We continue to assemble resources and information for the business community regarding COVID-19. Please visit
www.gpcovid.com
for a complete list of business resources and send any questions to
bizinfo@greaterpeoriaedc.org
.
NEW: Please see a new section at the end of this email for active requests for resources to help during this crisis. This section will be repeated until needs are met. Please send needs to
bizinfo@greaterpeoriaedc.org
.
Downstate Business Stabilization Program
Yesterday, the State released details of three programs that are aimed at helping small businesses (generally those with less than 500 employees). Today (a day early) details of the Downstate Stabilization Program were released and can be found
here
. According to DCEO: “The program component makes funds available for 60 days of verifiable working capital up to a grant ceiling of $25,000 and is available for businesses that employ 50 people or less. Number of employees includes the business owner(s). These funds may be used to assist private for-profit small retail and service businesses, or businesses considered non-essential by the Governor’s Executive Order without the ability for employees to work remotely.” Of note: counties, cities or villages must apply on behalf of businesses interested in this program. We will have more details once we digest this newly posted information.
Summary of Senate Relief Package
Yesterday the US Senate passed a $2 trillion relief package aimed at helping individuals, businesses, hospitals and communities impacted by coronavirus. The bill will be taken up by the House in the next few days and is expected to be immediately signed by the President. The International Economic Development Council has an excellent summary of the basic elements of the relief bill
here
. Greater Peoria EDC will be monitoring this bill and cataloging information about programs and funds available.
Mandatory Employer Posting
The US Department of Labor mandates that employers post “in a conspicuous place” information regarding the elements of the Families First Coronavirus Response Act. The mandatory poster can be found
here. USDOL as has published a Q&A about the poster
here. Of note regarding companies who have a considerable number of teleworkers at the moment, USDOL advises that the requirement may be satisfied by emailing, direct mailing, and/or posting on external or internal websites.
USDA Assistance to Rural Communities and Businesses
USDA Rural Development has taken a number of immediate actions to help rural residents, businesses and communities affected by the COVID-19 outbreak. Rural Development will keep our customers, partners, and stakeholders continuously updated as more actions are taken to better serve rural America. Read more
here.
IRS Tax Guidance on Tax Credits for Coronavirus Paid Leave
Information from the
Wyman Group
regarding recent IRS guidance on tax credits associated with the Families First Act
here
.
Recommended Guidance for Large Businesses
The Illinois Department of Public Health has published guidance for avoiding the spread of COVID-19 in large businesses
here
.
Reminder: I-74 Bridge Closure
In the midst of all the discussion about COVID-19, don’t forget that the Murray Baker bridge closes on Sunday, March 29 and will remain closed through October. (Since no one has anywhere to go right now, this is a great time to start this project and let us ease into new traffic patterns.) More
here.
RESOURCE REQUESTS
OSF Healthcare: OSF seeking personal protective equipment (PPE), ventilators and other supplies. Information
here.
Peoria Innovation Alliance: PIA is gathering the maker community to discuss ways individuals and small companies can make supplies like masks. Information
here.
Chris Setti
Chief Executive Officer
Greater Peoria Economic Development Council