The federal Stimulus Package is a complicated policy that is rolling out in phases. Read an overview and analysis of the phases here.
Phase I and II
Phase I and II of the Stimulus Package focus on immediate COVID-19 response and do not provide support for tourism and building a recreation economy. Support for these areas of economic growth will likely depend on the ability of individuals and organizations to think creatively about using funding from Phases III and IV.
Phase III of the Stimulus Package provides economic development supports that can be applied to tourism and the recreation economy.
$1.5 billion in Economic Development Administration (EDA) grants.
Tourism is specifically named in the policy as an industry that EDA grants can be used to help rebuild. These grants are also intended to capitalize local funds to provide low-interest loans to businesses of all sizes, and support other locally-identified priorities for economic recovery.
These grants may also offer an opportunity to leverage additional funding. Based on the impact of prior funding packages, EDA estimates leveraging an additional $20 billion in local and private investment and supporting more than 100,000 American jobs.
Funds are expected to be available to qualified applicants by April 30th, 2020. Specific application and qualification details are still in the works. For more information or support in applying for these grants, please contact: Tracy Rowan at firstname.lastname@example.org.
We will continue to keep you up to date as more information on the timeline and application process become available.
Are you working on implementing these or other policy solutions related to tourism and the recreation economy? We want to hear more about the work you’re doing and help you share important information.
Please contact Policy Coordinator Taylor Bennett at email@example.com.
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