BOSTON – A new economic development bill that authorizes over 600 million dollars in COVID-19 funding to be used to support businesses, investments in infrastructure, and job creation was signed into law last week.
The bill was supported by Cape & Islands State Senator Julian Cyr (D-Truro).
“Our seasonal economy on Cape Cod and the Islands relies on tourism, hospitality, and the ability to travel and socialize. Predictably COVID-19 has sacked through our way of life and left so many residents anxious about lost income and wondering how they can continue to make a life here in future seasons,” said Cyr.
The COVID-19 pandemic relief and recovery aspect of the bill includes Bonding Authorizations which include $30 million for the states COVID-19 payroll protection program and $20 million for restaurant recovery grants. As well as Policy Changes which institute limitations on third party delivery services to 15 percent.
The bill also reserves funds for Housing, Employee Protections, Business Growth, and Agriculture and Rural support.
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