Brighton, CO– Brighton Economic Development Corporation (EDC) in partnership with the Brighton Urban Renewable Authority (BURA) and the Brighton Lodging Tax Committee is launching the Brighton Investment Program (BIP), a new business assistance program designed to help Brighton companies improve and enhance the work they do and the space they do it in. Beginning in January, applications will be available to Brighton businesses.
The City of Brighton imposes a 3 percent lodging tax on short-term lodging that provides revenue to be allocated for economic development, special events, cultural arts facilities, advertising and marketing, and promoting tourism, making the money for this program a true reinvestment back into the community.
The Brighton EDC has been allocated $100,000 to administer to business owners. The money has been ear marked for two different areas of the BIP – Business Reinvestment Program and the Workforce Training Assistance Program.
The Business Reinvestment Program is geared towards small businesses who need capital for building improvements. Funds can be used for interior improvements such as painting, carpeting and flooring, etc. as well as for exterior improvements such as facades, gutters, painting and masonry cleaning etc. The grants for this portion of the program will be a dollar-for-dollar match with $10,000 being the maximum amount awarded and will be administered by EDC and BURA staff. The money will be awarded on a first-come, first-serve basis, is available to all businesses with a valid business license and is limited to one per business per calendar year.
The Workforce Training Assistance Program is an occupation or industry-specific training assistance program for current, full time employees of an organization who need to increase skills in order to advance their career. After successful completion of training, the Brighton EDC will reimburse employers 50% of training costs.
“This program is a game-changer for our business community,” said Michael Martinez, Director of the Brighton EDC. “It is important that we giveback to the business community who make Brighton what it is today, especially small and medium sized businesses that work on razor-thin margins. By providing a program that will help with things like building improvements, equipment purchases and employee training needs, we will be making a significant impact with business retention and expansion here in Brighton and will continue to prove that Brighton is a great place for businesses of all sizes.”
Businesses interested in applying for the funds from the Brighton Investment Program can call the Brighton EDC (303) 655-2020 or come into the office at Historic City Hall (22 S. 4th Ave. Brighton, Colorado 80601).