$25 million in federal funding allocated to local Wisconsin businesses The Badger Herald

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An additional $25 million in federal funding has been made available to help thousands of small businesses move into vacant storefronts in downtowns across the state of Wisconsin, according at TMJ4.

The Main Street Bounceback Grant Program, supported by funds from the American Rescue Plan Act, aims to give Grants of $10,000 to Wisconsin businesses to bring successful businesses back to inner cities, according to the Wisconsin Economic Development Corporation Secretary and CEO Missy Hughes.

“Local businesses are key to the success of communities,” Hughes said in an emailed statement to the Badger Herald. “Not only do they provide the goods and services we need, but they create jobs and contribute to the quality of life in our communities. »

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The program was first introduced by Governor Evers in April 2021 to help communities recover from COVID-19. Evers announcement On Tuesday, another $25 million would be invested in the program, bringing the total to $100 million, Hughes said.

The program has approved more than 6,200 grants of $10,000 to businesses and nonprofits in the state’s 72 counties, including 444 for businesses or nonprofits in Dane County, a said Hughes.

New or existing businesses or nonprofit organizations that lease or purchase commercial space of at least 400 square feet in Wisconsin are eligible for the grant, Hughes said.

Hughes said the program brings a new spirit and excitement to Wisconsin towns.

“Where Main Street Bounceback businesses open, there’s always so much excitement and pride,” Hughes said. “There is also a new sense of vitality as these unique small businesses bring new people into the community.

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The new funding will help bring the total of small businesses and nonprofits the program has helped to 10,000, according to a WEDC Press release.

The US Bailout Act was passed in 2021, aiming to use federal funding to help with COVID-19 recovery. The Main Street Bounceback program is being awarded the additional $25 million in those funds due to higher-than-expected demand, according to the WEDC press release.

“I think it’s important to remember that these small businesses are someone’s dream,” Hughes said. “For more than 6,200 Wisconsin entrepreneurs, their dreams are now a physical reality.”

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