I love to see the Bucyrus Foundation grant funds continue to be leveraged in support of economic development. Those types of investments were a foundational piece of the agreement.
The latest example: A new business retention and expansion program, announced recently.
From the city press release …
The South Milwaukee Common Council is proud to announce the launch of a Business Retention and Expansion (BRE) program, an initiative aimed at fostering economic resilience and growth within the community.
South Milwaukee is committed to supporting our local businesses, driving job creation, and fortifying the economic foundations of the City. The program’s goal is to recognize the City’s businesses, connect them with resources, generate data to influence policy making, and work to ensure that South Milwaukee businesses stay and grow in South Milwaukee.
The S.M.ALL Business Program will officially kick-off in January 2024. The program includes celebrating milestone anniversaries for South Milwaukee businesses, the awarding of business retention grants, annual business awards, a monthly business newsletter, regular business surveys, and more.
More from the Business Journal and BizTimes.
From the Business Journal …
South Milwaukee’s ongoing partnership with the Bucyrus Foundation now includes a $5,000 pilot program to help existing businesses stick around and expand.
That is among five new grant programs for downtown-area businesses the city launched this year using funds committed by The Bucyrus Foundation. The foundation is led by Tim Sullivan, former CEO of Bucyrus-Erie/Bucyrus International, which had its headquarters in South Milwaukee. It committed $10 million over 10 years to education and economic development efforts in South Milwaukee.
That money is supporting new façade improvement, mural, business attraction and interior renovation grants. The latest addition is the $5,000 Business Retention and Expansion program that next year will award grants of $500 to three businesses along with other support, such as a consultation with DBHW Wealth Partners, which in 2021 completed a 12,000-square-foot expansion by renovating two South Milwaukee buildings.
“We’re looking at what we can do to retain (businesses) and what we can do to help them grow,” said Patrick Brever, city administrator and economic development director. “We’re trying to diversify efforts as much as we can, especially with these Bucyrus funds.”
The retention and expansion program could grow in the future after this first round of funding, Brever said. The city in the first quarter of 2024 will distribute a survey to local businesses, and those that respond will participate in a raffle to receive the grants or other support.
South Milwaukee Blog 