The small businesses that comprise Minnesota’s hospitality industry would have the opportunity to receive immediate and direct financial aid if legislation discussed in today’s Jobs and Economic Growth Finance and Policy Committee becomes law. The legislation, SF 2695, would establish a Hospitality Recovery Grant Program which will help this hard-hit industry recover according to Chief Author Senator Matt Klein (DFL-Mendota Heights).
“Our hospitality industry was one of the hardest hit by the effects of the COVID-19 pandemic and many of these small mom and pop businesses are struggling today,” said Senator Klein. “They don’t have the resources of the big multi-national or multi-state chains, and they need support to get back on their feet. This grant program would go a long way in delivering direct and immediate aid, and would help these businesses across the state.”
The Hospitality Recovery Grant Program would be administered by the Department of Employment and Economic Development, with total funding of $2.8 million. Qualifying businesses would be eligible for up to $10,000 in grants. Qualifying businesses are defined as for-profit or nonprofit businesses including but not limited to restaurants, drinking places, and entertainment venues.
The bill was laid over for possible inclusion in the 2022 Jobs and Economic Growth and Finance Policy omnibus bill.