Despite the recent launches of a handful of new retail businesses in downtown Zeeland, some storefronts remain vacant. A new nonprofit organization made up of Zeeland business leaders aims to change that by awarding cash grants to help future Zeeland retailers pay their rents or other startup expenses.
The group, Zeeland Investment Partners (ZIP), launched the idea a year ago to establish an incentive program that, in conjunction with the city of Zeeland's facade grant program and grand opening marketing grant program, would attract three to four new retailers a year. The goal is to establish an annual operating budget of some $25,000 to $30,000 and offer qualifying businesses monthly grants in the $500 to $1,000 range.
"It really needs to be the type of business that fits our current mix, perhaps a business looking to open a second or third location," says David Wilson, owner of Generational Wealth Management and a ZIP board member. "But if someone with a new business idea has a good business plan and financial backing, we'll take a look at them."
The group's first objective is to attract an upscale restaurant that would draw diners downtown in the evenings.
ZIP board members represent seven downtown businesses and the Zeeland Chamber of Commerce. Each business contributed seed money to the fund. Wilson did not know the fund's total to-date, but said ZIP looks to secure donations from other downtown businesses, building owners and interested residents.
On June 25, ZIP hosts a fundraiser Open House & Vision Walk to show potential investors several of the downtown buildings available for rent and to showcase some of the second-story downtown apartments. The event starts at At The Diner, 126 E. Main. For more information or to RSVP, contact David Wilson, (616)931-1270.
Source: David Wilson, Generational Wealth Management and Zeeland Investment Partners
Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].
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