Tazewell, Va. – Tazewell County Administrator Eric Young announced the second round of CARES (Coronavirus Aid, Relief and Economic Security) Act funding by the Board of Supervisors which will provide an additional allocation to local towns to mitigate the impact of COVID-19 on small businesses. The funding will be utilized in the form of a grant providing emergency support to establishments who suffered financial loss after being forced to close or alter their businesses for more than two months.
Young explained “Due to the mandated shut down, many businesses within Tazewell County are struggling; this funding will have a major impact in helping them recover and assist our local economy as the Commonwealth continues to reopen.”
The CARES Act provided Tazewell County just over $3.5 million or approximately $86 per county resident. Under U.S. Treasury guidelines, the funding must be used by December 30th and may not fill shortfalls in government revenue.
Today’s announcement is part of $550,000 directed on June 25th by the Board to provide immediate and direct assistance to the community. “The last few months have been incredibly challenging for our small businesses resulting in establishments incurring unprecedented out of pocket expenses to protect their customers and employees. These dollars will provide much needed relief by assisting with costs such as PPE, rent, mortgage expenses, supplier payments, utilities and sanitation supplies” said Chair to the Board Charlie Stacy.
The grant is broken down into three industry segments – restaurant, retail and general commerce, with each segment receiving a $100,000 allotment. Distribution of restaurant and retail funding was determined by the number of categorized businesses within the towns and county. General commerce was based on the town and county’s population.
Restaurants Bluefield - $30,000 Cedar Bluff - $3,000 Pocahontas - $1,000 Richlands - $23,000 Tazewell - $23,000 Tazewell Co. - $20,000
Retail Bluefield - $14,000 Cedar Bluff - $5,000 Pocahontas - $1,000 Richlands - $16,000 Tazewell - $14,000 Tazewell Co. - $50,000
General Commerce Bluefield - $12,000 Cedar Bluff - $3,000 Pocahontas - $1,000 Richlands - $13,000 Tazewell - $10,000 Tazewell Co. - $61,000
Young stressed “The importance of our small businesses cannot be underestimated. They are the lifeblood of our community. The Board directed this funding as grants, not loans, to assist in preserving jobs and lessening the economic impact of this pandemic. If you are a business located inside one of the Towns in the County you should contact your Town Offices to apply. If your business is not located in any town you should watch our County Board's website in the days ahead for details on how to apply. We encourage those eligible to take advantage of this opportunity.”
The distribution of the funds will be left to the discretion of the each town under rules mandated by the U.S. Department of Treasury. The remaining $3 million allocation from the CARES Act will be dispersed this year as the progression of the disease is better understood.
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