San Mateo boosts business growth 

Businesses in San Mateo received a huge boost Monday when the City Council committed $75,000, plus a conditional $50,000, in program funding for the recently established economic-growth initiative.

The Economic Development Growth Enterprise, formed by the San Mateo Area Chamber of Commerce in March, seeks to stimulate growth of existing businesses and accelerate the formation of new ones.

“The energy behind the Edge continues to grow, and securing our initial funding adds significant momentum,” chamber Chairwoman Alicia Petrakis said in a statement. “This is a unique public-private initiative, and we’re committed to our vision of becoming a major engine of economic growth and job creation for years to come.”

The need for the Edge sprang from the Chamber of Commerce’s realization that existing economic development funds were on the verge of exhaustion, while other valuable regional business resources were being underemployed.

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