NORFOLK, VA – The Norfolk Department of Economic Development completed the second round of its Capital Access Program. As a Norfolk, Virginia, USA business, Netarus, LLC was one of the award recipients of the Reimbursable Grants, which are funded by CDBG.
The program provides five grants of various amounts which are aligned to business stages and funding partners. “We would like to congratulate the businesses receiving grant awards in our second round,” said Interim Director of the Development, Jared Chalk, “our office received more than twenty applications.” The total amount for grants awarded to 15 companies in the first two rounds of the Capital Access Program for 2019 is $295,000.
“We are excited about the opportunity provided by the City of Norfolk to enable us to continue our growth within the Norfolk region, ” said Christopher Machut, CEO of Netarus. “Netarus looks forward to applying this grant towards our growth in the community and developing technologies that make the material handling industry safer and more productive.”
More information about the Capital Access Program is available on the City of Norfolk’s website at https://norfolkdevelopment.com/resources/capital-access-program/.
About the City of Norfolk Economic Development Department
Our mission is to generate wealth for the City of Norfolk through business expansion, enhancement, and new business development complementary to our neighborhoods.
About the Norfolk Economic Development Authority
The mission of the Economic Development Authority (EDA) is to create jobs, maximize the utilization of Norfolk’s real estate, foster business capital investment, increase revenue by growing the tax base, focus on efforts to build on the strengths and the needs of neighborhoods, and support minority and small businesses.