Speedy supports bill helping Indiana's small businesses, hospitality industry

Posted by: Samantha Holifield  | Friday, February 5, 2021 11:01 am

STATEHOUSE (Feb. 5, 2021) – The Indiana House of Representatives on Tuesday advanced legislation establishing the Hoosier Hospitality Small Business Restart Grant Program, which would support Indiana's jobs and economy, according to State Rep. Mike Speedy (R-Indianapolis).

According to the Indiana Office of Tourism Development, the tourism industry employs more than 150,000 individuals and contributes roughly $9.3 billion to Indiana's economy. A recent National Federation of Independent Business survey revealed small-business owners are worried about their business viability in 2021. Under legislation Speedy supported, struggling businesses experiencing significant losses due to the pandemic, like those in the tourism and hospitality industries, would be eligible to receive funding.

"Our small businesses make our community unique," Speedy said. "People often travel to cities and towns to get the local experience. Indy's restaurants and shops are often at the top of the list when visitors come to our city, and in order to bounce back from this pandemic, our small-business owners need support."

Speedy 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 Corp. Small businesses that qualify could receive a grant to put toward a portion of business and payroll expenses. In addition to state funding, the program could also receive contributions from federal grants, donations and other sources.

House Bill 1004 can now be considered by the Indiana Senate. For more information, visit iga.in.gov.

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State Rep. Mike Speedy (R-Indianapolis) represents House District 90,
which includes portions of Marion County.

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