is up to twelve months within the first eighteen months of a multi-year lease. The maximum total reimbursement per business is $12,000.