9.
City Council Work Session
- Meeting Date:
- 03/28/2023
- From:
- John Saltonstall, Business Retention & Expansion Manager
- Department:
- Economic Vitality
Co-Submitter:
Trace Ward, CVB Director, Discover Flagstaff
TITLE:
American Rescue Plan Act (ARPA) Funds Supporting the Local Economy
DESIRED OUTCOME:
Increased awareness of efforts to support the Flagstaff economy.
EXECUTIVE SUMMARY:
Flagstaff City Council successfully directed the provision of funding to support the Flagstaff economy and businesses impacted by the pandemic. The Economic Vitality Division managed the development of programs to provide $150,000 in grant funding to Tourism, Travel or Hospitality, and to provide $300,000 in grant funding for small business by way of the Small Business Assistance Grant.
INFORMATION:
Discover Flagstaff and Economic Development developed and managed separate programs and respective funding to support local businesses in their specific focus areas. Discover Flagstaff focused on Tourism, Travel, and Hospitality while Economic Development assisted non-tourism focused small businesses. Discover Flagstaff provided funding to all 24 of the businesses that applied for Tourism, Travel or Hospitality grants. Economic Development is working to fund 42 of the 105 businesses that applied for the Small Business Assistance Grant. Businesses that had not already received Federal or other government assistance were prioritized. All businesses that had not received other assistance, were in the community, and had been damaged by the pandemic were offered assistance in the program. The majority of Flagstaff area businesses were impacted by the shutdowns and the requests for support through the Small Business Assistance Grant which far exceeded the total budget for the Economic Development funding which demonstrates the challenges for businesses to recover.
Many businesses that received funding expressed gratitude to the City of Flagstaff for the financial support, and all businesses that participated are extremely grateful to the City Council for the programs that support the local businesses and the local economy.
Many businesses that received funding expressed gratitude to the City of Flagstaff for the financial support, and all businesses that participated are extremely grateful to the City Council for the programs that support the local businesses and the local economy.