November Twenty Twenty Newsletter |
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Monroe County's Lead Economic Development Organization geared up with a growth strategy for the 21st Century … |
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2020 BDC Highlights
by President & CEO
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Last year was like no other due to the COVID-19 pandemic. We began the year as planned but just after our Annual Meeting in March, adjusted to the new way of working virtually with our Board of Directors, partners, businesses, manufacturing community, volunteers, and the community at large. To reflect, I wanted to highlight some of the notable events of the past year: |
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After 2 years of working with a variety of partners, we were finally able to announce that Ford Motor Company would be occupying a new 1 million square foot distribution facility at the old Nike Missile site.
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Administered 2 grant programs through the MEDC that provided over $1.4 million to 180 local small businesses.
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We went virtual hosting webinars on the Payroll Protection Program, Economic Injury Disaster Loan, Financial Management, Pivoting During COVID, Ways to Keep your Employees and Businesses safe during the COVID Pandemic. The webinars were viewed by over 750 individuals representing their respective businesses.
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Annual Investors’ Meeting was held at Phoenix Theater in the Mall of Monroe and featured Anthony Cafaro, Jr. of the Cafaro Company as our keynote speaker. Attendance at the 2020 Investors’ Meeting was the biggest we have experienced to date.
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The Image and Brand Pillar Team also launched the Gateway Beautification Program. The program is being piloted at Exits 15 and 18 along I-75 where crews from the Monroe County Jail Redshirt Program are landscaping the areas to increase the appearance of the communities. The Redshirt Program participants have the opportunity to earn a recognizable landscaping credential for their efforts.
We appreciate you and your business, and we thank you for all of your support over the years. May 2021 bring you blessings, health and prosperity.
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NOTE: Click on the Infographic for full-size pdf version.
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MI Small Business Survival Grant Application |
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The State of Michigan has allocated $55 million to implement the Michigan Small Business Survival Grant Program to support the needs of eligible Michigan businesses that have experienced a significant financial hardship due to the COVID-19 emergency “Gatherings and Face Mask Order.”
We have important information related to the eligibility requirements, local criteria, application questions, and a link to the application on our COVID-19 Resources page (click the button below). Be prepared and ready to apply when the application opens on Tuesday, January 19, at 9:00 am est.
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Payroll Protection Program Open for New & Existing Borrowers
If you are seeking economic aid via the Payroll Protection Program (PPP), the BDC encourages you to start communication with your lender or tax advisor now to understand the financial institution's processes!
The U.S. Small Business Administration (SBA) announced that the PPP is open for new borrowers and certain existing borrowers. This applies to both 1st and 2nd draw loans. Your financial institution or tax advisor may ensure you have the latest information as elements are still evolving. When funds become available, these specialists will have you prepared and ready to apply. Updates to funding include:
- Borrowers will be able to set their loan covered period to be any length between 8 and 24 weeks.
- Loans will cover additional expenses to include operations expenditures, property damage costs, supplier costs, and worker protection expenditures.
- Eligibility has been expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations.
- Greater flexibility for seasonal employees.
- Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount.
- Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
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View more details in Press Release dated January 8.
- As more information becomes available, we will post it accordingly.
As we learn more, we will post all updates in a timely manner on our COVID-19 Resources page. |
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Webinar Opportunities
After 2020, I don't think any one of us need to look up the definition of "Webinar." They have become the way we talk to distant family and friends, and the ultimate tool for learning and conducting business.
Here are some opportunities available from a few of our partners:
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Beginning January 20, 9:00 to 10:00 am - Tackling the Labor Shortage through Culture, Engagement & Leadership ... the Michigan Manufacturing Technology Center (The Center) is launching a series of FREE 1 hour webinars to provide companies with ideas & suggestions to get the most from their current employees. It is intended to be interactive and will explore:
- What it means to be an employer of choice and how to achieve it
- Leadership’s impact on retention
- Minimizing the headaches, and extra time associated with hiring the wrong person
- Creating employeeship
- How taking a proactive approach to your culture can dramatically improve productivity, attraction and turnover
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Beginning January 20, 11:00 to 12:00 Noon - SBDC Cares 2021 Webinar Series ... The SBDC and partnering vendors are ready to assist in getting your small business back on track by offering you free webinars through CARES Act funding.
Webinar topics will include:
- Learning Business Processes 101
- Setting Healthy Boundries to Reduce Stress
- Automating Your Business
- Leading During A Crisis
- Connecting Emotional Intelligence to Leadership
- Overcoming the Five Dysfunctions of Teams
- Learning the Financial Planning Basics
We hope you and your staff members are able to take advantage of these free offerings!
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Please mark your calendars to hold Wednesday, March 10 for our Annual Investors' Meeting! We do not have a time as yet but do know it will be held virtually.
Watch your email for more details shortly. Thanks!
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