Business Update from the Town of Bedford
December 23, 2020
Happy Holidays from the Town of Bedford!
Photo courtesy of Robert Bass.
COVID-19 Updates
Temporary Capacity Limits Announced
Governor Baker announced that Massachusetts will implement temporary capacity limits to stop the spread of COVID-19 as cases and hospitalizations rise. Starting on December 26, 2020, businesses should adhere to the capacity limitations according to their specific sector (most industries must follow a 25% capacity limit). For more information, see Temporary Capacity and Gathering Limits Protocols.

Check back for updated information on business opening protocols at: www.mass.gov/reopening.
New Massachusetts Small Business Relief Grant Program
The Baker-Polito Administration launched a $668 million program to provide financial assistance to Massachusetts small businesses impacted by the COVID-19 pandemic.
 
Earlier this week, the Administration announced nearly $49 million in grants through the Massachusetts Growth Capital Corporation (MGCC) COVID-19 Small Business Program to support over 1,158 small businesses. Additional grants will be made available to eligible small businesses through MGCC. The Small Business Grant Program was established in the fall, and currently has a pool of eligible applicants awaiting funding. This additional funding will allow the Administration to award more of those pending applicants. Eligible businesses that already applied to the program, but were not funded due to limited funds available, will be prioritized for funding first and do not need to reapply.
 
The funds will also be used to stand up an additional grant program at MGCC. This new program will target the industries most hard-hit during the pandemic.
 
Eligible industries for the new program include:
 
  • Restaurants, bars, caterers
 
  • Indoor recreation and entertainment establishments
 
  • Gyms and fitness centers
 
  • Event-support professionals (photographers, videographers, etc.)
 
  • Personal services
 
  • Retail
 
The new business relief program would offer grants up to $75,000, but not more than three months’ operating expenses, to be used for employee wage and benefits costs, space-related costs, and debt service obligations.
 
The online application portal for the new program will open on Thursday, December 31, and will close on Friday, January 15. Awards are expected to be announced in early February. More details on how to apply and eligibility requirements are available at www.empoweringsmallbusiness.org.
Federal Financial Business Assistance

Deadline to apply for EIDL Extended
The SBA announced that the deadline to apply for an Economic Injury Disaster Loan was extended from 12/21 to 12/31. Read more here.

Federal Paycheck Protection Program
The Bedford Economic Development Office is closely tracking developments regarding Congress's Paycheck Protection Program. When a program is rolled out, we will be reaching out to small businesses about updates to the loan program in coordination with the SBA, Bedford Chamber of Commerce, and local financial institutions.
Weatherize Your Small Business
The Center for EcoTechnology (CET) is a Massachusetts non-profit that helps people, businesses and organizations to save energy, reduce waste, save money, and reduce their environmental impact. CET is working on a pilot program to weatherize small businesses across the state, funded by a grant from the Massachusetts Department of Energy Resources. CET is working with Eversource and Columbia Gas natural gas customers to identify and implement energy savings opportunities with a focus on weatherizing buildings.

Download this flyer for a quick overview of the program. Small businesses can contact Sheila Kelliher at sheila.kelliher@cetonline.org or 413-586-7350 ext. 263 with any questions and for further information on how to get started.
#BuyBedford #MyLocalMA
As winter arrives, it’s more important than ever to find ways to support local businesses. The Town of Bedford’s BuyBedford page highlights storefront businesses as well as which businesses are offering online and curbside pickup options. There are many ways that one can support local businesses, both large and small. Some ideas include:
  • Give a gift card from a local business to someone to show your appreciation
  • Purchase employee meals from local restaurants for takeout or delivery
  • Write a positive online review of your favorite local business
  • Tag #buybedford on social media when you support local businesses  
Life Sciences in Bedford
Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is now accepting applications for its Tax Incentive Program, which offers tax credits to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. 
For more information about the program and eligibility, visit MLSC's Tax Incentive Program page. 

M3 RE Webinar Series: Life Sciences & the Move to the Suburbs
Join Middlesex 3 on January 12th for the fifth webinar in the M3 Real Estate Series. The Town of Bedford will be featured in the discussion!
Contact Alyssa Sandoval, Economic Development Director, at asandoval@bedfordma.gov for questions and guidance.
Town of Bedford | www.bedfordma.gov