Mayor Mike Duggan and the Detroit Economic Growth Corporation (DEGC) have granted over $1.5 million to support 38 Detroit businesses, both new and established, selected for Motor City Match’s Round 22 awards. The funding will aid in the launch of new brick-and-mortar businesses and the essential physical upgrades of existing neighborhood businesses. The diverse group of awardees includes a dog park brewery, a Spanish language educational facility, a neighborhood home and garden center, as well as various restaurants, cafes, and community spaces. These 18 new businesses will appear in 16 Detroit neighborhoods, including Core City, Mexicantown, Chalfonte, Brightmoor, and Eastern Market.
Motor City Match is an exceptional collaboration among the City of Detroit, the Detroit Economic Growth Corporation (DEGC), the Economic Development Corporation of the City of Detroit (EDC), and the U.S. Department of Housing and Urban Development (HUD). A diverse partnership of Southeast Michigan’s community development financial institutions and corporations, including Bank of America, Fifth Third Bank, Ford Foundation, Hudson Webber Foundation, JPMorgan Chase & Co., Knight Foundation, The Kresge Foundation, New Economy Initiative, and the W.K. Kellogg Foundation, supports competitive financial assistance. Motor City Match applications are accessible on a quarterly basis. Additional details are accessible on the MotorCityMatch.com website.
Duggan said “We have opened nearly 150 new businesses with 20 more expected this year. There is no shortage of entrepreneurial talent in Detroit and today’s winners are a great example of that. These 18 new businesses will bring new energy and vibrancy to 15 neighborhoods across the city.”
In its latest funding cycle, Motor City Match has distributed an impressive $1,020,000 in cash grants to 18 promising new businesses. These grants will allow these businesses to establish a physical presence in the city, contributing to local economic growth. Moreover, thanks to funding from the American Rescue Plan Act, $467,300 in grants has been awarded to 20 established businesses to support necessary renovations to their existing spaces.
The program has also confirmed awards to 48 additional entrepreneurs across its Business Plan, Develop, and Design tracks, in addition to the grants. For Detroit businesses that are still working on their projects, these grants offer technical assistance, including business services, training, and one-on-one advising.
Motor City Match’s 22nd round has provided support to a total of 86 Detroit businesses, representing all seven council districts.
Since its inception in 2015, Motor City Match has awarded more than 1,700 businesses, leading to the establishment of 148 new brick-and-mortar businesses across the city. Starting from Round 20, the program has incorporated federal funding from the city’s ARPA allocation to increase the number of grants and range of services available. The quarterly grant pool has been raised to $1 million for new businesses, while existing businesses operating in the city for at least one year can receive up to $500,000 in grants.
By integrating ARPA funding into the initiative, the city is continuing its efforts to support businesses in countering the adverse economic effects of the pandemic. Between March 2020 and March 2021, DEGC provided over $15 million in Covid relief grants and launched the Detroit Means Business platform to offer comprehensive services for Detroit businesses. ARPA funding, authorized last year by the Detroit City Council, has allowed Motor City Match and DEGC to continue these efforts and focus on supporting underserved entrepreneurs in Detroit.
In combination with its other small business initiatives, DEGC is establishing a self-sustaining small business ecosystem that fosters fresh concepts and ideas. Motor City Match offers entrepreneurs comprehensive support in five key areas – Plan, Develop, Design, Cash, and Restore. The program helps Detroit business owners to plan, formalize, and launch their ventures by providing them with classes on business planning, assistance in selecting a site, financial planning guidance, legal aid, design services, and gap funding.