WNDD Economic Recovery Update – Jan 2021

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It’s time to Rebuild our Region

 

Greetings Fellow Nevadans,

Happy New Year!

We’re proud to share the January 2021 edition of the Western Nevada Development District’s Economic Recovery Update. This newsletter is part of WNDD’s effort to identify and develop strategies to create and build a more resilient economy in our region.

This edition of the Economic Recovery Update highlights the activities and progress of the Economic Recovery and Resiliency Council. The update also shares information and data that can help WNDD members and other regional businesses and organizations plan and implement their recovery and resiliency efforts.

In the update, you’ll find information about …

– Available grants and grants in the works
– Data and information regarding economic recovery
– Relevant news articles
– Member success stories
– And more!

Read the Update!

We look forward to sharing new information with you each month.

Regards,

Roy Edgington
WNDD President
Mayor, City of Fernley

P.S. We want to highlight your success stories or opportunities with other WNDD members. To get in touch with us about what you’re doing to rebuild a vibrant, resilient, sustainable economy, email:

Economic Recovery Coordinator- Don Vetter
DVetter@wndd.org

Update: COVID-19 Relief & Spending Package

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Congress has passed a $2.3 trillion omnibus spending bill…

The bill includes approximately $900 billion in economic stimulus for COVID-19 Relief and several relief provisions, authorizing matters and appropriations to provide aid to small businesses and communities during the pandemic.

From our partners at the International Economic Development Council (IEDC), here is a synopsis of what we’ve learned so far from the COVID Relief Package. We will continue to share updates as more developments take place.

Paycheck Protection Program (PPP) – Small Business Administration

• 501(c)6 organizations are eligible to participate, including economic development organizations that are registered as 501(c)6 organizations

• Program extended until March 31, 2021

• Tax issues resolved:

• Gross income does not include any forgivable amount of the PPP loan
• Deductions are allowed for deductible expenses paid for by any forgiven amount from PPP loan

PPP Forgiveness Simplified

• Loans less than $150,000 require simple certification in the form of a one-page letter from the borrower to the lender stipulating basic criteria and providing simple, high-level details

• Eligible uses formally expanded:
• Covered operations (software, tech, human resources, etc.), covered property damage (associated with ‘disturbances’ happening during 2020), covered supplier costs (supplies, inventory, etc.), covered health and safety expenses (PPE, testing, etc.) were further clarified as eligible uses of PPP loans and eligible for forgiveness
• Benefits such as life insurance, disability insurance, vision and dental were also clarified to be eligible covered expenses
• Borrower may select their covered period end date, between 8 and 24 weeks after origination

The latest round of PPP is $284.45 billion (program total authorization rises to $806.5 billion lifetime) and includes a number of carve-outs:
• $35 billion set aside for first-time borrowers
• $25 billion is set aside for smaller organizations with 10 employees or less or loans less than $250,000 in low-income areas.
For organizations with less than 300 employees:
• Must have used or will use the full amount of first PPP loan
• Must show at least a 25% reduction in revenue in the first, second, or third quarter of 2020 as compared to the same period in 2019; applications submitted on or after January 1, 2021, may use a fourth quarter 2020/2019 comparison
• 60/40 cost allocation between payroll and non-payroll costs to receive full forgiveness remains

Other Tidbits

Unemployment Insurance

• Pandemic Unemployment Assistance (PUA) is extended until March 14, 2021, and the maximum number of weeks of eligibility is extended from 39 weeks to 50 weeks
• Pandemic Emergency Unemployment Compensation (PUEC) is extended until March 14, 2021 and the number of weeks of eligibility is extended from 13 weeks to 24 weeks
• Federal Pandemic Unemployment Compensation is reinstated at $300 per week from the week after December 26, 2020 and runs through March 14, 2021

“Stimulus” Payments

• $600 to individuals earning $75,000 or less per year and plus an additional $600 for every dependent child; decreasing amounts for those earning $75,001 or more at a rate of -$5 for every $100 over the earning limit

Education

• $22.7 billion for Higher Education Emergency Relief Fund, including $1.7 billion for HBCU’s, tribal colleges and universities, and Hispanic serving institutions

Housing

• $25 billion for rental assistance
• Eviction moratorium extended to January 31, 2021

Transportation

• $2 billion for aid to airports, include airport retail
• $10 billion for highways for states to replace lost revenues that would support maintenance, operations, personnel, etc.
• $14 billion for mass transit operations

What isn’t in the bill?

• The $900 billion legislation is a drastically different bill than what has been proposed throughout the spring and summer
• Assistance for state and local governments was completely left out
• The bill is silent on the Economic Development Administration as it relates to COVID-19 — though for full-year appropriations the agency did see an increase from $333 million in funding to $346 million for fiscal 2021

We encourage you to connect with your members of Congress and their staff to acknowledge their hard work in getting this latest bill done, but reminding them that there remains much unmet need for communities, businesses and Economic Development Organizations which are working on recovery and community economic resilience.

WNDD Economic Recovery & Resiliency Council members welcomed by President -Fernley Mayor Roy Edgington and Vice President – City Council Woman Naomi Duerr

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Council to Identify Steps and Strategies for Immediate and Long-term Economic Recovery

The Western Nevada Development District’s (WNDD) Economic Recovery & Resiliency Council kicked off their important work on Dec. 9, 2020 with an orientation meeting featuring presentations from some of the state’s top economic analysts and advisors on what it will take to not only bounce back, but to bounce forward from the Covid-19 economic downturn.

The 14-member council will champion the steps and strategies for not just immediate economic recovery in Western Nevada Development District (WNDD) region, but also how the community can build economic resilience to weather the next pandemic, the next earthquake, the next flood, or the next great recession.

Roy Edgington, President of the WNDD Board of Directors and Mayor of the City of Fernley, welcomed the Council and stressed their unique position in this unique set of circumstances.

“Your skills, knowledge and devotion to our community will be instrumental in helping to shape a coordinated and actionable plan to rebuild and strengthen economic activity in the wake of the COVID-19 pandemic,” Edgington said.

The Council heard from three economist; Dr. Thomas Harris and Buddy Borden of the University of Nevada Center for Economic Development and Eugenia Larmore, CEO of E-KAY Consultants. Their information tracked the trajectory of the economic impacts thus far and factors that will contribute to recovery, or the continuation of the pandemic-induced recession. They stressed the northern Nevada’s diverse economic landscape has helped the community weather this storm better than other parts of the state and country.

Bob Potts, Deputy Director of the Governor’s Office of Economic Development presented the State Plan for Economic Recovery and how the Council will align with those strategies and be part of future actions and policies to try and have the economy come out of the pandemic stronger than when the pandemic took hold.

Marlene Rebori, from UNR Cooperative Extension, shared the tools at the Council members’ disposal to stimulate dialogue and glean the information and perspectives from each of the business, industry, government groups or economic sectors…the Council Teams.

WNDD is uniquely positioned in this task as an experienced, regional planning leader and portal to grant assistance that can support these recovery and resilience projects, Edgington said, who was joined by WNDD Vice President, Naomi Duerr of the Reno City Council in welcoming the Council members.

The Council members will be building their teams and begin taking input from their groups on issues and challenges experienced in the sector, or issues that became unveiled within the sector, because of the pandemic. A full virtual gathering of the Council team is scheduled for Jan. 13, 2021.

Council Recovery Teams and Council Representatives

Economic Development
Andrew Haskin, Deputy Director, Northern Nevada Development Authority

Government
Bob Hastings, Western Nevada Development District & Lyon County Commission (2012-2020)

Business
Ann Silver, CEO, Reno/Sparks Chamber of Commerce

Health & Wellness
Kitty McKay, Director of Mission Integration, Carson-Tahoe Hospital

Utilities/Infrastructure/Transportation
Lucia Maloney, Transportation Manager, Carson City

Education & Workforce
Dana Ryan, Special Assistant to the President, Truckee Meadows Community College

Financial
Jeremy Gilpin, President-Commercial Lending, Greater Nevada Credit Union

Tourism/Hospitality/Arts & Culture
Carol Chaplin, CEO, Lake Tahoe Visitor’s Authority

State & Federal Lands/Natural Resources
Don Vetter, Western Nevada Development District

Housing
Ron Bath, Founder, Salmon Point Development

Information Technology
Vas Karmyshanov, Managing Partner and Co-Founder, Balanced Agency

Manufacturing
Mark Anderson, Director, Nevada Industry Excellence

Mining
Joe Riney, Director of Workforce Engagement, Nevada Mining Association

Building & Trades
Aaron West, CEO, Nevada Builders Alliance

WNDD Economic Recovery Report – Nov 2020

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Building the Bridge to Resiliency and Recovery

 

Greetings Fellow Nevadans,

On behalf of the Western Nevada Development District (WNDD) Board of Directors, I am proud to announce the first edition of the WNDD’s Economic Recovery Report. This monthly newsletter is part of WNDD’s effort to identify and develop strategies to support economic recovery and build a more resilient economy in the WNDD region.

The monthly Economic Recovery Report will announce the activities and progress of the newly established WNDD Economic Recovery and Resiliency Council, a multi-disciplinary team of subject matter experts who will develop a coordinated effort and plan to resume economic activity to the fullest and safest extent possible. The process includes discussions surrounding policy considerations in the overall plan-making and all activities will interface with the Nevada State Plan: Road to Recovery.

The report will also share information and data that can help WNDD members and other regional businesses and organizations plan and implement their recovery and resiliency efforts.

In the report, you’ll find information about …

– Available grants and grants in the works
– Data and information regarding economic recovery
– Relevant news articles
– Member success stories
– And more!

Read the Complete Report

We look forward to sharing new information with you each month.

Regards,

Roy Edgington
WNDD President Mayor, City of Fernley

P.S. We want to highlight your success stories or opportunities with other WNDD members. To get in touch with us about what you’re doing to rebuild a vibrant, resilient, sustainable economy, email
Economic Recovery Coordinator- Don Vetter at: DVetter@wndd.org.

Rural Relief Small Business Grants

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There’s still time to participate the in the next round of the Rural Relief Small Business Grants program presented by the Local Initiatives Support Corporation and supported by Lowe’s.

Before you apply, please note:

Only small businesses located in rural communities are eligible at this time. Rural communities are defined as having a population of 50,000 or less. A community is defined as the city/town/village where your business address is located. If the business is mobile (a food truck, fishing boat, ride share driver, etc.), please use the address where your vehicle is stored during non-business hours.

All potential applicants are encouraged to review the FAQ and Grant Information before applying. This program is separate from previous small business grant applications from LISC.

You must submit a new application each round to be considered for a Rural Relief Small Business Grant.

Deadline for this round is: Monday, November 2, 2020.

Bob Hastings, Don Vetter Join WNDD as Economic Recovery Coordinators

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Bob Hastings and Don Vetter recently joined the Western Nevada Development District as Economic Recovery Coordinators.

According to an Oct. 5 press release, the positions were created as part of the federal CARES Act Recovery Program.

In their roles, Vetter and Hastings will help carry out community capacity building projects and programs while serving as a liaison and coordinator for the businesses, government, tribal, educational and nonprofit communities served by the Carson City-based development district.
Hastings, a Certified Quality Systems Auditor, has over 25 years in advanced manufacturing management experience. Most recently, he worked at Career Bound NV as a Work Based Learning Administrator, assisting in the development of a work-based learning program in conjunction with multiple school districts, businesses and other community stakeholders. He has also served eight years as an elected Lyon County commissioner.

Vetter has worked with numerous urban and rural communities in Nevada through his public relations, marketing and advertising firm, Vetter PR, Inc. Following his graduation from San Jose State University with a journalism degree, Don worked as a print and broadcast journalist for news media outlets in California, Nevada and Utah. He served as Washoe County Public Information Officer from 1990-93.