cost share incentive

EBE Program

The EBE Program of Phillips County has been a strong stimulus to the local economy This program helps financially support new and existing businesses with items needed in the area of (building structure, equipment and marketing). Over the course of 13 months, this program has given support toward 8 businesses in the amount of around $210,000. As this program offers cost-sharing (a grant) , it allows for entrepreneurial businesses, to have a better chance to expand and grow, but also enabling needed businesses to improve their services and maintain employees. These 8 businesses that PCED has assisted through this program, has preserved 7 jobs and added 25.5 jobs to the area. Calculating the economic benefit from these jobs over a course of one year attribute around $800,000 dollars in salaries to the area. Also, the cost share (investment) match required by the businesses in their projects added another 1.1 million to the local economy. By dividing salaries as a base for comparison against the PCED EBE program funds given toward the business, you can get a simple cost benefit ratio. Having a 2 to 1 ratio for the short term is a great usage of funds. The simple cost benefit ratio for this program, using only salary for created and retained jobs produces a 4 to 1 ratio.

We have had many positive comments on this program from those businesses that have used it, but in many respects, this program is not well known or used. I encourage you to turn to the local incentives page for more information on the EBE program. If you have any questions, please contact the PCED staff at 785-543-5809.