Buckeye opens applications for its Catalyst Program in boost to local economy

Buckeye, Arizona: The City of Buckeye has opened applications for its Catalyst Program, a redevelopment initiative aimed at attracting private investment by rehabilitating existing buildings.

This program is designed to spur economic growth by providing property owners, businesses, and investors with substantial financial incentives. Eligible participants can qualify for up to $50,000 in reimbursable funding to support their development projects.

The primary goal of the Economic Development Catalyst Program is to revitalize Buckeye's commercial and industrial properties. To qualify for the Catalyst Program, projects must align with the economic development objectives outlined in the program guide, which draws from Ordinance No. 31-12. The program is open to all commercial and industrial properties within Buckeye's municipal boundaries, with the exclusion of residential properties.

Applications for the Catalyst Program are accepted twice a year, during August and February, for a period of 60 days. Each application undergoes a thorough screening process, and funding decisions are made by the Mayor and Council. The City Council funds the Catalyst Program annually through the city budgeting process, allocating $250,000 each year, although this amount may vary.