WI: WEDC's 'Main Street Bounceback Program' Awards $34 Million to Help Support Small Businesses | Trade and Industry Development

WI: WEDC's 'Main Street Bounceback Program' Awards $34 Million to Help Support Small Businesses

May 02, 2022

The Wisconsin Economic Development Corp. has awarded about $34 million to date to more than 3,400 small businesses and nonprofit organizations in the state through the Main Street Bounceback Program. Each business receives $10,000, which comes from American Recovery Plan Act (ARPA) funding, reports BizTimes–Milwaukee Business News.

The goal of the Main Street Bounceback Program is to provide financial support to businesses that move into existing vacant commercial properties, which helps to revitalize the business communities of municipalities across the state. 

“Small businesses are an essential part of our state and local economies,” said Gov. Tony Evers in a statement. “This program is about making sure we’re investing in our long-term economic success by helping entrepreneurs and new business owners achieve their business dreams while revitalizing main streets in every corner of our state, creating jobs, gathering places, and new opportunities for communities.”

 
Within the city of Milwaukee, reports BizTimes, 538 businesses have so far received one of the $10,000 grants. The city of Racine has had 145 businesses take advantage of the program, and Mount Pleasant saw 143 businesses.

“So far, the City of West Bend assisted more than 50 small businesses apply for Bounceback Grants,” said Jessica Wildes, communications and economic development director. “This infusion of funding has been transformational in filling vacant storefronts and office space downtown and throughout the community.”

Since the program’s inception in 1987, Wisconsin Main Street community projects have resulted in the creation of more than 3,000 new businesses and nearly 16,000 net new jobs. In addition, $2.5 billion in public and private investment has occurred in Wisconsin Main Street communities.

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