Nashua Awarded Grant To Advance Economic Mobility; Will Launch Local Business Accelerator Program

Press release from the City of Nashua:

Nashua Awarded Grant to Advance Economic Mobility; Will Launch Local Business Accelerator Program

On Aug. 8, Mayor Jim Donchess announced that Nashua is one of eight municipalities across the country selected National League of Cities’ Advancing Economic Mobility Rapid Grant program.

“As our community continues to grow, we see economic mobility as an area for growth at all levels,” said Mayor Jim Donchess. “This grant is an exciting opportunity to help address that issue and provide a pathway for community members to build their dream businesses.”

Using this funding, Nashua’s Office of Economic Development will be partnering with CO.STARTERS to launch a local business accelerator program. Aimed towards assisting traditionally underserved entrepreneurs, participants will have priority access to training, tools, and resources to help them move their business from an idea to funding and growth. These businesses can then apply for up to $50,000 from the Greater Nashua Revolving Loan Fund.

“Traditional economic development tends to leave out local small business owners. This grant will help us focus on supporting Nashua’s homegrown businesses and building wealth locally,” stated Director of Economic Development for the city, Liz Hannum.

NLC selected Nashua for the program because of its demonstrated commitment to expand and test innovative solutions that advance residents’ economic mobility. In the months ahead, the City will be releasing information about how to participate. If you would like to learn more or be notified when registration opens, please contact Liz Hannum at hannuml@nashuanh.gov.

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On Tuesday, August 8, 2023, Mayor Jim Donchess announced that Nashua is one of eight municipalities across the country selected National League of Cities’ Advancing Economic Mobility Rapid Grant program.

“As our community continues to grow, we see economic mobility as an area for growth at all levels,” said Mayor Jim Donchess. “This grant is an exciting opportunity to help address that issue and provide a pathway for community members to build their dream businesses.”

Using this funding, Nashua’s Office of Economic Development will be partnering with CO.STARTERS to launch a local business accelerator program. Aimed towards assisting traditionally underserved entrepreneurs, participants will have priority access to training, tools, and resources to help them move their business from an idea to funding and growth. These businesses can then apply for up to $50,000 from the Greater Nashua Revolving Loan Fund.

“Traditional economic development tends to leave out local small business owners. This grant will help us focus on supporting Nashua’s homegrown businesses and building wealth locally,” stated Director of Economic Development for the city, Liz Hannum.

NLC selected Nashua for the program because of its demonstrated commitment to expand and test innovative solutions that advance residents’ economic mobility. In the months ahead, the City will be releasing information about how to participate. If you would like to learn more or be notified when registration opens, please contact Liz Hannum at hannuml@nashuanh.gov.

This press release was produced by the City of Nashua. The views expressed here are the author’s own.