JEDE COVID-19 Update for May 29, 2020

MAJOR COVID-19 ANNOUNCEMENTS

  • Listening Tour with Fitness Industry:  Governor Newsom continued his Economic Recovery & Reinvention Listening Tour on Wednesday with a digital roundtable with Californians who work in the fitness industry.  Participants shared how they are dealing with the COVID-19 crisis, how they are adapting their workplaces, and what opportunities they see to reinvent their businesses and our state's economy. 

  • Volunteers Sought for Home Internet Study:  The California Public Utilities Commission, in partnership with CSU Chico and CSU Monterey Bay are looking for volunteers to take part in the first statewide effort to collect quality internet speed measurements utilizing the new CalSPEED Home Measurement Device.  According to the website, “volunteers will be asked to attach a small device to their home Internet router for a two-week period, during which speed and quality tests will be performed. The study will not monitor volunteers’ Internet use in any way, and volunteers will have access to their own testing results.” 

  • CA Businesses Contribute to Emergency Efforts:  Visit California produces an online magazine of California-focused articles.  Earlier in the month, they published an article highlighting the wide range of activities California businesses and nonprofits are undertaking to meet local COVID-19 emergency needs. The article begins with Mr. Rogers' advice for hard times, "Look for the helpers," and then provides over 30 examples of both big and small businesses that have adopted what the article describes as a “good neighbor policy.”  The examples range from high-end garment manufacturers shifting to sewing PPE and nonprofits intensifying their efforts to provide diapers and baby wipes to low-income mothers, to food producers and theme parks donating food to fire departments, food banks, and health care workers.  The most recent article, Shop for Good: 14 Products That Make a Difference, also highlights California businesses making a difference in the time of COVID-19.

  • New Employee Credit for Manufacturers:  CMTA is partnering with the California Employment Training Panel on a COVID-19 hiring credit of up to $2,000 per employee.  According to the announcement, the employee has to receive four hours of training for the company to receive the credit and it is for select sectors and subsectors of manufacturing.  https://cmta.net/multimedia/flyer_covid_trainingmay28.pdf

  • Border Restrictions Extended:  The US Department of Homeland Security announced the continuance of the temporary restriction of all non-essential travel of individuals from Canada and Mexico into the US through land ports-of-entry.  The order has been extended an additional 30 days to June 22.  https://www.dhs.gov/publication/notification-temporary-travel-restrictions-applicable-land-ports-entry-and-ferries

  • HEROS Act:  The US House of Representatives passed the $3 trillion HR 6800 – HEROS Act on May 22, 2020, which approves additional direct aid to states, another round of Economic Impact Payments to individuals, and extension of unemployment insurance.

  • Changes to PPP:  HR 6886 - The Payment Protection Program Flexibility Act of 2020 passed the US House of Representatives on May 28, 2020, on a 417-to-1 vote.  The bill was introduced by Republican Rep. Chip Roy of Texas and Democratic Rep. Dean Phillips of Minnesota and has 65 co-sponsors.  Among other changes to the Paycheck Protection Program, the bill:  (1) Extends the term in which a business must expend loan proceeds in order to qualify for loan forgiveness from 8 weeks to 24 weeks; (2) Lowers the percentage of loan proceeds that must be used on payroll from 75% to 60% in order to qualify for the loan forgiveness; (3) Removes the restriction on loan terms beyond two years; and (4) Extends the rehiring deadline to offset the effect of enhanced Unemployment Insurance.  The Senate is developing similar legislation and the US Treasury is reported to be supportive of making some changes to the PPP.  https://www.congress.gov/bill/116th-congress/house-bill/6886/text?r=32&s=1

ECONOMIC RECOVERY

DATA, SURVEYS, AND ANALYSES

  • Arts and Entertainment:  Beacon Economics released a new report, COVID-19 and the Creative Economy: Bruised, Not Broken.  The report states, “the creative economy as a whole is experiencing particularly alarming revenue and job losses in the wake of shelter-in-place orders across the country, with employment contracting by 54% year-over-year in the nation’s Arts and Entertainment subsector alone. The Leisure and Hospitality sector, which is made up of the Arts and Entertainment and the Accommodation and Food subsectors, contracted by 47.2% from April 2019 to April 2020, the worst job loss of any industry and more than double the next worst-hit sector, Other Services (21.2% contraction).”

  • PPIC Report:  The California Public Policy Institute issued its analysis of the California economy based on the April unemployment numbers.  https://www.ppic.org/blog/californias-economy-takes-a-hit/?utm_source=ppic&utm_medium=email&utm_campaign=blog_subscriber

COVID-19 PROGRAM UPDATES

SBA Disaster Assistance  (5/27)

CA Loans Approved
73,711
Dollar Amount of CA Loans Approved
$7,198,803,781
CA Loan Advances Processed
450,449
Dollar Amount of CA Loan Advances Processed
$1,448,196,000
Payment Protection Plan
517,371
Payment Protection Plan Approved (total)
$66,516,390,881

Great Plates Delivered (5/27)

Letters of Intent Received from Local Administrators
59
Estimated Weekly Demand for Meals to be Served
1,026,553
Meals Served this Week as of 5/27*
452,838
Estimated Weekly Demand by Individuals to be Served
78,966
Individuals Served This Week as of 5/27*
23,992
Estimated Food Providers Required to Meet Demand
1,624
Food Providers Contracted as of 5/27*
291
*Data received from Great Plates Data Portal updated twice per week.
 
 
 
 
 
 
 
 
 

 

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