Locate48 Small Business Grant
LOCATE48 SMALL BUSINESS GRANT
Locate48 is a resource to make your move as smooth as possible. In 2020, the Grand Canyon State ranked as the 7th (move.org) and 5th (uhaul.com) most popular state to move to, thanks to Arizona’s lower cost of living, weather, access to outdoor activities, economic climate, and retirement attractiveness.
In addition to the individuals moving to Arizona, there has been an influx of businesses relocating and expanding to Arizona. The state’s booming economy, budget surplus, talented workforce, low regulation, stellar quality of life, connectivity to major markets, and business-friendly tax environment are all contributors to the rising number of entrepreneurs and business leaders fleeing states with more burdensome and costly regulator environments.
Applicant Criteria & Requirement
- Business must be incorporated before January 2021
- Business must have relocated or expanded (created an additional location) in Arizona from outside of the state and must be registered in Arizona between March 2021 – March 2022
- Business must be leasing a physical location or working in a co-working space; may not be working from home or remotely as an independent contractor
- Business must be currently operating
- Business must have 3-100 employees each working a minimum of 20 hours per week
- Business must be in good standing with the Arizona Department of Revenue and Arizona Corporation Commission
- Businesses must be in good standing with their local community or jurisdiction if licensing is required in their community
- Must be structured as a C-Corporation, S-Corporation, Partnership, Limited Liability Company (LLC), or Tribal business
- Nonprofits, Sole proprietorships, self-employed individuals, and independent contractors will not be considered at this time
- Businesses must be able to show that their revenue has increased or stayed consistent in 2021
Use of Funds
Funds may be used for one or all of the following expenditure examples. Businesses who receive grant funding will be required to document how the funds are used and submit documentation to the Arizona Small Business Association (ASBA) as the funds are utilized, within six months from the date of the award. Expense reporting will be required at six months post-award. The funding should be used to support the growth of their Arizona-based entity and support local job seekers and businesses. Businesses that are selected to receive the Locate48 Grant funding may use the funds for program eligible expenses, including:
- Hire employees – Recruiting fees or job posting services
- Payroll expenses and/or contract labor including IT support, marketing agency, etc.
- Health care benefits
- Business insurance
- Lease or mortgage payments for property used for business purposes (Does not include a personal residence.)
- Furnish and/or enhance your business property – Office furniture, purchase of necessary operational equipment
- Purchase and/or update technology equipment & machinery
- Market your business – Website design and/or improvements, digital marketing, advertising, etc.
- Business software expenses
- Licensing and registration fees