The Placer County Board of Supervisors today authorized an additional $2 million in Placer Shares Impact Grants to support businesses impacted by the COVID-19 pandemic. To date, the county has allocated $16 million in grant funding in order to assist struggling businesses and nonprofits.
“With these additional funds, our goal is to further bolster our business community during this challenging time,” said Board Chair Bonnie Gore. “We hope to give our businesses resources to innovate and pivot to safely keep doors open, keep individuals employed, and keep our economy going.”
A total of $700,000 will go toward fully funding eligible businesses that applied to the previous round of grants that concluded on Nov. 20. The remaining $1.3 million will be available to businesses impacted by recent state closures that were not eligible for the latest round of grants. The funding will also be available for chambers/community collaborations and multi-business innovative solutions, for projects such as creating community outdoor dining establishments.
The $16 million is federal funding provided through the Coronavirus Aid, Relief, and Economic Security Act and is intended to offset expenses related to the COVID-19 pandemic. Placer County has allocated 39% of its CARES funding to grant programs supporting businesses and nonprofits, a higher percentage than any other California county.
Additional information regarding Placer Shares Impact Grants can be found at placer.ca.gov/shares.