An additional $25 million in federal funds have been made available to help thousands of small businesses move into vacant storefronts in downtowns all across the state of Wisconsin, according to TMJ4.
The Main Street Bounceback grant program, paid for by funds from the American Rescue Plan Act, seeks to give $10,000 grants to Wisconsin businesses in order to bring thriving businesses back to downtown areas, according to Wisconsin Economic Development Corporation Secretary and CEO Missy Hughes in an email statement to The Badger Herald.
“Local businesses are key to the success of communities,” Hughes said. “Not only do they provide the goods and services we need, they provide jobs and contribute to the quality of life in our communities.”
The program was first introduced by Gov. Evers in April 2021 to help communities recover from COVID-19. Evers announced Tuesday that an additional $25 million would be put into the program, bringing the total to $100 million, Hughes said.
The program has approved over 6,200 grants of $10,000 to businesses and nonprofits in all 72 counties in the state, with 444 of them being for businesses or nonprofits in Dane County, Hughes said.
New or existing businesses or nonprofits that lease or buy a commercial space of at least 400 square feet in Wisconsin are eligible for the grant, Hughes said.
Hughes said that the program is bringing new spirit and enthusiasm into Wisconsin towns.
“Where the Main Street Bounceback businesses open, there’s always such enthusiasm and pride,” Hughes said. “There’s also a new sense of vitality as these unique small businesses draw new people into the community.”
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The new funding will help bring the total of small businesses and nonprofits the program has helped up to 10,000, according to a WEDC press release.
The American Rescue Plan Act was passed in 2021, aiming to use federal funding to aid in COVID-19 recovery. The Main Street Bounceback program is being allotted the additional $25 million from those funds due to more demand than anticipated, according to the WEDC press release.
“I think it’s important to remember that these small businesses are someone’s dream,” Hughes said. “For more than 6,200 entrepreneurs in Wisconsin, their dreams are now a brick and mortar reality.”
