April 25, 2020 Federal Update: COVID-19
President Trump Signs $484 billion Relief Package
President Donald Trump signed a $484 billion relief package Friday April 24 to provide further aid to employers, hospitals and health organizations conducting testing for COVID-19.
The bill is Congress’s latest effort to help the roughly 26 million people in the US who have filed for jobless aid in the last five weeks. The funding measure provides:
- An additional $321 billion for the depleted Paycheck Protection Program, of which $60 billion is set aside for underbanked businesses. That includes community-based lenders, smaller banks and credit unions to assist smaller businesses that don’t have established relationships with big banks and had a harder time accessing the funds in the first round of loans. About $10 billion of that would also be allocated for administration fees;
- $60 billion in additional funds for the SBA’s disaster loans and grants programs;
- $75 billion for hospitals and
- $25 billion for coronavirus testing. Of that testing money, $11 billion will go to states and some will also go to the federal government.
Members of Congress are apparently pushing for a fifth relief bill to include aid for state and local governments experiencing a dramatic loss of revenues and increased expenses due to COVID-19.
At OEDA, we are thankful for our members who are passionately committed to the success of their communities and advancing Ohio’s economy. Over the past year, we’ve appreciated having you as part of our community of economic development professionals and are grateful for the opportunity to be your partner again in 2023.read more
As your partner for success at every step of your career, OEDA strives to provide high-impact training opportunities for our members each year. The foundation of that training is our Basic Economic Development Course (Ohio BEDC). This year’s course will be held from May 1-4 in Dublin, Ohio, and Early Bird Registration is open from now until March 1.read more
(Wilmington, Ohio) The Clinton County Workforce Collaborative hosted its first meeting of the year on Thursday, January 19. With almost 40 individuals present, representing schools, businesses, service providers, and community organizations, members reviewed accomplishments from 2022, established a new meeting structure for 2023, and discussed how their current efforts can continue to meet the needs of the local community.read more