With the Restaurant Revitalization Fund leaving more than a quarter-million applicants unfilled, states are beginning to step up and help out the hospitality industry. Several states have created their own restaurant funds to help with things like lost revenue, equipment, and worker shortages.
On this episode of the Happy Mouth Podcast, chef Nyesha Arrington and restaurateur Philip Camino break down the various states that have created their own restaurant funds.
Listen to Philip and Nyesha discuss state-created restaurant funds:
- The SBA shut down the RRF on July 14
- 265,000 applicants didn’t receive money
- The National Restaurant Association asked governors, mayors, and other state officials to launch state-based funding
- New York’s 2021 budget includes $25 million dedicated to the New York Restaurant Resiliency Grant Program and $35 million for the Restaurant Return-to-Work Tax Credit
- The Restaurant Resiliency Grant awards funds to restaurants that give meals to under-represented communities
- The Return-to-Work Tax Credit allows restaurants that lost at least 40% of their revenue to receive a $5,000 tax credit for each worker they rehire
- Businesses can apply for 10 workers rehired, with a maximum of $50,000 for tax credits
- New Jersey Governor Phil Murphy signed 6 bills that give additional help to small businesses in the state, including a relief package for $30 million dedicated to bars and restaurants
- $20 million is set aside for grants for restaurants and operators with the other $10 million given to entities that purchased in-bulk restaurant meals for those in need
- There’s a $25 million fund for new restaurants, retailers, and other service providers to help restore storefronts empty as a result of COVID-19
- Ohio has set aside $100 million for a restaurant grant fund
- Restaurants, bars, coffee shops, food, trucks, cafeterias, and other businesses can apply for grants of $10,000, $20,000, and $30,000; depending on revenue losses
Links:
Happy Mouth Podcast - July 12, 2021: SBA Shutting Down The RRF
Restaurant Dive - Tracking 2021 state restaurant aid
Restaurant Dive - NRA urges states to offer grants as RRF runs dry
Restaurant Dive - NY passes budget that includes $60M in restaurant relief
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