Economic Development Grants for Nonprofits

Economic development grants help nonprofits make an oversized impact in local communities. The purpose of these grants is to help spur local business growth, promote jobs, and enhance the infrastructure and livability of those communities. Economic development grants can be an invaluable shot in the arm for communities that are struggling during economic downturns.

The money from these grants can be used by nonprofits for a wide range of possible projects. These could include paying for job training, support payments to small businesses, investment in local infrastructure, or repair and preservation of local cultural buildings and community areas.

These grants come from a wide range of possible sources. These include federal agencies such as the U.S. Economic Development Administration, or state-level economic development offices. There are also many private foundations operational in this space, such as the Kresge Foundation. Often, financial institutions or other corporations local to the community may provide targeted support.

When drafting an economic development grant proposal, it’s important to make sure that you have a wealth of both local and federal data. You need to demonstrate that there is a significant gap in services in your local community, compared to federal standards. You’ll want to rely on data from local economic development reports, regional labor market analysis, and local and federal census information. You need to meld this data with your own clear plans for how you can address the gaps in service within the community, ideally relying on examples of work from your own nonprofit.

If you need more tips on how to write award-winning grant proposals, make sure to browse all of our educational content on the topic. You can also view a comprehensive list of economic development grants above, all ready for applications.