Durant offers boost to small business
DURANT, Okla. (KTEN) — The Durant City Council is celebrating small businesses this week by approving a plan to award $260,000 in grants.
"We've had a pretty high turnover rate," said Durant Industrial Authority executive director Lisa Taylor. "Vacancy rate in the downtown areas, especially. That was really at the forefront at the discussions and decisions in creating these small business grants."
Although they've been able to help businesses grow, this time it's a little different.
"Typically with the economic development sales tax, we have ... offered incentives in the way of forgivable loans," said Taylor. "Typically for industrial projects, we've used the money to purchase real estate so that we would have a place to recruit companies to. But to my knowledge, we have never had any type of a small business grant program."
A "boot camp" for small businesses will be established, and attendance will qualify participants for grant money.