What does the $1.9 trillion stimulus mean for metro-Atlanta businesses and developers? A key priority of both Congress, and the Biden Administration, is to support American communities experiencing negative social and economic impacts as a result of the COVID-19 pandemic. The proposed stimulus, titled the American Rescue Plan Act of 2021, has goals that include the reopening schools, infrastructure improvements, and supporting small businesses as they navigate through the current economic climate. Small business owners and entrepreneurs should pay special attention to announcements related to the American Rescue Plan, as the proposed stimulus package has provisions to provide grants, loans, and investment to support small business owners and entrepreneurs as they work to reinvigorate their communities.
The current economic crises can have significant impacts on our region, especially when people reduce time and spending at bars, restaurants, coffee shops, and other communal gathering locations. Further information from the Atlanta Regional Commission indicates that the pandemic has had significant impacts on metro-Atlanta, identifying Air Transportation, Accommodation, and Food Services as among distressed industries in the region. Small business owners and entrepreneurs should closely monitor announcements related to the American Rescue Plan, and make plans to capitalize on any low interest loans, grants, or investment opportunities facilitated by this and other pieces of legislation.