Data Analytics and Statistics Hub

Strong and Prosperous Businesses

Increase infusion of growth capital to Howard County companies by 10% by 2025

$5,376,300 

FY19 Actual


FY18 Actual
$23,422,800

Objective Description

The Howard County Economic Development Authority (HCEDA) seeks to continue to increase the utilization of growth capital in the county. Growth capital supports company expansion or restructuring efforts, workforce development initiatives, and overall investment into the county. Additionally, it helps fill the gaps in existing funding mechanisms for growing companies, ultimately making the region more attractive to growing businesses. Growth capital provided through HCEDA programs can be used to leverage even further investment from other sources. County growth capital sources includes Catalyst Fund activity, Agriculture Innovation, Education and Tech grants, and Workforce Training grants.

Trend Analysis

Total capital infusion saw an upward trend since FY 2016, as FY 2018 was a high watermark due to a particular large leveraged capital deal. While demand continues to increase for the Catalyst Fund, the Catalyst Fund is projected to slow as its lending fund reaches full utilization. In order to balance the applicant pipeline, the HCEDA has redirected the strategy of its outreach to applicants to target the highest value opportunities. The baseline year for target completion is FY 2019.

Strategies

  • Continue to integrate education on growth capital opportunities into all business support activity.
  • Increase promotion of Catalyst Fund and Agriculture Grant success stories through marketing channels to expand awareness.
  • Provide finance support to small businesses that could otherwise not access capital.

Source: Howard County Economic Development Authority

Target = 6,000,000

Detailed Analysis


Copyright 2018 by Howard County, Maryland | Privacy Statement | Terms Of Use | ADA Notice