Rochester, NY – Economic Development Chair Assemblymember Harry Bronson today announced $1 Billion in small business recovery relief included in the Economic Development portion of the 2021-22 NYS Budget.

“2020 challenged our economy more than ever before. Our small businesses were tested time and time again and some were forced to close their doors. This budget needed to meet the moment and deliver economic assistance ensuring open doors instead of closed ones,” Bronson said. “As businesses and workplaces closed to prevent the spread of COVID-19, businesses were forced to shoulder an incredibly heavy financial burden. They did their part and now it is time for the state to do its part.”

The 2021-2022 SFY Budget provides $1 billion for a comprehensive business relief package:

• $800 million in flexible aid for small-business grants (The COVID-19 Pandemic Small Business Recovery Grant Program)
• $25 million for the NY Restaurant Resiliency Grant Program
• $100 million for a musical and theatrical production credit
• $40 million for the Arts Recovery Grant Program for not-for-profit arts and cultural organizations
• $35 million in tax credits for restaurants in areas impacted by enhanced COVID restrictions

“As Chair of the Economic Development Committee, I fought for an inclusive economic recovery plan for all our families that promotes economic, social and racial equity,” Bronson said.“Assisting small businesses that have been severely impacted by the pandemic was a top priority of mine. The COVID-19 Pandemic Small Business Recovery Grant Program will help small-business owners cover a wide range of expenses. This grant program gives priority to micro businesses with 10 or less employees as well as socially and economically disadvantaged business owners including, but not limited to, minority and women-owned business enterprises, veteran-owned businesses, and businesses located in communities that were economically distressed prior to March 1, 2020, as determined by the most recent census data. These investments in our small businesses and other industries will help ensure our families have jobs and we all can recover stronger than ever from these trying times.”

“We are on our way to recovery,” Bronson said. “I look forward to working with my Assembly colleagues to ensure our investments in economic development create and retain jobs for our families and, importantly, are complemented by investments in workforce development so our emerging and expanding industries have access to skilled workers and all our families have more opportunities to succeed. Hardworking New Yorkers are the foundation of our local economies, and I will always fight to make sure we are supporting them and investing in our future.”