Events

  • 03/09/16
    Start-up Scale-up Business Plan Competition Info Session
  • 03/12/16
    Start-up Scale-up Business Plan Competition Info Session

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WI - Milwaukee, General Mitchell International Airport

Broken clouds
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Reported on:
Fri, 2016-08-19 03:52

Frequently Asked Questions

What is a BID (Business Improvement District)?

A BID is a defined area within certain boundaries in which businesses and commercial property owners pay an additional special assessment tax or fee in order to fund improvements within the district’s boundaries. BID’s often provide assistance to new and existing businesses through special programs and educational or technical assistance opportunities.

Who does the Marketplace BID 32 help? Can anyone get help from the Marketplace BID 32?

BID 32 offers assistance to any business located within our service area and to businesses looking to open a business within our district.  Most BIDs only assist businesses within their defined boundaries.

What is a CDC (Community Development Corporation)? Are they the same as a BID?

A CDC or Community Development Corporation is a general term referring to a not for profit organization incorporated to provide programs or services and to engage in other activities that promote and support community development.  CDC’s usually support a specific geographic location such as a neighborhood or town and often focus their efforts on serving underserved lower income areas and neighborhoods. BIDs are NOT CDCs.  BIDs are formed by business associations and focus solely on business support and development.  BIDs are also specifically funded and financially supported by tax dollars paid in by commercial property owners in their district.  CDCs are funded through many different sources.  Oftentimes BIDs and CDCs in the same area partner on business development activities.

Does the BID provide any loans or grants for businesses?

The Marketplace BID 32 has a Safety and Security and other Incentive Grants to existing businesses in the Bid 32 service area.  These programs support upgrades that can improve the safety, security esthetics and sustainability for the business. Grants can support items such as lighting, camera monitoring and installations and other Technical assistance support, as well as façade and window improvement.  There are specific requirements regarding qualifying for assistance grants. Please contact the BID regarding the application process.  Currently BID 32 does not offer business loans of any kind.