The provincial government is dishing out $25 million in support of the tourism and hospitality industry.
Premier Dwight Ball and Minister of Tourism, Culture, Industry and Innovation, Bernard Davis, made the announcement late this morning.
Under the Tourism and Hospitality Support Program, provincially registered small and medium-sized tourism operators will be able to apply for a one-time, non-repayable grant of either $5,000 or $10,000, dependent on gross sales.
Davis says today’s announcement will supply more relief to eligible operators. Offers mixed supports and there is no one answer.
Will help cover business costs and provide immeadiate financial relief. @VOCMNEWS #covid19nfld
— Ben Murphy (@VOCMBen) May 25, 2020
Those with under $100,000 in gross sales will receive a $5,000 contribution, and those making over $100,000 will receive $10,000.
Minister Davis says the program will help operators cover some of their fixed month-to-month business costs.
He says it will provide immediate financial relief to operators that are dealing with substantial losses as well as fixed operating costs, providing support as many in the industry prepare to open.
Applicants will have to meet various criteria like showing revenue loss in March and April 2020, or forecast sales losses from May to August 2020.
➡️Minister @bernardjdavis said:
"The Tourism & Hospitality Support Program will help to fill a gap for operators that are being significantly impacted by reduced non-resident visitation which exceeds more than half a million visitors every year."
5/5#TourismMatters#GovNL— Tourism, Culture, Industry and Innovation NL (@TCII_GovNL) May 25, 2020
Eligible operators can begin to apply on Monday, June 8th and Davis hopes to have money rolling out by June 9th.
The $25 million for the program will come from government’s COVID-19 contingency fund.
Davis acknowledges the plan is not perfect, and it will complement other provincial and federal financial relief programs.
More information, including eligibility criteria, will be available on the Department’s website in the coming days.
New supports on the way for our tourism and hospitality sector. https://t.co/EdlVzctiHX
— Premier of NL (@PremierofNL) May 25, 2020