Racine, WI, Restaurants Receive New Grants
- Author: Chris Remington
- Posted: 2024-11-07
How Phase 3 of the Grants Will Work
The Wisconsin COVID-19 relief program is called We're All In. In this round of funding, businesses don't have to do anything to receive the grants. Eligible companies will be identified by the Department of Revenue based on their state tax records. No application is required. According to early estimates, restaurants will be 95% of the businesses eligible for the funds. The program targets businesses that have an annual revenue of $1 million to $7 million. Past grant programs from the We're All In initiative focused on smaller businesses with less than $1 million in annual revenue.
What Restaurant Owners Have to Say
One restaurant owner said that the funding will be a much-needed lifeline for their business. She thought it was great because the first round did not apply to her business. She thinks it is a smart move on the state's part to expand the revenue range because these mid-size businesses are still suffering from the economic impacts of COVID-19. Her business opened in early 2019 and uses a farm-to-table concept. The business was not eligible for phase 1 funding and is still waiting on $5,000 from phase 2 funding. The business owner said that the money will help with their operating expenses and overhead. She added that the pandemic has had a stressful toll on their family, the restaurant and their 20 workers and their families. The pandemic has been like a roller coaster in the dark. People cannot see what is coming next. They are doing their best, and the funds mean one less thing to worry about.
Restaurants Are Critical to Wisconsin's Economy
Wisconsin is home to 12,796 bars and restaurants. Before the COVID-19 pandemic, there were 284,600 restaurant and bar workers. That accounted for 9% of the state's employment. The industry generated $10.1 in revenue in 2018. Governor Evers said that restaurants need the funding in order to stay open and return to business once people are immune to COVID-19.
How Much Funding Each Restaurant Can Get
Each eligible business will get $20,000 by the end of the year. The distribution of the funds will start on December 21. The total assistance to businesses from the state of Wisconsin's CARES Act allotment has been more than $220 million.
How Each Phase of CARES Act Grants Was Distributed
This latest distribution was the third phase of Wisconsin's We're All In initiative. The first phase delivered $65 million to 26,000 businesses. The second phase, which is wrapping up now, distributed $120 million to more than 24,000 businesses across the state. Governor Evers said that the tough decisions restaurant owners have had to make have included restricting indoor seating, providing outdoor eating areas, setting up deliveries and increasing curbside pickup for take-out orders. With winter coming, a lot of these activities won't be feasible. This extra support comes at a critical time. CARES Act funding expires on December 31.
What Wisconsin Politicians Have to Say About the Grant Funding
Wisconsin Assembly Speaker Robin Vos, a Republican from Rochester, welcomed the news about the grant distributions. She thanked the governor for focusing on restaurants and the hospitality industry. She added that restaurants have suffered from the lockdowns and local restrictions set up throughout the pandemic in efforts to curb the spread of COVID-19. She is pleased that restaurant owners are among those getting relief during these difficult times.
What Business Leaders Think About the Grant Distribution
Dave Blank, who is President and Chief Executive Officer of Real Racine, said that it is great to see restaurants and bars getting some economic relief. Real Racine is a nonprofit marketing organization that oversees tourism and development in Racine County. Most of these businesses are small, and they employ thousands of residents who need their income in order to stay financially afloat. Restaurant owners need the funds to stay open because the limits on patron capacity have done a lot of damage to their income. COVID-19 cases continue to surge as cold winter weather arrives in Wisconsin and the northern states.
