02 Nov COVID-19 Economic Impact Update and Resources
|November 2, 2020 Governor Mike DeWine and Lt. Governor Jon Husted recently announced a package of more than $419.5 million in CARES Act funding to help Ohioans and up to $5 billion in dividends for Ohio employers to ease the continued financial impact from the COVID-19 pandemic. These opportunities and other resources available through the Office of Small Business Relief and Development can be found at businesshelp.ohio.gov. |
CARES Funding: Applications Now Open Small Business Relief Program: The package includes $125 million in CARES Act funding to provide grants to small businesses with no more than 25 employees. The grant funding will help businesses pay for a variety of expenses, including mortgage or rent payments; utility payments; salaries, wages, or compensation for employees and contractors; business supplies or equipment; and other costs. The application for the Small Business Relief Program is now available at businesshelp.ohio.gov.
Bar and Restaurant Assistance Fund: The administration will also designate $37.5 million of CARES Act funding for the Bar and Restaurant Assistance Fund. This fund will be available for Ohio restaurants and bars struggling financially as a result of the COVID-19 pandemic and limited in the full use of their liquor permit. Businesses with an on-premise consumption permit will be eligible to receive $2,500 per unique business location. Businesses need to have an active on-premise permit as of close of business October 23, 2020. Starting today, permit holders can apply for assistance at businesshelp.ohio.gov.
Home Relief Grant: The administration is allocating $50 million from the Coronavirus Relief Fund to 47 Community Action Agencies to provide rent, mortgage, and water and/or sewer assistance to Ohioans in need. This assistance will help Ohioans pay outstanding balances back to April 1, 2020. Ohio households behind on their bills with an annual income at or below 200% of the federal poverty guidelines will be eligible for assistance. For a family of four, that is an annual income up to $52,400. Starting today, Ohioans can apply for assistance through their local Community Action Agency. A list of agencies can be found at businesshelp.ohio.gov.
BWC Dividends Governor Mike DeWine and Lt. Governor Jon Husted requested that the Ohio Bureau of Workers’ Compensation (BWC) send up to $5 billion in dividends to Ohio employers to ease the continued financial impact from the COVID-19 pandemic. BWC’s Board of Directors will meet today, Monday, November 2, 2020 to vote on this special request. If approved by BWC’s Board of Directors, it would bring the total dividend dollars for employers this year to nearly $8 billion. The $5 billion dividend would be BWC’s third dividend of more than $1 billion this year, and the largest one-time dividend ever issued by the BWC. BWC distributed $1.54 billion in April and $1.34 billion in October. At $5 billion, this dividend is approximately four times the total premiums BWC collected from its employer members in policy year 2019.
FOR MORE INFORMATION:
ONLINE: Please visit www.Coronavirus.Ohio.gov for the most up-to-date information from the Ohio Department of Health. PHONE: For any questions you have about COVID-19, please call 1 (833) 4-ASK-ODH from 9:00 a.m. – 8:00 p.m (7 days/week). SOCIAL MEDIA: @GovMikeDeWine @LtGovHusted @OHDeptofHealth
LIVE UPDATES: Governor DeWine is holding press briefings at 2:00 p.m. multiple days each week to deliver the most recent updates as well as give updated guidance for the state’s response. These press events are carried live at www.OhioChannel.org.