Elk Grove business startup program wins international award. Here’s what it means for city
The city of Elk Grove was recently recognized by the International Economic Development Council for its startup program that assists businesses with grants.
Elk Grove’s Office of Economic Development received a 2023 “Excellence in Economic Development” Silver Award from the IEDC for efforts in providing more than $270,000 to six Elk Grove tech startups, resulting in more than 80 new jobs in Elk Grove and nearby areas.
Nathan Ohle, the president and CEO of the IEDC, acknowledged the city’s leadership and innovation in the field of economic development.
Ohle said it was an honor to present the silver award to Elk Grove.
“The City of Elk Grove has raised the bar for excellence in economic development with its Startup Incentive Program,” he said. “This award is a testament to the City of Elk Grove’s dedication to its residents and serves as a great example of how economic development can help transform a community for the better.”
The IEDC is a nonprofit, nonpartisan membership organization serving economic developers with more than 4,300 members, according to its website, and is the largest organization of its kind. The organization says it aims to recognize economic development organizations, government agencies, initiatives and programs that have exemplified consistency in economic sustainability and growth.
Every year, the IEDC identifies and recognizes economic development organizations, government entities, initiatives and programs that have demonstrated consistent, exemplary performance in the economic development profession.
Elk Grove offers specific financial incentives for companies, and sometimes for projects, making significant contributions to the city’s employment and tax bases. The majority of projects involve creating new high-quality jobs while generating tax revenue.
“This prestigious award celebrates the City’s outstanding achievements in contributing to local economic growth and developing the City’s community of tech entrepreneurs,” said Luis Aguilar, Elk Grove’s economic development program director. “This award is significant because it establishes the City of Elk Grove as a pioneering force in economic development and in developing a local innovation ecosystem. Few cities have implemented this strategy.”
Elk Grove startups awarded
The six startups that have received a combined total of more than $270,000 in city grants through the program are:
▪ EyeRate, a business technology startup that develops online reputation management software.
▪ Core Impact, a sports-specific wearables company.
▪ Tiami Networks, a 5G wireless technology startup.
▪ Vest Life, a “dashboard” application for parents of children with special needs.
▪ Clockwork Logistics Systems, a delivery logistics software platform.
▪ InnoGrove, a 5,700-square-foot coworking office space for residents and organizations, located on Elk Grove Boulevard.
