Nevada’s entertainment business is federally backed during a pandemic
Nevada’s live entertainment business was one of the hardest-hit industries during the pandemic, but some companies were backed by the first federal grants to venues and nonprofits. rice field.
The Small and Medium Business Administration released data on Tuesday that 158 venues in Nevada received an estimated $ 7.6 billion already awarded to US venues through the Shuttered Venue Operators Grant, for a total of $ 121 million (1.6%). Is shown.
The federal program aims to help live venue operators, museums, and other entertainment companies by awarding money to cover business costs such as salaries and rent.
“It’s for a place like the Smith Center that hires musicians and entertains the locals,” Smith Center CEO and President Myron Martin said in a news release.
The Performing Arts Center, like the Palms Hotel Casino and Life is Beautiful’s Brenden Theater, received $ 10 million in funding. The three businesses received the largest amount of money among state applicants and the largest amount available to recipients.
The applicants who have received the maximum amount from the Shuttered Venue Operators Grant in Nevada are:
■ Brenden Theater Corp., Las Vegas, $ 10 million
■ Life is Beautiful LLC, Las Vegas, $ 10 million
■ Smith Center for the Performing Arts, $ 10 Million
■ Steve Beyer Productions Inc., Henderson, $ 7,596,742
■ Galaxy Sparks LLC, Sparks, $ 6,878,544
■ Meleco LLC, Incline Village, $ 5,011,547
■ MBBC LLC, Las Vegas, $ 4,766,523
■ Buggs & Rudy Discount Corp., Las Vegas, $ 4,761,218
■ SPI Entertainment Inc., Henderson, $ 3,995,823
■ Galaxy Vegas LLC, North Las Vegas, $ 3,655,438
The Shuttered Venue program has been allocated more than $ 16.2 billion in grants, and the SBA said eligible companies can continue to apply for funding on the SBA website.
Eligible applicants are eligible for a single grant of up to $ 10 million, equivalent to 45% of their total income.
The program started accepting applications in April, but faced delays and processing time delays.
In a news release, SBA administrator Isabel Casillas Guzman said improvements were made and the program “funds high-impact SMEs and venue operators quickly, efficiently and fairly.”
According to the SBA, more than 100 grants were awarded as of July 26, starting with more than 100 grants on June 10. In addition, more than two-thirds of the awards were sent to venues with less than 10 employees.
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