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New Economy Initiative awards funds in small business contest

DETROIT (WKZO) -- The New Economy Initiative will take applications next month for a contest rewarding 32 existing small businesses with money for improvements. The philanthropic foundation is providing ten-thousand dollars each for 30 firms and 100-thousand dollars to two establishments for the best pitches on how the money would make that company better. Businesses open for at least three years in Detroit, Highland Park, and Hamtramck are eligible for the grants, with the applications limited to 200 words.