As part of City Hall in Your Borough, Mayor de Blasio announced the launch of a new storefront improvement program that will provide $20,000 grants to dozens of businesses in Jamaica to upgrade signs and window displays, part of the ongoing $153 million Jamaica NOW Action Plan of 26 strategic action items.
The de Blasio administration announced that the Strategic Steps for Growth program has helped more than 100 Minority and Women-owned Business Enterprises (M/WBEs) win $93.5 million in City contracts, including a record high $28.6 million in City contracts over the last year alone. Participants have also reported adding nearly 800 new jobs after completing the program.
The Fund supports M/WBEs and small businesses facing obstacles accessing surety bonds, bonds that offer collateral to ensure businesses can successfully perform on City construction contracts. The program allows eligible businesses to apply for surety bonds of up to $500,000 or 50 percent of the Contract amount, whichever is lesser, in order to meet cash collateral bond requirements.
The five winning community-based organizations will each receive awards of $100,000 from SBS’ Neighborhood Challenge program. Awardees will use funding to implement tailored, data-driven solutions that build the capacity of CBOs to address the challenges faced in their commercial districts.