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Jul 19, 2021 · Origin

AEDC board's FY2021-22 budget adds $600,000 to revive the EnterPrize Challenge

Presenting the FY2021-22 budget, President Carter said it included a $600,000 increase in the project support budget for "the revival of the EnterPrize Challenge": $500,000 for forgivable loans and $100,000 for the Enterprise Center to administer the program. Chairman Bentley asked for a formal presentation of the program by the Enterprise Center. The board approved the budget unanimously on the Budget Committee's recommendation.^[1]

Kevin Carter Brian Heinrich Laura Street Amarillo Economic Development Corporation (AEDC)

What the sources say

✓ Verified
The July 19, 2021 minutes say the proposed budget included 'an increase of $600,000 in the project support budget, which includes the revival of the EnterPrize Challenge: $500,000 for the forgivable loans and $100,000 for the Enterprise Center to administer the program.' The Budget Committee (Director Heinrich and Vice-Chairman Hall) recommended approval of the 2021-2022 budget, which also included a 4% increase in staff salaries; Director Street seconded and it was approved unanimously.^[1]
Increase
$600,000
Loans
$500,000
Administration
$100,000
✓ Verified
The program predates the 2021 revival: the AEDC's January 2025 project report lists a 'WTAMU Amarillo EnterPrize Challenge 2019' commitment of $405,000 with $386,658 paid in prior years, and KFDA described the 2023 round as the 26th Amarillo EnterPrize Challenge.^[2]^[3]
Cohort 2019
$405,000
Cohort 2019 paid
$386,658

Sources

1.Amarillo Economic Development Corporation Board of Directors minutes, July 19, 2021 — Amarillo Economic Development Corporation (via City of Amarillo CivicClerk), Aug 23, 2021 · retrieved Oct 22, 2026primarySubject-authoredScanned minutes (OCR); figures checked against the page images. 'published' is the date the board approved these minutes, as recorded in the minutes of that later meeting.
2.Amarillo Economic Development Corporation Managerial Report, for the four months ended January 31, 2025 — Amarillo Economic Development Corporation, Jan 31, 2025 · retrieved Oct 14, 2026primarySubject-authoredUnaudited; marked 'Restricted for management only, notes are not presented'. 'Cumulative Project Status Report' through January 31, 2025 on page 6. 'published' set to the report period end; the file was uploaded to the AEDC site in December 2025.
3.5 businesses awarded at the 26th Amarillo EnterPrize Challenge — KFDA NewsChannel 10, Mar 3, 2023 · retrieved Oct 22, 2026newsIndependentBy Vanessa Garcia. States the awards were made 'last night' (March 2, 2023).