City of Medicine Hat Business Innovation Grant approvals reach $1.26M for local businesses
Medicine Hat – As of October 6, 2020 the City of Medicine Hat Business Innovation Grant (MHBIG) has approved 140 applications at a total value of $1.26M for local businesses.
On May 4, City Council announced the COVID Hat Support Framework, which included a $2M grant to support businesses in coping with and recovering from the economic impacts of the pandemic. Coined the Medicine Hat Business Innovation Grant, Community Futures Entre-Corp facilitated the fund on behalf of the City.
“We recognize our businesses are hurting during these challenging times and are happy we could offer a significant financial package to support them,” says Mayor Ted Clugston. “Today, we are in the third $500,000 tranche of the grant and expect it will be fully subscribed within the coming weeks.”
Once the third tranche is complete, the City of Medicine Hat and City Council will conduct a thorough analysis of the impact of the grant thus far to determine any need for changes to the grant criteria. This will ensure the goals and needs of the business community are being met prior to releasing the final $500,000 tranche for applications.
“We are absolutely committed to the fourth tranche of the program. We have seen many exciting, new services as a result of the MHBIG that are benefitting the community and helping our businesses grow,” added Clugston. “We need to ensure that the remaining $500,000 is allocated where it is needed most.”
To stay up-to-date with the City of Medicine Hat Business Innovation Grant, please visit http://entre-corp.albertacf.com/mhbig.
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Director, Marketing and Communications
City of Medicine Hat