City Council gives economic incentive money to Elk Grove business'

Elk Grove city councilmember Steve Detrick praising the city' economic development director, Darrell Doan. | 

At their Wednesday, July 27 regular meeting, the Elk Grove City Council gave $122,500 to two Elk Grove-based businesses. The giveaway is part of Elk Grove's Startup Elk Grove Incentive Program approved last August and developed by Elk Grove economic development director Darrell Doan. 

The two businesses receiving the funds are Innogrove, which was awarded $47,500 and SensorTransport, which received $75,000. Innogrove provides small business workspaces, and SensorTransport develops logistics management apps.

According to the staff report presented to the city council, the money given to Innogrove is the second funding of taxpayers money they received. In 2016 the city gave Innogrove $27,500.

SensorTransport is in the process of raising $1 million from a variety of investors. As part of accepting the cash, SensorTransport promised to several contingencies including maintaining its headquarters in Elk Grove and including an Elk Grove designated official in all investor meetings.

SensorTransport will get its money in two payments of $25,000 then an additional $50,000 after they raise $300,000 in additional outside investor money. The staff report says, "SensorTransport’s business plan calls for it to reach 200 employees and 35,000 square feet of office space in 2024."

"I applaud what you guys are doing," Councilmember Steve Detrick said to Doan during council deliberations. "It's not [an] easy task its not only competitive across the Sacramento region but across the United States for what you guys have to compete against."   

Copyright by Elk Grove News © 2019. All right reserved.

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