June 15, 2012

GOV. MALLOY ANNOUNCES NEW STATE PROGRAM TO PROMOTE BUSINESS GROWTH IN TOWN COMMERCIAL CENTERS

(HARTFORD, CT) - Governor Dannel P. Malloy today announced that the State of Connecticut has launched a new program that will help municipalities attract small businesses, promote commercial activity and increase local job numbers by providing grants for infrastructure renovations and improvements to town commercial centers.

Towns can use the funding for a variety of projects, such as building renovations, improved street lighting, sidewalk construction, signage, recreational space or other renovations deemed necessary to contribute to the economic success of the municipality.

"The Main Street Investment Fund will respond to the needs of small communities around the state by strengthening their commercial centers and creating lasting partnerships with the local merchants," Governor Malloy said. "While our overall economy is improving, we still have much work to do. But with the right investments and the right partnerships, we can ensure that Main Street Connecticut will be the driving force behind our economic revival."

Created during last fall's Jobs Special Session, the Main Street Investment Fund will provide grants of up to $500,000 to towns with less than 30,000 residents or those eligible for Connecticut's Small Town Economic Assistance Program (STEAP). Earlier this month, the State Bond Commission, which is chaired by Governor Malloy, approved $5 million for the fund.

The program also provides financial incentives to the owners of commercial private properties for eligible expenditures that directly support and enhance a qualified project.

Governor Malloy said that municipalities can begin submitting applications for the grants to the Office of Policy & Management (OPM) by the application deadline of September 28, 2012.

An application form and fact sheet can be downloaded online at http://www.ct.gov/opm/mainstreet . Those who have further questions about the program can contact Dimple Desai, Community Development Director for OPM, at 860-418-6412 or Dimple.Desai@ct.gov .

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For Immediate Release: June 15, 2012

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