How CARES Act monies helped Pierce County business
One day after Gov. Jay Inslee issued a “stay at home” order March 23, 2020, the Pierce County Council passed its first ordinance to help local small business.
The ordinance established the Small Business Relief Loan Program, which was initially meant to help bridge what at the time was expected to be a short period of potential revenue loss due to the then-emerging COVID-19 pandemic. Initial funding came from the county’s general fund and was later backfilled by the federal Coronavirus Aid, Relief and Economic Security (CARES) Act monies.
In the following months Council continued to take swift action to create additional programs aimed at helping local businesses with things like commercial mortgage and rental assistance, a youth and young adult internship program and creating the innovative Restaurant Rally event that ultimately reimbursed participating restaurants for 100 percent of eligible sales during a two week period.
The county’s Economic Development Department implemented these programs quickly, which in turn helped get $46.5 million in federal CARES Act monies into Pierce County’s business community over the course of roughly nine months.
During a Jan. 26, 2021 Economic & Infrastructure Development Committee meeting Economic Development Director Betty Capestany shared a report that outlined in detail how the county provided vital supplies and funding to Pierce County businesses to help them continue to operate and stay open. View the Jan. 26, 2021 EIDC meeting.
Click image to view full report.