SF4008

Purpose

• Provide funding to help launch a new facility called The Ruckus, aimed at supporting second-stage, growth-oriented entrepreneurs as they move from startup to substantial revenue growth.

What the bill would do

• Approve a one-time appropriation of 1,200,000 in fiscal year 2027 from the general fund.
• Direct the money to the commissioner of employment and economic development to grant to Neighborhood Development Center (NDC).
• Fund the development, equipment, and launch of The Ruckus and its programming.

How the funds would be used

• Design and implement core programs for The Ruckus.
• Build entrepreneur cohorts.
• Establish industry retail and capital partnerships.
• Purchase equipment and tools needed for programming.
• Ensure the facility is fully operational when it opens.

Program components

• Technology and business accelerator for founders ready to scale and with validated ideas.
• Beauty and wellness production and market access program to support compliant product development and launch.
• Retail readiness initiative to help consumer brands enter and expand in retail markets.

Timeline and availability

• This is a one-time appropriation.
• Funds are available until June 30, 2028.

Responsible entities

• Source: General fund.
• Recipient: Neighborhood Development Center via a grant from the commissioner of employment and economic development (DEED).

Significance and impact

• Aims to support growth-stage entrepreneurs and help them reach higher revenue levels.
• Creates structured programs and partnerships to accelerate business development and retail market access.

Signficant changes to existing law

• Establishes a new one-time funding line for NDC to create The Ruckus facility and related programming; does not specify other statutory changes beyond the appropriation.

Relevant Terms - appropriation - general fund - commissioner of employment and economic development (DEED) - Neighborhood Development Center - grant - The Ruckus - small business and entrepreneurship facility - second stage entrepreneurs - startup - substantial revenue growth - core programs - entrepreneur cohorts - industry retail partnerships - capital partnerships - equipment and tools - technology and business accelerator - scale - validated ideas - beauty and wellness production - market access program - compliant product development and launch - retail readiness - enter and expand in retail markets - one-time appropriation - available until June 30, 2028