April 25, 2020 Federal Update: COVID-19

Apr 25, 2020 | Advocacy

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.

Port Authority Celebrates Award-Winning SBDC Member

(Wilmington, Ohio) The Clinton County Port Authority is pleased to congratulate David Riggs, Director of the SBDC at Miami Regionals, for being named Ohio’s SBDC State Star in 2021.

America’s SBDC, the national association that represents the nationwide network of Small Business Development Centers (SBDCs), annually recognizes one outstanding SBDC employee from each of its 62 members. This outstanding employee exhibits exemplary performance, makes a significant contribution to their state or regional SBDC program, and shows a strong commitment to small business. Using a peer-based selection process, the Ohio SBDC network selected David Riggs for Ohio’s SBDC State Star.

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Tiffin Foundry and Machine to invest in new machinery and equipment

Tiffin Foundry and Machine has announced it will purchase new machinery and hire more staff with assistance from a $50,000 JobsOhio Inclusion Grant. Tiffin Foundry has eight employees in Tiffin, and has an additional operation in North Ridgeville, Ohio.

JobsOhio’s grant, secured with assistance from the Regional Growth Partnership, will support a planned $321,923 in machinery and equipment upgrades and three new jobs. In addition, Tiffin Foundry and Machine worked with Tiffin-Seneca Economic Partnership and OhioMeansJobs – Seneca County on other potential incentives to support the company’s growth.

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