Legislation supporting jobs, employers and economic recovery by investing $60 million to expand the Hoosier Hospitality Small Business Restart Grant Program could soon be law, according to State Rep. Chuck Goodrich (R-Noblesville).
Goodrich
“Many Hoosier small businesses had to close or operate on a smaller scale to slow the spread of COVID-19 this past year,” Goodrich said. “As the economy recovers, this grant program would provide some much-needed assistance to help employers stay open and continue pushing forward.”
Goodrich said many businesses across the state have been negatively impacted by the pandemic, especially those in the tourism and hospitality industry, with the National Restaurant Association reporting Indiana restaurant sales dropping 37 percent from August 2019 to 2020. Goodrich said this legislation would provide eligible small businesses a grant to cover a portion of business and payroll-related expenses.
If signed into law, eligible recipients would include those whose revenue is $10 million a year or less, fewer than 100 employees as of Dec. 1, 2019, and they must show average monthly gross revenue loss of at least 30 percent. Grants couldn’t be more than $50,000 to any individual business.
Goodrich said this grant program would be an extension of the already existing Small Business Restart Program and would continue to be administered by the Indiana Economic Development Corporation. Originally, the program was started with federal COVID-19 relief dollars.
If necessary, this legislation would allow the IEDC to submit adjusted criteria businesses must meet to qualify for a grant, which the State Budget Committee must approve. For more information about the grant program, visit the IEDC’s website at iedc.in.gov and click on the orange “COVID-19 Updates & Resources” banner at the top of the web page.
House Enrolled Act 1004 heads to the governor for consideration as a new law. For more information, visit iga.in.gov.