- July 13, 2021
- Posted by: Stratford Team
- Category: Business
VIRGINIA BEACH, Va. (WWBT) – Governor Ralph Northam announced his first American Rescue Plan funding budget proposal is for $353 million to help the recovery of small businesses and tourism.
Northam, state senators, and delegates announced the proposed investment at an event at Neptune Park at the Virginia Beach Oceanfront Monday afternoon.
The proposed distribution for the project is $250 million for the Rebuild VA economic recovery fund, $50 million for Virginia Tourism Corporation initiatives and $53 million for other small businesses including the Industrial Revitalization Fun and Virginia Main Street program.
Virginia has $4.3 billion in federal funding from the American Rescue Plan that is meant to aid Virginia’s recovery from the pandemic by allocating the funds to the various projects. The Virginia General Assembly and Northam released a joint statement outlining their intentions for the spending in May.
“Virginia is roaring back stronger than…
