The Loudoun County Board of Supervisors has devoted $6 million of American Rescue Plan Act funding to the new Lodge Relief Grant Fund, supporting a hospitality field that is having difficulties to get better from COVID-19.
“Hotels, B&Bs and other right away lodging engage in a vital part in supporting all sectors of Loudoun’s lively economic climate. From the business enterprise assembly that secures expense to the spouse and children getaway that supports agritourism, right away stays assistance define Loudoun’s high-quality of existence and facilitate long lasting impressions,” said Loudoun Financial Development’s Govt Director Buddy Rizer. “Coming out of COVID-19 limitations with business travel lagging, our hotels and B&Bs need to have aid. In their moment of greatest require, we assume this grant to be a important shot in the arm to re-open up to complete potential.”
Loudoun has practically 6,000 resort rooms and hundreds extra bed and breakfast rooms.
For suitable applicant companies, the grant will supply $1,000 for every room, up to a optimum of $250,000 for a solitary organization spot.
“We seriously are at the beginning of the restoration for the journey and hospitality business and even though we are observing a return of visitors, our businesses—especially lodging facilities—will confront large income and career decline,” said Go to Loudoun President and CEO Beth Erickson. “A modern tourism economics study confirmed that one out of each and every a few American careers dropped throughout the pandemic was in the tourism sector. This motivation by the Board of Supervisors goes a very long way toward encouraging to restore our field, convey again positions and will crank out useful spending for our corporations, benefiting the county, as a full.”
To be qualified, organizations have to be in very good standing with the county, have been in operation in advance of March 1, 2020, be topic to Loudoun’s Transit Occupancy Tax, show a reduction in revenues of 25% owing to the pandemic since March 1, 2020, and be open up to the community as of Aug. 1. Shorter-term residential rentals are not suitable.
Grant funding may possibly be utilized for typical working fees of charges linked with COVID-19 these kinds of as sanitation.It may perhaps not be applied to purchase unrelated tools or updates.
Uncover much more details about the grants and check out a recorded webinar at LoudounBusinessFund.org.