As we know, eateries were one of the businesses hardest hit by the pandemic. Many of them didn’t survive, despite federal aid. Some are still struggling tremendously. In New York, commitments are now underway to try to offer assistance in the hope that restaurants will be able to get through the pandemic.
New York State has just launched the New York State’s $35 million Restaurant Return-to-Work Tax Credit Program as part of the New York State FY 2022 Budget. This was put in place as a way to create more jobs and offer relief to the restaurants severely impacted by the pandemic.
Basically there will be a tax credit to encourage large scale and fast hiring of restaurant workers. For those restaurants that qualify for the aid, this translates into up to $5,000 tax credit for each new hire, up to $50,000 in tax credits for each business.
On this new initiative Governor Cuomo said:
“New York’s restaurants are not only the best in the world, they are vital to the state’s economy, employing thousands of people and showcasing cuisines that reflect our great diversity. Restaurants also serve as an entrepreneurial outlet and are often families’ gateways to the American Dream. The restaurant industry was among the hardest hit during the COVID-19 pandemic, as public health and safety concerns restricted many of its service operations. With the state’s COVID-19 restrictions lifted, restaurants opening to full capacity, and tables filling up, this will support the much-needed hiring of workers by these establishments to meet their increased demand.”
Brooklyn cocktail bar and restaurant co-owner Ivy Mix shared her experiences with CBS. She said
“The last few months have been very promising, after a year and a half of going into the red. Now it’s, ‘Oh god, is this going to be it?’ again. Last night was one of the worst nights we’ve had in months, and it was a beautiful night. “It’s worrying — if that’s forever, if that’s my next year.”
This was just after the CDC’s reports about the severity of the Delta variant and how it was raging through the nation.