Evers authorizes additional $100 million on small business funding
Funding to include lodging, live music industries and privately-owned movie theaters
Star Journal Report
Gov. Tony Evers has announced today that his administration is providing additional “economic stabilization” for small businesses and communities hardest hit by the COVID-19 pandemic. The $100 million will be funded through the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act.
Included is $10 million to support privately-owned movie theaters, like those in the Northwoods. Rouman Cinema owner George Rouman of Rhinelander is the President of the National Association of Theatre Owners of Wisconsin and Upper Michigan.
“By acknowledging the tremendously dire situation that our industry is facing in the midst of this pandemic, Gov. Evers has created a program to help bridge us to the other side,” Rouman said, adding that after nearly six months of closure in 2020 the funding will help movie theaters in Wisconsin survive, but only in the short term.
“Due to a continued loss of new movie content from Hollywood studios, the real long-term help we need requires action at the federal level – by our U.S. Senators and Congressional delegation,” Rouman said. “Without this assistance it’s estimated that 69% of all small and mid-sized movie theater companies will be forced to file for bankruptcy or close permanently.”
More than $50 million in $5,000 “We’re All In” grants to more than 10,000 small businesses in the state. These grants will be administered by the Wisconsin Department of Revenue. The application period is Oct. 19-Nov. 2.
“Wisconsin’s small businesses have demonstrated unbelievable creativity and ingenuity in adapting to the pandemic,” said Wisconsin Economic Development Corporation (WEDC) Secretary and CEO Missy Hughes. “However, many of them are already stretched to the limit and are concerned about just surviving for the next few months.”
- $20 million for the Wisconsin lodging industry
- $15 million for live music and performance venues throughout Wisconsin
- $10 million for non-profit cultural venues
- $4 million for destination marketing organizations and tourism industry