In a bid to alleviate financial struggles among residents, the Guaranteed Income to Grow Ann Arbor (GIG A2) program is set to distribute monthly payments of $528 to a randomly selected group of 100 applicants for two years. Funded by $1.6 million from the federal American Rescue Plan, this Universal Basic Income (UBI) initiative aims to support entrepreneurs, small business owners, and self-employed individuals in Ann Arbor. While the selected recipients receive financial aid, another group of 100 individuals will participate in surveys tracking financial well-being, with both groups earning $50 for each completed survey.
Photo from: NewsBreak Original
Innovative UBI Program to Boost Economic Resilience
GIG A2, backed by federal funds, emerges as an innovative Universal Basic Income program designed to bolster the economic resilience of entrepreneurs, small business owners, and self-employed individuals in Ann Arbor.
With $528 monthly payments for two years, the initiative not only provides direct financial support but also includes a survey component involving a second group of participants, promoting ongoing financial assessment. This groundbreaking program showcases the potential of UBI to address economic challenges at the community level.
The GIG A2 program, powered by a $1.6 million grant from the federal American Rescue Plan, exemplifies a community-driven effort to address financial hardships. The initiative’s focus on aiding those at or below 225% of the federal poverty line highlights a targeted approach to support vulnerable demographics. By incorporating a survey-based assessment, GIG A2 aims to gather valuable insights into the economic well-being of its participants, contributing to a holistic understanding of the program’s impact.
READ ALSO: Exploring Your Home Energy Upgrade Choices: Five Strategies For Clarity
Eligibility Criteria and Future Opportunities
City councilmember Linh Song, a driving force behind the GIG A2 program, envisioned it as a strategic pilot to demonstrate the ongoing need for financial investments beyond short-term solutions. In line with federal initiatives such as eviction moratoriums and additional SNAP benefits, GIG A2 aims to showcase the importance of sustained financial support. The program not only provides immediate relief but also serves as a testament to the necessity of continuous investments in community well-being.
While applications for the initial round of payments have closed, the GIG A2 program holds promise for future opportunities. Michigan residents with incomes at or below 225% of the federal poverty line, including those in Ann Arbor homeless shelters, are eligible. The program’s inclusivity extends to individuals with side hustles, artists, musicians, freelancers, and independent contractors, creating avenues for diverse community members to benefit from financial support.
