At present, Howard County Govt Calvin Ball and the Howard County Financial Improvement Authority (EDA) launched a report immediately detailing the HoCo RISE Enterprise Help Grant Program and its impression on supporting native companies in the course of the pandemic. As of January 31, 2021 HoCo RISE has dispersed greater than $13.55 million in grants to 1,483 Howard County Companies.
This funding consisted of:
· $2.51 million in State of Maryland Wet Day funds for eating places; and
· $11.04 million in CARES Act funding designated by Howard County for HoCo RISE Enterprise Grants.
“Companies in the course of the previous yr have confronted uncertainty and an unpredictable future at practically each flip,” mentioned Ball. “Now we have practically 10,000 companies that decision Howard County house, and since final summer season, we’ve got offered greater than $13.5 million in funding to our eating places, small-retailers, farms, resorts, reside venues, and childcare suppliers. We’re extremely grateful to our companions on the EDA who’ve been very important in informing our neighborhood about these grants, and ensured funding reached those that wanted it most. We’re additionally grateful to the State for supporting a few of our hardest hit industries, eating places and lodging. These companies survival will probably be essential to our highway to restoration from this pandemic.”
The funding was distributed in two rounds. There have been 674 enterprise that obtained Spherical 1 funding and 809 companies that obtained Spherical 2 funding. The report particulars the demographics and districts of companies that obtained grants. The Ball Administration and Howard County Financial Improvement Authority have been targeted on companies that have been most severely impacted by the mitigation measures and enterprise closures. Greater than 76% of companies that obtained grants are girls, minority, or veteran-owned.
“Your entire workforce on the Authority has been working tirelessly to deploy these grants to Howard County companies,” mentioned Larry Twele, Howard County Financial Improvement Authority CEO. “We’re proud to be a part of the workforce that has been capable of serve the neighborhood and supply this help by the Govt’s HoCo RISE initiative.”
The grant utility additionally included a enterprise questionnaire asking firms concerning the County’s COVID-19 response and assist. The survey outcomes included:
· Practically 97% of companies rated the responsiveness of the Howard County Authorities in the course of the pandemic as “good”, “excellent” or “glorious”.
· Respondents famous that the three largest challenges companies will face within the subsequent 12 months are, “managing enterprise by social-distancing measures,” “unpredictability of companions/shoppers/purchasers on this surroundings,” and “client confidence within the state of the economic system.”
· Most companies additionally famous that the most important pivot they’ve made all through the pandemic is “specializing in security.”
“The resilience of Howard County companies is great. But, willpower can solely go to date when capital is required,” mentioned Leonardo McClarty, President/CEO of the Howard County Chamber of Commerce. “The HoCo RISE grants are offering assist precisely the place small enterprise want it and that’s the checking account.”
In February, Ball introduced Spherical 3 of the grants which included $2 million in County funds for companies, $1.5 million from the State for eating places, and $1.6 million from the State for resorts. This spherical of funding simply closed, with 276 purposes for home-based and different companies, 173 purposes for eating places, and 30 purposes for resorts. Companies receiving grants on this third spherical can count on their funding by the tip of March.
“Go to Howard County commends Howard County Govt Calvin Ball for his work in offering much-needed financial catastrophe reduction to small retail, farm, resort, and restaurant companies,” mentioned Amanda Hof, Govt Director of Go to Howard County. “This help will assist these companies reopen and supply the tourism facilities that make Howard County a gorgeous place for residents and guests alike.”
To learn the complete report, please click on here.
Scott E’s Weblog has been making an attempt to acquire detailed details about the HoCo Rise Grant Funding for greater than a month (even to the purpose of placing in a MPIA request for info on February twenty eighth).
I’m blissful to see this report come out and a few of the info inside it. I’ll wait on the extra detailed info requested in my MPIA request and can make a willpower at the moment if I’ll do a comply with up article right here on the weblog.