$500 million to be distributed to struggling businesses statewide
RALEIGH, NC (December 16, 2021) – Today, President and CEO of the North Carolina Restaurant & Lodging Association (NCRLA) Lynn Minges responded to the opening of the North Carolina Business Recovery Grant Program. This $500 million dollar program is an historic investment into the survival of North Carolina’s hospitality industry and other small businesses. This grant was championed by NCRLA and we applaud the N.C. Department of Revenue for their quick implementation and development of the grant application and process.
The $500 million grant program released today is the largest appropriation from any state for the hospitality industry in the country. Under this program, an individual business who has seen 20% or more in loss could receive up to $500,000 in direct grants. In recognition that the hospitality industry was especially hard hit, $300 million of these funds are specifically protected for businesses in NAICS Code 71 & 72, which is primarily restaurants, hotels, bars, and other entertainment businesses.
“North Carolina’s restaurants, hotels and bars saw over $5 billion in losses due to no fault of their own. These grants will be transformative to businesses across the state who have been devastated by the COVID-19 pandemic. We are grateful to state lawmakers for providing this funding and to the N.C Department of Revenue for their quick implementation of the program,” said Lynn Minges, President and CEO of NCRLA.
Established in 1947, the North Carolina Restaurant & Lodging Association (NCRLA) works to advance and protect North Carolina’s $31 billion restaurant, foodservice and lodging industry. The association provides access to the resources and support restaurant and lodging professionals need to lead thriving businesses, while serving as conscientious, contributing members of an unparalleled industry. To learn more information about NCRLA or its membership opportunities and cost-saving benefits, please visit www.ncrla.org.
Chief Strategy and Communications Officer