IMPORTANT UPDATE
Small Business Relief Grant InformationPrepare your materials NOW and apply MONDAY, November 2, to receive the new State of Ohio relief grants for small businesses, bars and restaurants. Funding for a new Small Business Relief Grant and a new Bar and Restaurant Assistance Fund will be awarded on a first come, first served basis. See below and visit this page for additional details.
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APPLY MONDAY 11/2:Small Business Relief GrantThe State of Ohio will award $125 million in Small Business Relief Grants statewide. For-profit businesses with between 1-25 employees (paid via W2 wages) can apply for grants of up to $10,000. Funds can be used to reimburse certain COVID-related expenses incurred between March 22, 2020 and the date of your application.
Grants will be awarded on a first come, first served basis. Be ready to complete your application quickly by preparing in advance any materials you may have that prove you meet all eligibility criteria.
We have been told that applicants will need an OH|ID account, which allows a business to access programs and applications for multiple State of Ohio agencies with one username and one password. Not sure if you have an OH|ID? Try logging in. If you aren't able to, create a new account now.
Don’t delay! Applying is time sensitive, and it is expected that available funds will be spent quickly. |
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APPLY MONDAY 11/2:
Bar and Restaurant Assistance Fund
A new $37.5 million Bar and Restaurant Assistance Fund is designed to assist Ohio’s on-premise liquor permit holders. Eligible permit holders can receive up to $2,500 per unique business location. Applications open November 2, 2020 and will be accepted through December 30, 2020.
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*NEW* SHDC Small Business Recovery Assistance Grant
Shaker Heights Development Corporation (SHDC) is dedicated to supporting Shaker businesses during the pandemic. SHDC has created the Small Business Recovery Assistance Grant Program to provide minority-owned small businesses one-time grants of between $500 - $1,500 to help businesses mitigate the impacts of the pandemic. Apply here by November 2.
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Dividends for Employers
Upon final approval on Monday, November 2, the Ohio Bureau of Workers' Compensation will award a $5 billion dividend to 178,425 public and private employers to ease the continued financial impact from the COVID-19 pandemic. The payment represents more than three times what employers pay in premiums each year, and it's on top of the $1.5 billion dividend that the bureau just paid to employers in October and another $1.5 billion payment in April.
The amount each company receives will depend on a variety of factors such as number of employees, injury history and industry. Each employers can estimate its dividend by multiplying its October dividend by 3.72. The bureau wants the money in the hands of employers by year's end. Please consult your tax advisors on any potential tax implications.
Funded by employer premiums, BWC provides workers’ compensation insurance to approximately 245,000 private employers, and 4,000 public employers, such as cities, counties, and schools.
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We are here to help. Please note that you should not reply to this message to send us an e-mail. The reply address is automated and will not reach us. Instead, email us at economic.development@shakeronline.com or individually by clicking on our names below. We look forward to connecting with you!
Laura Englehart
Economic Development Director
216.491.1334
Katharyne Starinsky
Senior Economic Development Specialist
216.491.1335 |
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