The Gun Barrel City Renovation Grant: It’s all about making that stunning first impression for your business!
25 Jan 2023
One of the many parts that go into the running of a successful business is the first impression, “you never get a second chance to make a first impression” is one that you will hear frequently; if you want your business to prosper, it is essential that you take the time to get it right.
Businesses and store owners need access to investments that can help them enhance their store or business's curb appeal, thereby promoting the business and attracting customers.
Renovation grants are incentive-based plans that are specially created as a form of encouragement to businesses or property owners, to help improve the internal or external appearance of their storefronts or building premises. Utility upgrades, building and facade renovations, property beautification, pavement improvements, or having awnings put in are included as part of the grant. Even simple changes such as removing non-historic materials, repairs, or a new paint job that calls attention to the building’s original architectural details signal positive change and often stimulate similar improvements in neighboring buildings.
Economic benefits of renovation and beautification
Apart from rejuvenating locally owned businesses, renovation grants have seen other benefits:
- In the years after improvements were made, there was a visible increase in sales.
- Increased sales figures were sustained for several years
- The growth in sales figures exceeded the rise in local taxes
- New businesses and customers were attracted to the areas with improvements
- Beneficiaries were often motivated to make other improvements to their property or business - interior spaces, product displays, etc.
- Owners of businesses in surrounding areas have an easier time making extra improvements to their businesses.
One of the ways in which the Gun Barrel City Economic Development Corporation assists its local businesses is through a Grant Program for the refurbishment, beautification, and redevelopment of their buildings. These grants are available in two amounts:
GRANT A - A 50% matching grant of $15,000 to $25,000 for an investment by the owner/lessee of a building of at least $30,000.
GRANT B - A 50% matching grant of $3,000 to $5,000 for an investment of at least $6,000.
Grant B generally applies to signage or small facade renovations.
How the Grant works: some points to note
To be eligible for the grant, it must be used on property within the area generally defined as within the Central Business District.
The applicant must be a legal business entity, registered with the Texas Secretary of State's Office. If renting space, the business owner must have the property owner's authorization. Grant applications will not be accepted for work that has already been started or for work covered by insurance.
The grant program is a 50% match funded on a reimbursement basis for project costs. Funds are reimbursed once completed work has been verified and a Certificate of Occupancy has been issued, if required. Grant applications and awards can be made in any of the reimbursable activities, like lighting, door/window replacement or repair, signage, general building/property beautification including landscaping, etc., and may be combined for any single property or project.
Are you a business owner located in Gun Barrel City, Texas? GBC EDC has the ability to provide incentives in the form of loans, grants, and consulting to different types of businesses located in or expanding in Gun Barrel City. Would you like to make use of the Renovation Grant to promote your business and attract more customers?
Contact us here for more information.