Motor City Match, Detroit's initiative to invigorate its small business sector, struck gold in its 25th round by awarding more than $1.1 million to 23 small businesses, as reported by FOX 2. The program, known for fostering entrepreneurs at critical stages, from conception to opening doors, bolsters Detroit's economic landscape with a diversity of new ventures like childcare centers, multimedia studios, and a variety of food establishments.
Mayor Mike Duggan stressed the program's role in democratizing opportunities for aspiring entrepreneurs who lack familial financial support in a statement obtained by FOX 2, asserting Motor City Match aims to level the playing field and this sentiment is echoed by the Detroit Economic Growth Corporation's (DEGC) efforts. Annette Anderson, owner of First Step Healthcare Training and recipient of a $20,000 grant, expresses her gratitude to Motor City Match for facilitating a chance to change lives through her school, as she told FOX 2.
Thanks to funding from the American Rescue Plan Act (ARPA), Motor City Match has seen a surge, doubling quarterly grant awards and catapulting local business prospects. Confirming the scale of this financial impetus, DEGC reports more than $15.7 million in cash grants dispensed to new and existing businesses, fostering a particularly diverse cohort of business owners with 81% minority-owned and 71% women-owned businesses.
Since its 2015 inception, the program has been a boon to the local economy, serving over 1,900 businesses and contributing to the opening of 165 storefronts across Detroit, according to stats from the Detroit Evening Report. The Detroit Economic Growth Corporation emphasizes that the strength of Motor City Match lies in its continuity, providing resources throughout their entire journey from idea to open, ensuring businesses don't just launch but thrive and continue to be essential, the corporation’s president, Kevin Johnson, outlined in a 2022 statement cited by the Detroit Evening Report.
