Sharing Success Economic Development Grants

Every year, San Miguel Power Association Inc., in conjunction with its national cooperative partner, CoBank, seeks funding opportunities that stimulate and enhance our local economies.  In order to financially support projects, programs and organizations that are actively working to improve the financial stability of local businesses, expand entrepreneurial opportunities and bring revenue to our towns and counties, SMPA awards grants to selected applicants.

Member organizations and businesses may apply for up to $20,000 (rounded to the nearest $500) depending on the costs of their initiatives.  Initiatives may vary in size and scope but should aim to benefit the entire business community of a region, not just individual businesses.

The following definition of economic development will be used by SMPA Board of directors for evaluation of all proposals:

Economic development is the development of economic wealth of regions or communities for the well-being of their inhabitants.  From a policy perspective, economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and supporting or growing incomes and the tax base.

Qualifying projects should:

• Stimulate job creation in our area
• Promote economic growth
• Create/improve local commerce
• Maintain/strengthen existing businesses
• Enhance regional prosperity
• Offer sustainable progress; set the stage for economic development in the long run
• Build collaboration
• Show off our communities' attributes
• Demonstrate ability to leverage funds