Governor Dan McKee today filed an amendment to his FY 2025 proposed budget that would provide $1.3 million in assistance to those small businesses most significantly impacted by the Washington Bridge reconstruction.
The budget amendment would redirect $1.3 million in State Fiscal Recovery Funds (SFRF) to assist the small businesses most significantly impacted by the reconstruction of the Washington Bridge in the form of direct grants or other business supports, to be determined by the local community. Of those funds, $600,000 would be allocated directly to the City of East Providence and $400,000 to the City of Providence. The State will direct $300,000 to the Executive Office of Commerce as a contingency fund to potentially support any significantly impacted businesses outside of East Providence and Providence. Should the combined need in other communities not exceed $300,000, those funds may be redistributed to Providence and East Providence.
“I know what it’s like to run a small business and be confronted with challenges. We must all get behind the businesses impacted by the Washington Bridge to ensure their continued success for many years to come,” said Governor McKee.
“While the businesses in East Providence and Providence are the most directly impacted by the Washington Bridge reconstruction, effects have been felt statewide,” said Secretary of Commerce Liz Tanner. “Recognizing the critical role small businesses play in our economy, Commerce is dedicating $300,000 to support those affected across Rhode Island, reinforcing our commitment to our small business community.”
The Governor’s $1.3 million proposal is in addition to a $400,000 marketing campaign funded through the State’s hotel tax. The marketing campaign is being created by two Rhode Island-based companies. Together, the direct funding and the marketing campaign aim to provide relief and drive business back into areas impacted by the bridge.
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