STATEHOUSE (May 7, 2021) – Legislation supporting jobs, employers and economic recovery by investing $60 million to expand the Hoosier Hospitality Small Business Restart Grant Program is now law, according to State Rep. Jim Pressel (R-Rolling Prairie).
"With an unemployment rate at 3.9%, which is the lowest in the Midwest, our economy is certainly showing signs of rebounding," Pressel said. "Small businesses are key to a strong economy and additional funding support for these key employers will continue moving our state in the right direction."
Pressel said many businesses across the state were negatively impacted by the pandemic, especially those in the tourism and hospitality industry, with the National Restaurant Association reporting Indiana restaurant sales dropping 37% from August 2019 to 2020. With this new law, eligible small businesses could receive grants to cover a portion of business and payroll-related expenses.
Eligible recipients include those whose revenue is $10 million a year or less, and with fewer than 100 employees as of Dec. 31, 2019. They must show an average monthly gross revenue loss of at least 30%. Grants will not be more than $50,000 to any individual business. Eligible small businesses may apply until Dec. 31, 2021, but are encouraged to apply and submit expenses for reimbursement as soon as possible, as grants will be issued in the order they are received until funding is exhausted.
Pressel said this grant program is an extension of the already existing Small Business Restart Program and continues to be administered by the Indiana Economic Development Corp. Originally the program was started with federal COVID-19 relief dollars.
House Enrolled Act 1004 is in effect. For more information about the grant program, visit backontrack.in.gov.
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State Rep. Jim Pressel (R-Rolling Prairie) represents House District 20,
which includes portions of LaPorte and Starke counties.
Click here to download a high-resolution photo.
