JOHNSTON, Iowa — As more businesses continue to reopen in Iowa amid the pandemic, Gov. Kim Reynolds shared how the financial help Iowa is receiving, through the Coronavirus Relief Fund, is helping in the virus fight.
"Iowa received $1.25 billion in funding that can be used to cover expenses that were necessarily incurred due to COVID-19 that were not accounted for in our budget as of March 27," Reynolds said.
Reynolds said prior to the pandemic, the state had a good financial picture.
"Prior to COVID-19 impacting our state, when we closed the books in fiscal year [2019], we had a budget surplus of nearly $300 million," she said. "Our cash reserves were full, and our labor participation rate was one of the highest in the country."
Reynolds said her administration continues to monitor the status of Iowa's Unemployment Trust Fund.
The governor highlighted how the farm economy plays a crucial role.
"When Iowa's agriculture industry is impacted, our state's economy is impacted," Reynolds said. She said she's allocated $125 million in relief that will go to Iowa communities.
The governor said out of the money they're getting from the Coronavirus Relief Fund, $215 million will go towards the Small Business Relief Program. She said it's helped more than 4,000 Iowans.
