More than 35 Seabrook businesses have received funding from the city’s economic development corporation, with $66,000 still available for additional applicants, according to a city news release.
The city first announced the creation of the Emergency Business Retention Fund on April 20 and gave applicants until April 29 to submit materials. Businesses that qualified received $3,500-$9,000 depending on business type, current operating status, size of staff and whether the business is a franchise, per the release.
A Seabrook Economic Development Corp. subcommittee reviewed all applications and made recommendations to the SEDC for approval. City Council reviewed all agreements and gave final approval May 8 during a special meeting. A total of $184,000 was awarded of the $250,000 in the fund, with the money going to hotels, restaurants, salons, gyms, retail stores, and professional and industrial services.
The program reopened May 11 to allow additional businesses to apply, with completed applications being considered until the fund is depleted, per the release. Funding criteria are the same as the first round. Businesses that have already been awarded an incentive will not be eligible to reapply.
Eligible businesses must be located within a Seabrook Empowerment Zone, and the business must have been active on or before Jan. 1, per the release.