DETROIT, November 20, 2018 – The Detroit Economic Growth Corporation’s (DEGC) Motor City Re-Store (MCR-S) program continues to enhance Detroit’s commercial corridors by providing essential resources to business owners including, construction and design assistance, education workshops, and cash grant awards to local entrepreneurs. In the program’s fifth round, Motor City Re-Store announced 28 business have been awarded a total of $355,000 to assist with exterior improvements to their business and design assistance.
“Now in our fifth round, the team is thrilled about the impact we have made one year into the program,” said Pierre Batton, Senior Small Business Development Manager. “Each round of awards allows us to improve more of Detroit’s commercial corridors and to continue to strengthen the surrounding neighborhoods.”
In 2017 the Motor City Re-Store program was created to help existing businesses become more competitive and remain a vital part of Detroit’s growing small-business ecosystem. Over the course of five rounds, Motor City Re-Store has awarded 166 businesses nearly $2 million in construction and design assistance to help entrepreneurs remain competitive Detroit’s growing small business community.
The Motor City Re-Store winners span across 19 different Detroit neighborhoods and include a variety of services including a dental clinic, clothing stores, a childcare center, a commercial print shop and several restaurants.
“Motor City Re-Store is about rewarding the businesses that are dedicated to serving their neighborhoods and residents,” said Mike Rafferty DEGC, vice president of Small Business Services. “Through our network of resources, we’re able to provide these businesses the assistance they need to continue providing their goods and services to the community. Our Small Business Team is working collaboratively to improve the city’s commercial corridors and create density for the thriving small business community.”
How Motor City Re-Store Works
Motor City Re-Store will provide approximately $2 million annually in matching grants to existing business owners and their landlords for façade and other exterior improvements.
Winners are named in two tracks:
Grant winners in the Construction Track are awarded matching funds of up to $25,000. The seven construction grants awarded in Round 5 total $145,000. Design Track winners are eligible for grants of up to $10,000. The 21 design grants awarded totaled $210,000. Grant amounts are estimates and may vary as each project proceeds.
About Motor City Re-Store
Motor City Re-Store is managed by the Small Business Team at the DEGC and is available to entrepreneurs that have been open for at least one year and operate a commercial storefront in the city of Detroit, including their landlords. The program is supported by a combination of Community Development Block Grant dollars and other funders. The Economic Development Corporation of the City of Detroit (EDC) has stewardship of the public funds and has approved funding to develop the program.
Motor City Re-Store is accepting applications for Round 7 from November 30 through January 4, 2019. Business owners and landlords must apply jointly for 50 percent matching grants up to $25,000. Multiple businesses applying as a group are eligible for 75 percent matching grants. Applications can be submitted at www.motorcity-restore.com and paper applications are available upon request.
Seven businesses were awarded a total of $145,113 in construction grants in Round 5:
21 businesses were awarded a total of $210,000 in design grants in Round 5: