$145 Million for Small Business Grants Transferred to Pennsylvania Counties
Treasurer Stacy Garrity: Funding is vital to help small businesses that were hurt in the pandemic
Harrisburg, PA - Treasurer Stacy Garrity today announced that the Pennsylvania Treasury has made available $145 million to help small businesses in the hospitality industry as they struggle to recover from the effects of the pandemic. The funding, authorized by Act 1 of 2021, has been sent to all 67 Pennsylvania counties as block grants.
“Small businesses across Pennsylvania have been devastated by the pandemic and by the arbitrary and inconsistent shutdowns ordered by Governor Tom Wolf and his Department of Health. This funding is vital to give small businesses in the hospitality industry – including restaurants, bars and hotels – the help they need in these challenging times.”
Pennsylvania State Treasurer, Stacy Garrity
Grants from the COVID-19 Hospitality Industry Recovery Program will range from $5,000 to $50,000. To be eligible, a business must have fewer than 300 employees. The program will be administered at the county level, and priority will be given to businesses that were subject to closure by the Governor’s disaster declaration. More information about the program, including additional qualification standards, is available from the Department of Community and Economic Development here and here.
Act 1 of 2021 was enacted on Feb. 5, 2021. Less than a week later, Treasury completed the transfer of $145 million from the Workers’ Compensation Security Fund to the General Fund. County-level disbursement requests were received from the Governor’s office Feb. 12 through Feb. 22.
“I congratulate the General Assembly for its unanimous decision to make this funding available. Small businesses are vital to our economy, and we must continue to look for ways to help ensure their recovery from the effects of the pandemic.”
Pennsylvania State Treasurer, Stacy Garrity
Under Act 1, the transfer from the Workers’ Compensation Security Fund will be repaid if the Commonwealth receives a payment of at least $145 million from the federal government for the mitigation of general revenue losses incurred as a result of the pandemic.
Act 1 also exempted income received from the federal Paycheck Protection Program and stimulus checks from taxation under the state’s personal income tax and allocated federal funding to rental and utility assistance programs ($569.8 million) and education programs ($197 million). More details are available here.
