"In one state another initiative that is gaining popularity is expanding techonology based businesses and biodiesel production. Last month, the state announced that one of their departments is providing $5 million to administer assistance programs. The funding comes from the department's budget.
The programs will help grow good, quality jobs in emerging industries. The state's program wants to do all they can to create a growth environment for high-tech start-up companies and producers and distributors of biodiesel. Providing these financial incentives will make the state more competitive and more attractive in the global marketplace.
The department has been accepting applications since December 2007 for this small business grant program, which will provide grants to eligible tech-based companies in incubator facilities.
Since entrepreneurship is the lifeblood of a state's economy, and technology is a growing sector that is becoming more important each day.
This program will lend financial support to entrepreneurs that are just starting up their operations.
A program initiative that supports both is a worthy investment for the state because there is a belief that fostering innovation will spur economic growth for the entire state.
The department will also offer grants to producers of biodiesel.
The grants will be:
- 30 cents per gallon for the first five million gallons produced
- 20 cents per gallon for the next five million gallons produced
- and 10 cents per gallon for the next five million gallons produced.
Capital grants also will be available on equipment, storage and distribution.
The state will also be seeking input from residents around the state with a series of regional forums, providing the public with an opportunity to share their views on the future course of the state's economy.