Stamford DSSD Offering $50K Grants

Although it seems like our local chambers of commerce are chummier than ever with each other — after all, they are increasingly holding joint and regional networking events, as they struggle with declining memberships — that doesn’t mean municipalities aren’t in a friendly competition to steal businesses from each other.

As such, Stamford's Downtown Special Services District is offering a special incentive to attract new and established businesses to town. According to a report in the Stamford Advocate, the DSSD's Retail Advancement Program is offering grants of up to $50,000 to qualified business owners looking to set up shop in Stamford.

The only catch is that commercial property owners have to share in the incentive. In order for an applicant to receive the grant, the owner of the property where the retailer would locate must also deliver a $50,000 contribution in the form of rent breaks or space improvements, according to the report.

Merchants who already have stores in the downtown retail district can also apply for the grant, providing they plan to open a new retail business that is different from the type they currently operate. The grant program is not open to restaurants, according to the report.

Applications for the grant program will be accepted through Dec. 31 and only three merchants will be selected. The applications are being reviewed by a special DSSD committee, which includes bankers, retailers and marketing professionals, the Stamford Advocate report states.

Any business owner interested in applying should contact Jacqueline Wetenhall at 203-348-5285, or visit www.stamford-downtown.com.