STATEHOUSE (June 25, 2020) – As Indiana continues to get back on track, State Rep. Doug Gutwein (R-Francesville) said the state is dedicating nearly $44 million in federal funds to help small businesses and manufacturers impacted by COVID-19.
"Small businesses still need help getting back on their feet after the pandemic caused incredible hardship," Gutwein said. "Our local employers are vital in helping the state get back on track, and this funding is a great resource to help them stay open."
Through the federal CARES Act, $30 million has been dedicated to the Small Business Restart Fund. Hoosier small businesses with fewer than 50 employees and $5 million in annual revenue that experienced at least a 40% drop in revenue can apply for grants to cover expenses related to the public health crisis. Gutwein said these expenses may include rent or mortgage payments, lease payments for real or personal property, utilities and safety investments like personal protective equipment and infrastructure improvements to keep employees and customers safe. According to Gutwein, at least $5 million will be reserved for certified minority- and women-owned businesses. The deadline to apply for a grant is Sept. 30. For more information on this program, including additional eligibility requirements, visit backontrack.in.gov.
The Indiana Small Business Development Center will utilize nearly $3.7 million over the next 18 months to offer increased resources for Hoosier entrepreneurs and small businesses. Gutwein said this funding will help provide no-cost services like counseling and training for local businesses impacted by COVID-19. Visit isbdc.org/indianacovid19smallbusiness for more information.
"Small businesses are not only paying normal operational costs, but they also have additional expenses to help protect employees and customers during this time," Gutwein said. "Businesses have sacrificed a lot, and these resources are important to help them fully reopen, and boost the economy."
The Indiana Economic Development Corp. approved $10 million to launch the Economic Activity Stabilization and Enhancement program, which Gutwein said will support technology and operational advancements in the manufacturing industry. Through this program, local manufacturers will be able to apply for support through the Smart & Advanced Manufacturing Focus Fund to invest in new developments. Manufacturing Readiness Grants will be available in July to companies committed to modernizing their operations or those investing in health care manufacturing technology. Additionally, a Smart Manufacturing Studio is being developed to provide lab space and access to state-of-the-art equipment to businesses so they can train employees, validate technologies and conduct third-party pilot manufacturing. More information can be found by visiting iedc.in.gov and searching "Economic Activity Stabilization and Enhancement."
Gutwein said these resources are in addition to the Indiana Small Business PPE Marketplace, which currently provides masks, hand sanitizer and face shields to Hoosier small businesses at no cost. Visit backontrack.in.gov/ppemarketplace.htm for details.
State Rep. Douglas Gutwein (R-Francesville) represents House District 16, which
includes all of Pulaski County and portions of Fulton, Jasper, Newton and Starke counties.
Click here for a high-resolution photo of Gutwein.