Massachusetts: $30.4 Million in Grants to Businesses

Massachusetts: $30.4 Million in Grants to Businesses

BOSTON, MA (STL.News) the Baker-Polito Administration announced the award of $30.4 million in grants to 602 additional Massachusetts businesses though the COVID-19 business relief program ?administered by the Massachusetts Growth Capital Corporation (MGCC).

With the addition of these? grants, the Administration has awarded a total of over $682.4 million in direct financial support to 15,004 businesses across the Commonwealth.

Among the 602 businesses receiving funding, grants were awarded to 126 minority-owned, and 115 woman-owned businesses; 97 recipients are located in Gateway Cities, and 100 businesses have not received any prior aid.

MGCC’s business relief grant program was established to provide direct support for businesses, with a focus on specific economic sectors and priority demographics known to be the most impacted by the COVID-19 pandemic.

This business relief program is a key part of the Administration’s larger strategy to support small businesses and foster economic recovery across the Commonwealth.  Through Small Business Technical Assistance grants, as well as matching grants for Community Development Financial Institutions and Community Development Corporations, the Administration is investing a record amount of funding in the organizations across Massachusetts that are providing services and capital to small businesses, many of them owned by women, minorities and veterans and serving disadvantaged communities.

These awards are part of a steady deployment of grants and capital funding to support economic recovery throughout Massachusetts.

Last week, the Administration announced the award of 37 grants totaling $5 million to cities, towns, and non-profit entities through the Regional Pilot Project Grant Program.  Among the funded proposals are projects to launch business empowerment and marketing initiatives, activate vacant storefronts as pop-up retail, support regional supply chain resiliency, and create small business support networks.

This week, the Administration also awarded $1.6 million to 59 tourism organizations, chambers of commerce, and cities and towns through the new Travel and Tourism Recovery Grant Pilot Program, in order to promote recovery in the tourism industry.  Many of the supported projects are aligned with the Commonwealth’s My Local MA marketing initiative to encourage residents to support their local economies by shopping at Massachusetts businesses and attractions.

As part of the Partnerships for Recovery economic strategy announced in October, 125 communities are currently working with consultants to pursue locally-driven, actionable strategies to support downtown and commercial districts thanks to $9.5 million awarded through the Local Rapid Recovery Planning program.  Additionally, the Commonwealth has invested $21.1 million since June 2020 in municipal projects through the Shared Streets and Spaces program, designed to help cities and towns implement changes to promote commerce like outdoor dining while supporting public health.?

About Maryam Shah 5718 Articles
Maryam Shah is a teacher, mother, and wife. She is dedicated to publishing news provided by the US Department of State, State Governors, and more. She constantly monitors the web for the latest news updates, quickly publishing stories to help keep the public informed.