- Community & Economic Development
- B.O.O.S.T Moline
While the crisis mode of the COVID-19 pandemic has thankfully ended, the economic fallout is still a challenge for Moline and the local economy as a whole. City leaders are launching a new program, funded with $1.1 million in federal American Rescue Plan Act (ARPA) dollars with the goal of supporting long-term, sustainable business growth in every corner of Moline. Aimed precisely at small business owners and potential entrepreneurs, the program is called B.O.O.S.T, which stands for Business Owner Occupied Stabilization Transformation Program. It will be spearheaded by the city’s Community and Economic Development Department, with assistance from an outside business consultant. Through ARPA funding, the City of Moline is dedicating more than $1 million dollars to spur economic growth, strengthen the Moline community, and support Moline businesses.
The main goals of B.O.O.S.T are:
- Business acceleration
- Repurpose and fill vacant store fronts
- Revitalize underdeveloped commercial corridors
- Maintain and create employment opportunities
- Provide opportunities for entrepreneurs
- Support a vibrant community that is a unique travel destination
Program applicants who locate their business in a vacant building along one of the identified commercial corridors will receive an additional monetary incentive of $10,000 to support their project.
The program will provide direct funding in the form of forgivable loans to both brick and mortar, home-based and mobile businesses and will require applicants to attend business-building workshops, work with program mentors and create a business plan as part of the program application process.
The purpose of this program is to provide financial assistance, business education and financial literacy to eligible City of Moline based businesses to start-up and/or accelerate existing small businesses.