Local businesses now can apply to participate in the City of Sacramento’s “Economic Gardening 2.0” program, which offers companies up to $50,000 in matching funds for future growth. The program is in its third year and 16 local companies have participated.
In addition to the funding, the program pairs local companies with business experts who assist in analyzing data and creating strategies to achieve desired outcomes. To be selected, companies must already be established in the city of Sacramento and have five to 99 employees and $1 million to $50 million in revenues.
“The Economic Gardening program has helped local businesses increase revenue, create more jobs and expand their operations right here in Sacramento,” said City of Sacramento Project Manager Lorrie Clark. “The matching grant opportunity and high-level business technical assistance fosters innovation, growth and workforce development.”
The City’s Office of Innovation and Economic Development, which oversees the Economic Gardening program, has retained the local consulting firm, Berkeley Strategy Advisors, to administer the program and provide direction for project implementation and execution.
The City has also partnered with California State University, Sacramento’s (CSUS) Career Center to enhance opportunities for local businesses. As part of the program, companies will have the ability to work with the CSUS Career Center on talent development, with the potential hiring of a student fellow.
The City will provide selected businesses with up to $50,000 that the business must match in equivalent funds to implement the recommendations they received during their consulting.
Ten local companies were chosen to participate the Economic Gardening 2.0. this past year. After the businesses received their 36 hours of market research and business analysis, they all are now moving on to the next phase to receive up to $50,000 that the business will match with their own funds.
“The Sacramento Economic Gardening Program has really enlightened us on the tremendous business opportunities that we have overlooked,” said Kenneth Johnston, CEO of video production company KJ2, which was selected to participate in year two of the program. “The research has yielded invaluable data that should assist us in growing our business.”
“I received more invaluable insight into my business’s growth opportunity from the Economic Gardening consultants than when I had spent thousands of dollars in the past with various coaches and consultants,” said Mark Adams, owner of AHI Construction, a local company selected to participate in year one of the program. “The partnership with Sac State allowed AHI to reach the next level of visibility after adding a graphic design intern to create our website. Everyone’s passion, knowledge, and concern for this project has shown throughout.”
Interested businesses can apply online by Oct. 4 on the City’s website at cityofsacarmento.org/econgardening
Funded by the City’s Innovation and Growth Fund, Economic Gardening 2.0 builds on the City’s adopted “ScaleUP” plan, an inclusive economic development action agenda. ScaleUP is intended to guide how the City utilizes its unique assets to generate sustained, quality economic growth and identifies promising initiatives to help build up local businesses and advance job opportunities.