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Northam proposes $353 million to accelerate small business recovery

Gov. Ralph Northam announced this week that his first budget proposal for American Rescue Plan funding would invest $353 million to boost recovery among Virginia’s small businesses and industries hardest hit by the COVID-19 pandemic.

In May, Northam and General Assembly leaders released a joint statement outlining shared priorities for the $4.3 billion in federal funds available to the commonwealth from the American Rescue Plan.

On Monday, Northam was joined by House Speaker Eileen Filler-Corn, Senate Majority Leader Dick Saslaw, and Dels. Kelly Convirs-Fowler, Nancy Guy and Alex Askew for an event at Neptune’s Park on the Virginia Beach oceanfront to discuss his proposed $250 million investment in the Rebuild VA economic recovery fund, $50 million for Virginia Tourism Corporation initiatives, and $53 million for other small business including the Industrial Revitalization Fund and Virginia Main Street program.

“Virginia is roaring back stronger than we could have imagined on...

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