PHOENIX (3TV/CBS 5) — Phoenix is now in the top 5 in the US for small business wage growth. Wages rose 5.11% year-on-year to $29.70. Overall, our metropolitan region also made it into the top ten list.
The City of Phoenix is reminding small business owners that there is still plenty of money left over from the city’s COVID-19 relief grants. About $2 million is still available. PHXbizGrants launched last year to help micro and small businesses impacted by the COVID-19 pandemic.
Businesses can get anywhere from $3,000 to $15,000, and the terms of what you can use the money for are pretty broad. The grant money covers all business expenses listed by the IRS as “deductible expenses.” The grant became available in late November, and since then, the city has helped 800 businesses with approximately $5 million in awards.
Bob Daquilante owns Accram, one of the city’s first IT companies. He used the money to keep his employees on during the labor shortage by upgrading health insurance for all 22 of his employees. He now covers almost the entire insurance premium.
“I’ve been in business for 40 years. I don’t think of myself first. The customer first [then] Employees are directly with the customer. As CEO, I’m at the bottom,” said Daquilante.
Businesses must have been operating in Phoenix for at least one year. You must demonstrate a revenue loss of at least 25% due to the pandemic. City officials say applications will be accepted until April 15, or until the money runs out. For more information to see if you qualify, click here.
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