Gov. Ducey announces additional $5 million for small businesses
TUCSON, Ariz. (KOLD News 13) - Governor Doug Ducey has announced an additional $5 million to help small businesses in Arizona recover from the economic consequences of the COVID-19 pandemic and extreme weather conditions.
Gov. Ducey launched the “Back to Work Small Businesses Rehiring and Retention Program” in August, and has invested $10 million in the program to support small businesses, according to a news release.
The additional $5 million will fulfill the outstanding requests from applicants.
“Small businesses are the backbone of Arizona’s economy, and we’re dedicated to helping them fully recover,” Governor Ducey was quoted as saying. “I’m optimistic today’s additional investment will help small businesses around the state bounce back from the countless challenges of this past year and build for the future. I thank the small business community for their resilience and their continued efforts to help Arizona emerge out of the pandemic stronger than ever.”
An Arizona business must meet certain eligibility requirements to receive funding. A business must be: owned and operated in the state of Arizona; incorporated before January 1, 2020; rent or lease a physical location in Arizona; and have between five and 25 total employees that work at the physical location. Eligible businesses in areas impacted by wildfires or floods may have up to 50 employees.
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