Over $100 million in recovery grants awarded, still more available for Vermont businesses

Vermont Business Magazine, 8/19/2020 – The Agency of Commerce and the Department of Taxes reported Monday that more than $103 million in Vermont Economic Recovery Grants have been awarded to more than 3,500 businesses in 22 different sectors and in all 14 counties in Vermont. There are still funds available. The total amount per business also has been expanded for both new and those who have already received a grant to a maximum of $150,000 each. The Scott Administration will also ask the Legislature to expand eligibility.

The Department of Taxes launched the Emergency Grant Program for businesses who remitted sales and use, and rooms and meals tax on July 6. The same day, the Agency of Commerce and Community Development launched an Emergency Grant Program for all other eligible businesses pursuant to Act 115 and Act 137.

The data contained in their report breaks down the distribution of grant awards by county, firm size, sector and by the Agency’s statutorily defined funding sources.

These grants provide financial assistance and a temporary lifeline to Vermont businesses who have suffered loss because of the public health and safety measures put in place to slow the spread of COVID-19.

For the full article please click here.