Vega Baja Launches Incentive Program for Local Businesses
The Autonomous Municipality of Vega Baja, through the Secretariat of Economic Development and Federal Programs, Housing and Urban Development, has introduced an incentive program funded by the American Rescue Plan Act (ARPA) recovery funds. This initiative aims to support local businesses with net sales between $20,000 and $200,000 to enhance economic stability, preserve employment, and promote business recovery in Vega Baja.
Incentive Details
- Maximum incentive amount: $1,000 per eligible business
- Payments are subject to documentation verification and fund availability
- Governed by regulations including 2 CFR 200 – Uniform Guidance, U.S. Treasury Final Rule, and Municipal Incentives Regulation (ARPA)
Mayor's Statement
"This program is a firm commitment to the economic stability of our town. We are channeling these ARPA funds directly to our small and medium-sized businesses, which are the engine of our economy. Our goal is clear: to provide the necessary relief and support so they can strengthen their operations, retain jobs, and ensure the commercial revitalization of our town center and our communities."
Program Goals
The program focuses on helping small and medium-sized businesses recover and maintain their workforce while revitalizing the local commercial areas.
Summary: Vega Baja allocates ARPA funds to offer up to $1,000 incentives to local businesses, aiming to stabilize the economy and support job retention amid ongoing recovery efforts.