Bruce County is providing some support to local businesses through a new fund to provide grants and loans.
County council approved a $1.75-million investment into the Support The Bruce: Business Sustainability Fund. More details about how the initiative will work and what businesses will be eligible are expected to be finalized and announced in the coming weeks.
In a prepared statement, Bruce County Warden Mitch Twolan says "Bruce County's businesses define our communities. I'm proud of to support the work that the Bruce County Economic Task Force is doing to keep our businesses open during - and after - these difficult times.”
The creation of the fund was a collaboration between the county and the Bruce County Economic Task Force.
The task force was launched in March with a first priority to quantify the impact of COVID-19 on local businesses. It consists of local business owners and stakeholders from across Bruce County, representing all eight municipalities.
“The Economic Task Force was formed to first stabilize – and eventually recover and grow - the Bruce County economy in the wake of COVID-19,” says Kara Van Myall, Bruce County’s Director of Planning & Development / Recovery Coordinator. “’This new fund is an exciting first step, embraced by Bruce County Council, to tackle economic stabilization, supporting our local businesses by addressing the very real financial impact they are facing.”