ADDISON - The State of New York will spend nearly $3 million to assist struggling businesses affected by the closing of the Lake Champlain Bridge. New York will make its money available to affected local businesses through grants and SBA-type loans.
The New York Department of Transportation told businesses near the closed bridge that if they have lost 20 percent or more of income, they may be eligible to receive loans and cash grants. All grants are funded by New York taxpayers. DOT also said it is talking with officials of the Small Business Administration to provide no-interest loans for struggling businesses.
Vermont Agency of Commerce official David Mace said Vermont has no plans in the offing to assist Addison County businesses beyond what it has already provided.
For obvious reasons, no New York taxpayer dollars will aid struggling businesses on the Vermont side of the closed bridge.