April 17, 2020 Update from Michael Hecht at GNO Inc.
News
- Coronavirus Federal Aid Status – Negotiations are extending through the weekend, as members of Congress discuss the next round of coronavirus aid. The Paycheck Protection Program, which has exhausted its initial $350 billion in funding, is a central part of the discussion, as is more funding for the SBA’s Economic Injury Disaster Loan Program (EIDL). The latest report from the SBA shows Louisiana had more than 26,000 loans approved totaling over $5.1 billion.
- LA Legislature Announces Advisory Task Force on Economic Recovery – Today, Senate President Page Cortez and House Speaker Clay Schexnayder announced the formation of a task force to advise lawmakers on reopening Louisiana's economy after the COVID-19 crisis. GNO, Inc. CEO Michael Hecht will be on the Task Force, as well as former Chairs Maura Donahue and Tommy Faucheux. The first Task Force meeting will be convened virtually before the end of April with public online viewing capability. The Task Force will meet virtually and in-person throughout May and June as public health conditions allow. The Legislature will receive a report with formal recommendations from the Task Force by July 1. To read the Legislature's official announcement and see the full list of task force members, click here.
- Preliminary “Getting Back to Work” Framework – Today, the Baton Rouge Area Chamber, in partnership with LABI, and supported by nearly 40 other business groups from across Louisiana – including GNO, Inc. – released a draft framework for restarting the state's economy in a responsible and safe manner. The considerations were developed in partnership with executives from the health care, manufacturing, automotive, banking, small business, and engineering industries, among others, and with peer business organizations and associations from around the state. To read the framework, click here.
- CARES Act— FSA/HRA/HSA uses expanded - You can now use your Health Flexible Spending Accounts (HFSAs), Health Savings Accounts (HSAs) and Health Reimbursement Arrangements (HRAs) to purchase over-the-counter (OTC) drugs and medicines. The CARE) Act, signed into law on March 27, made these expenses eligible. Not only can you purchase these items now, you can submit expenses retroactively to January 1, 2020, and you can request a reimbursement online. Learn more here.
- Testing Sites – Today, Walgreens announced that their Harvey location will serve as a coronavirus testing site. Testing is available by appointment only, and only to individuals who meet eligibility criteria established by the CDC.
Information
- “Loan Gumbo”: Determining Which Loan is Best for You – GNO, Inc. has released the following information to help businesses determine which loan product and other assistance is best for their needs:
- Coronavirus Loan Comparison Chart - click here
- Loan Gumbo Webinar Video - click here
- FAQs on the Paycheck Protection Program and other loans - click here
Resources
Are you looking for:
- Online Training? – A catalogue of opportunities for online training from the region’s higher education partners and private training providers can be found here.
- Work? – If you want a job in a sector that is surging right now, new openings are on WorkNOLA.com.
- Employees? – A database of local talent looking for new job opportunities, including quick employment history and skills summary, is on the WorkNOLA Workforce Directory.
- COVID-19 Customers/Purchasers? – If you have pivoted your business to make a new, coronavirus-related product, register on GNOpivot.
- COVID-19 Supplies/Services? – If you are looking for PPE, sanitizer, food providers, and other related products and services, search the GNOpivot Resource Tool.
As always, general information is on the GNO, Inc. Coronavirus Business Resource Page.
Please feel free to contact me mhecht@gnoinc.org or VP Policy Ileana Ledet at iledet@gnoinc.org with any questions or suggestions.
Take care,
Michael
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Michael Hecht
President & CEO
Greater New Orleans, Inc.
1100 Poydras Street, Ste. 3475
New Orleans, LA 70130
mhecht@gnoinc.org
www.gnoinc.org
@MHechtGNO
504.527.6907