To assist eligible tourism and hospitality-based operators impacted by the COVID-19 pandemic, the government of Newfoundland and Labrador has announced a $25 million support program for the industry.
Under the Tourism and Hospitality Support Program, eligible small- and medium-sized tourism operators will be able to apply for a one-time, non-repayable working capital contribution of either $5,000 or $10,000, dependent on gross sales.
This short-term program will help enable operators to cover some of their business costs. This support will provide immediate financial relief to operators who are dealing with substantial losses and continued fixed operating costs, providing support as many in the industry prepare to re-open.
In the coming days, program details including eligibility criteria, will be posted on the Department of Tourism, Culture, Industry and Innovation website. Eligible operators will be able to apply starting Monday, June 8.
“The tourism and hospitality industry is among the most impacted sectors as a result of the unprecedented global health crisis,” said premier Dwight Ball in a statement from the province. “This new short-term program will provide operators with support they need to get back on their feet and better position them to re-open as restrictions begin to ease.”
“Tourism is an economic driver in the province, and we recognize the significant contribution that this industry makes to the economy,” added Bernard Davis, the minister of tourism, culture, industry, and innovation. “The Tourism and Hospitality Support Program will help to fill a gap for operators that are being significantly impacted by reduced non-resident visitation which normally exceeds more than half a million visitors every year.”