Business & Tech
Where Did Rhode Island's $1.25 Billion Federal Stimulus Go?
The state spent all of its initial CARES Act funding. Here's a look at how it all broke down.
PROVIDENCE, RI — Just a few days before the end of the 2020 calendar year, all of Rhode Island's CARES Act stimulus, $1.25 billion in total, has been spoken for. Gov. Gina Raimondo outlined where exactly all that money went during this week's public news conference.
The money was divided amongst six categories: the state's health response to the coronavirus pandemic, supporting the state's economy and businesses, individual supports, education, cities and towns and the state government's response.
The largest chunk of the funding by far went to businesses and the economy, which made up for more than $488.7 million. These payments included Take It Outside grants, direct payments to businesses during the three-week pause, workforce development and more. A large chunk of these funds went to the state's hospitals at the beginning of the pandemic, when elective procedures were put on hold. Because of this, revenues plummeted, and the financial support was needed to keep hospitals operational during the public health crisis, Raimondo explained.
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Even though business support was the largest category of funding, Raimondo acknowledged that struggling small businesses need more.
"I'll be the first to say it's not enough," she said. "Survival is the name of the game ... 2021 is right around the corner."
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The public health response took up an additional $129.3 million. This included funding for testing, contact tracing, personal protective equipment, National Guard costs and more. Broken down further, here's where exactly that money went:
- Field hospital operation costs: $23 million
- Contact tracing programs: $6 million
- Personal protective equipment: $23 million
- COVID-19 testing efforts: $33 million
- Community mitigation efforts: $44 million
The remaining four categories are broken down below.
| Category | Description | Funding Amount |
| Individual supports | Cash assistance, food supports, housing and rental assistance | $90.7 million |
| Education | Assistance to K-12 schools and higher education | $116.8 million |
| Municipalities | Eligible personnel spending for pandemic response and related expenditures | $136.5 million |
| State government | Eligible personnel spending for pandemic response in 2020 and 202 fiscal years | $288.1 million |
Raimondo also applauded the Back To Work RI program, which was funded by $44 million of the business and economy money. Since the program was launched in July, thousands of Rhode Islanders have enrolled in the program, which offers job training for out-of-work residents with a guaranteed job at the end.
By the end of the year, the state is on track to have 5,000 graduates of the program, Raimondo said, congratulating those who "took the leap" during the turbulent times. There are still thousands of slots available to those interested in joining the program.
"We'll get to 5,000 by the end of the year ... but the business partners have already pledged 7,000 jobs so far," Raimondo said. "It's free and it's effective ... We promise you, if you graduate, you will get a job."
Along with free job training, the program offers participants other financial support they need to stay on track, such as child care, transportation or housing assistance. To learn more about the program or apply, visit the Back To Work RI website.
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