Peabody Launches 2 New Grant Funded Programs

PEABODY, MA – MassDevelopment has granted two grants to the City of Peabody through the TDI Small Business Accelerator Grant Program. The grants, which total $45,000, will form two pilot programs designed to support small businesses and attract creative professionals to downtown Peabody.

The first program is funded by a $15,000 Local Lift Grant, and a $15,000 city match, and is designed to enhance the existing storefront improvement program. The program will hire a design expert to help businesses with design standards and related permitting processes.

The second program, Project Refresh, is funded by a $30,000 Lease It Local Grant, and a $7,500 city match. Project Refresh will activate unused commercial spaces in the TDI District by connecting business owners and entrepreneurs with landlords of buildings with inactive first-floor spaces. Successful applicants will receive financial support to activate spaces, and will be connected with the Small Business Development Center at Salem State University for technical support.

"I am very excited to introduce these two new programs to the downtown," said Peabody Mayor Ted Bettencourt in a press release. "The City of Peabody is committed to our downtown business owners, residents and entrepreneurs and these two programs will only help further the strides we have made in the revitalization of our downtown."

Applications are being accepted on a rolling basis. To learn more about the two programs, email Deanne Healey, President and CEO of the Peabody Area Chamber of Commerce, at execdir@peabodychamber.com, or Peabody Senior Planner Pedro Soto at pedro.soto@peabody-ma.gov.

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