Progress: Marshall Economic Development Corporation program works to make blighted buildings into bustling businesses

The Caddo Distillery company is a new micro-distillery planned for 305 and 307 North Washington Avenue in downtown Marshall — the old JC Penny Building.
Meredith Shamburger/Marshall News Messenger

The Marshall News Messenger
By Jessica Harker jharker@marshallnewsmessenger.com
Jessica Harker City Reporter
March 27, 2023

Just last year, the Marshall Economic Development Corporation decided to turn their attention to locally blighted commercial buildings and searched for a way the group could assist the city’s effort to reduce this issue in downtown Marshall.

MEDCO created its certificate of occupancy grant program as a way to counter this, issuing four such grant agreements since its creation.

The program itself, according to MEDCO Director Rush Harris, is created as a reimbursement grant for both new and expanding businesses in Marshall which could offer $100,000 or 10 percent of total project costs, if approved.

The idea behind the project came when Harris said that he was approached by a group of business owners interested in investing in the downtown area, though they found issue with the costs of resurrecting some of the old buildings.

Many of the structures needed expensive work done, and the businesses were hoping for more support for their businesses or projects if they were to take up such a large financial undertaking.

Harris said that MEDCO created the program with a set boundary within the city-designated downtown area to encourage investors and business owners to work in that area.

The program works as an incentive for interested parties to apply for the grant program, which would allow them to receive up to $100,000 or 10 percent of their project costs once they receive their certificate of occupancy from the City of Marshall.

“This is an incentive, and it works as enough funds to help offset the project’s total cost to investors,” Harris said.

The program also requires participants to complete business counseling with the Small Business Development Center in Marshall, as well as be transparent with their financial investment in the project.

“Once they complete that and receive their CO, we can issue them a check, which often happens right before the business officially opens,” Harris said, “Our goal was that this is a meaningful reward for undergoing that risky investment into Marshall.”

Throughout the first year of the program, four Marshall businesses have been approved by city council to participate. These businesses included the Caddo Distillery Company, Ruggenbach Brewing Company, Bick5 Investments and Avelar Ventures.

Bick5 Investments was the first and only thus far of the four participating businesses to go through the program and receive the reimbursement grant.

“We are so excited to see about a number of these projects coming to fruition, and being able to hand out more checks for the completed program,” Harris said.

He added that he is excited about the success and interest in the project so far, and that MEDCO may consider expanding the project in future years.

For 2023, MEDCO board members approved another $200,000 to fund that program for the new year at the same cost to the group as 2022.

However, Harris said that the group may consider expanding into other areas of the city in future years, including considering spaces surrounding both Wiley College and many of the key entrance corridors into Marshall.

“We want to address some of the older areas, as well as the areas where we can offer the most meaningful investment,” Harris said.

Business owners and investors who are interested in learning more about the program or potentially applying can contact Harris directly through MEDCO for more information.

“We want to do what we have always done, and that is invest in the people and businesses who want to invest in our city,” Harris said.