Government Grants Provide Great Source for Capital Improvements, Expansion Funding

If you are looking for a good source of funding for capital improvement and expansion projects, consider state, county or federal grants. Many companies in the industry have found small business or regional economic development organizations as valuable allies in expansion. For example, Botkin Lumber Co., Farmington, Mo., received a grant from the Missouri Department of Economic Development in 2003 to facilitate expansion at its Farmington location. The Community Development Block Grant helped pay for expanding and equipping the plant, road improvements and training personnel.

            “It’s a matching grant,” explained Jennifer Blum, sales and personal director for Botkin Lumber. “It’s been really helpful” in developing and sustaining a strong workforce. Leadership training and vendor training were part of the scope. The Missouri Department of Workforce Development and the Department of Elementary and Secondary Education consulted with Botkin Lumber on workforce training and development.

            “We grew so fast,” said Jennifer. “We were losing the feeling of being a small, family-owned business.” The grant allowed Botkin Lumber to do some strategic planning and worker training, all within the context of “taking care of customers” and “taking care of quality” as the key components of its mission, she explained.