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Gov. Wolf proposes $145 million fund transfer for business aid

Pennsylvania businesses whose operations and revenue were adversely affected by the pandemic could have access to $145 million in grant funding, pending approval from the state legislature.

Gov. Tom Wolf announced on Wednesday that he is looking to transfer $145 million in funds from the Workers’ Compensation Security Fund at the state Insurance Department to be used in grants for businesses.

“Business owners and employees have worked hard to protect their customers and their communities during this pandemic, and I thank all of those who have prioritized health and safety despite the hardship of the past several months,” Wolf said. “Our business owners and workers have been forced to make sacrifices because of COVID-19 and they need and deserve our support.

Before the funds can be distributed to businesses through grants, the fund transfer into the state’s general fund will need legislative authorization, the Wolf Administration wrote in a press release.

Since March, the state has provided over $525 million in relief to businesses and non-profits along with federal support through programs like the Paycheck Protection Plan.

Earlier this month, Wolf announced that the state would be shutting down indoor dining and alcohol sales from Dec. 12 to Jan. 4.

The move was lampooned by businesses, especially restaurant owners, who said that there was not enough warning for the closures and there was no safety net offered to businesses as there was in March thanks to the Paycheck Protection Program and additional unemployment compensation.

Ioannis Pashakis
Ioannis Pashakis is the Central Penn Business Journal's assistant editor. Email him at [email protected].