News Summary
In Columbia, a new legislative proposal has been introduced to provide financial relief to businesses severely impacted by long-term construction delays, especially along Hardscrabble Road. Sponsored by Representative Hamilton Grant, the bill allows eligible businesses to apply for loans through the South Carolina Department of Commerce, aiming to mitigate revenue losses due to ongoing construction projects. This initiative could offer crucial support to local enterprises struggling with operational costs amid decreased customer traffic and financial strain.
Columbia, South Carolina – A new legislative proposal aims to support businesses severely impacted by ongoing construction delays, particularly those along Hardscrabble Road in Richland County. Introduced by Representative Hamilton Grant, the bill seeks to provide financial relief to local enterprises that have experienced substantial revenue losses due to prolonged construction activities.
The proposed legislation is designed to assist businesses facing construction delays of at least three years. It enables such businesses to apply for loans through the South Carolina Department of Commerce. Eligible businesses must meet specific criteria, including being located on roads suffering from construction disruptions that have lasted for a minimum of three years, having opened prior to 2025, and demonstrating a revenue loss of at least 25% attributed to the construction project.
Businesses along Hardscrabble Road, currently undergoing a road widening project that began in 2017, have reported significant declines in customer traffic and revenue. Owners have expressed concerns over ongoing operational costs, including payroll, rent, and insurance, which they still need to manage despite decreased income levels.
Under the proposed bill, there are provisions for loan forgiveness after the first year, contingent upon businesses remaining tax compliant. To qualify for loan forgiveness, recipients must use a minimum of 60% of the loan amount for essential business expenses related to payroll and rent while retaining at least 75% of their workforce compared to before the construction began.
Representative Grant has highlighted that the road disruptions have broader implications, not only affecting Hardscrabble Road but possibly impacting multiple roads across the state in the future. He believes this legislation is a necessary step towards addressing the financial strain felt by local businesses enduring lengthy construction projects.
The specifics of the funding amounts and individual loan applications will be determined during the state’s budget process. Currently, the bill is under review within committee and may not progress to the legislative floor before the current session ends. However, it is expected to be revisited in January, reflecting ongoing concerns about the lengthy construction projects and their adverse effects on businesses.
Challenges from long-term construction projects are not uncommon. Business owners often face dwindling customer numbers during road work periods, which frequently lead to steep revenue declines. This situation has raised alarms within the business community and spurred efforts for legislative action.
The construction on Hardscrabble Road has led to traffic congestion and confusion, further deterring potential customers from visiting local businesses. As the work continues without resolution, the financial burden on business owners grows heavier, making access to relief funds increasingly critical.
As local residents, businesses, and lawmakers continue to discuss and evaluate the impact of ongoing construction, Representative Grant’s proposed bill aims to bring some relief to struggling business owners. With the bill still in committee, stakeholders remain hopeful that assistance will soon be available in the form of financial resources to help mitigate losses caused by these extensive construction projects.
In summary, the new bill introduced in South Carolina seeks to provide loans to businesses affected by long-term construction delays. With specific eligibility criteria and potential for loan forgiveness, this legislation represents a proactive approach to support and stabilize affected enterprises as they navigate challenging circumstances stemming from construction projects.
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