Winners of new competition launched to spur small business growth and investment in the region will receive a combined $50,000 in start-up capital.

The top three winners of the new “Choose Tamaqua Business Plan Competition” will also receive an estimated $10,000 in free or reduced goods.

Applications are being accepted for the competition from entrepreneurs hoping to start a new business within the Tamaqua Area School District, according to organizers.

The Tamaqua Area Community Partnership, in partnership with the Tamaqua City Revitalization and Improvement Zone Authority and the Tamaqua Financial Opportunity Center, announced the “Choose Tamaqua” contest this week.

Any new, for-profit small business proposed within the Tamaqua school district, which includes the borough of Tamaqua, and townships of Rush, Schuylkill, Walker and West Penn, is eligible to enter. However, priority consideration will be given to business plans proposing a location in downtown Tamaqua and/or the designated Tamaqua CRIZ.

“We can’t wait to see what plans entrepreneurs have for Tamaqua and how the community can help,” Micah Gursky, the partnership’s executive director, said.

“The Tamaqua CRIZ Authority is excited to partner with the Tamaqua Area Community Partnership to host the first Tamaqua Choose Happiness Business Plan Competition,” Dave Mace, Tamaqua CRIZ Authority chairman, added. “These competitions have a track record of identifying entrepreneurs with viable business plans that start successful businesses that stand the test of time. Tamaqua CRIZ believes that their efforts, combined with the assistance we can provide in terms of returned tax increment, will provide the Tamaqua area with more goods and services close to home and continue to fill our downtown business district.”

The competition unfolds in three phases. The first phase, now through Nov. 27, is open for entrepreneurs to submit a formal application, along with an executive summary and a video pitch.

The second phase, Business Plan Development and Mentorship, runs from December to March, with participants attending business plan development classes. They will be paired with an individual business mentor and begin drafting their financial forecasts.

The third phase, Final Deliverables, culminates in April 2027, with finalists submitting a comprehensive business plan, 3-year financial forecast, projected total start-up costs and personal finance statement. They will also complete a judges’ interview.

Finalists will present their business plans to a panel of judges at a final event in May, when winners will be announced.

There is a fee to enter the competition, which is due by the second week of classes.

Applications are due by Nov. 27. Applications and complete competition rules and eligibility criteria are available at www.tacp.info. More information about the Tamaqua’s Choose Happiness Plan is available at www.choosehappiness.org.

The partnership is a nonprofit community and economic development organization founded in 1994 to revitalize Tamaqua and surrounding townships. It serves as the lead organization behind numerous local revitalization initiatives, including the Tamaqua Community Arts Center, Hope & Coffee, Spirit of Christmas Festival, Tamaqua Area Faith Fellowship Network, Tamaqua Hunger Campaign, Liberty Tree Park, Tamaqua Financial Opportunity Center, and the Temple Tamaqua Dental Clinic. More information is available at www.tacp.info.

Tamaqua’s CRIZ program allows the growth in state and local tax revenue generated by new development within the zone to be reinvested locally in acquisition, renovation and infrastructure projects. The Tamaqua CRIZ Authority administers the program locally, overseeing eligible parcels throughout the borough and directing CRIZ proceeds toward continued downtown and community revitalization.

The Tamaqua Financial Opportunity Center provides no cost personal financial and career coaching to help individuals and families achieve financial stability and long-term economic mobility. The center also serves as a twice-weekly outreach site for Schuylkill Community Action. For more information, contact financialopportunitycenter@tacp.info.