Fort Wayne expands its Emerging Business Enterprises program
IN News - Published Sep 27, 2019
The City of Fort Wayne is expanding its Emerging Business Enterprises (EBE) program. Where before the program applied to city projects, there is now a new recommendation that the program apply to the city's portion of privately-funded projects taking partial city funding.
Currently the EBE participation goal is set at 10 percent. This is the same percentage that would apply to the city portion of the aforementioned privately-funded projects. The move follows another expansion of the EBE program from 2018, which doubled the maximum revenue a business may annually earn while still being considered an EBE, from $5 million to $10 million, and, additionally, allowed for state-certified DBEs, MBEs, and WBEs to be considered EBEs for the purposes of the city program.
Businesses seeking EBE certification must meet the revenue requirement as mentioned above, been in business for fewer than 15 years, and be at least 51 percent owned, operated, and controlled by an economically disadvantaged owner-operator.
More on the requirements and specifics on the application process are available at https://www.cityoffortwayne.org/emerging-business-program.html.