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Yes.
Wisconsin is the U.S. state that has invested the most federal pandemic aid money in economic development and business assistance. As of August 2022, the state invested 56% of its funds (totaling over $1 billion) in economic development and 32% in grants to businesses, according to an analysis by the Center on Budget and Policy Priorities.
Guam, a U.S. territory that also received pandemic aid, directed an even higher proportion to its economy: 57% in economic development and 52% in business assistance.
The federal government created the Fiscal Recovery Funds under the American Rescue Plan to aid states’ COVID-19 recovery. States have until 2024 to decide how they will use the funds, with the program allowing them a high degree of discretion. Other spending categories include infrastructure, health, welfare, education, public safety and the environment.
Sources
Center on Budget and Policy Priorities: How states can best use federal Fiscal Recovery Funds: Lessons from state choices so far
State of Wisconsin: Main Street Bounceback Grants press release
US Treasury: Coronavirus State and Local Fiscal Recovery Funds
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