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Economic Scene Newsletter - November 29, 2021

UPCOMING EVENTS & EXPOS

DELTONA STATE OF THE CITY

Learn about the future of the City of Deltona regarding development, business activity, ecological tourism and more at the State of the City event hosted by the West Volusia Chamber of Commerce. The breakfast event will bring together business leaders, community leaders, and elected officials. Mayor Heidi Herzberg will present the City’s perspective on this year’s successes, challenges, opportunities and future outlook. State of the City will be held at 8:30 a.m. on Nov. 30 at The Center at Deltona at 1640 Dr. Martin Luther King Blvd. Those interested in attending may register online or call 386-218-0540 for more information.

BETTER LIFE BUSINESS EXPO COMING JANUARY 2022

The Better Life Business Expo is a business trade show and networking event being presented by the City of Daytona Beach Shores and the Port Orange South Daytona Chamber of Commerce. Businesses located in Daytona Beach Shores are invited to sign up for a table to meet and network with the public and other businesses. Local businesses, restaurants, products and services may reserve booth space to participate by registering for this event. Participating vendors are encouraged to provide demonstrations, samples and handouts. The public is invited to come browse this FREE event to be held from 10 a.m. to 2 p.m. Jan. 8, 2022 at the Shores Community Center, 3000 Bellemead Drive, Daytona Beach Shores. For more information, visit https://www.pschamber.com/events/details/daytona-beach-shores-better-life-business-expo-6111 or call 386-281-3000.

COVID-19 FUNDING UPDATES

UPDATED GUIDANCE FOR COVID ECONOMIC INJURY DISASTER (EIDL) LOAN PROGRAMS

The U.S. Small Business Administration (SBA) recently announced updated guidance for COVID Economic Injury Disaster Loan (EIDL) program applicants to better serve small business owners in need while funding remains available:

  • EIDL and Targeted Advance applications will be accepted until Dec. 31 and will continue to be processed after this date until funds are exhausted.
  • Supplemental Targeted Advance applications will be accepted until Dec. 31, however, the SBA may be unable to process some applications submitted near the Dec. 31 deadline due to legal requirements. The SBA cannot continue to process Supplemental Targeted Advance applications after Dec. 31 and strongly encourages eligible small businesses to apply by Dec. 10 to ensure adequate processing time.
  • Borrowers can request increases up to their maximum eligible loan amount for up to two years after their loan origination date, or until the funds are exhausted, whichever is soonest.
  • The SBA will accept and review reconsideration and appeal requests for COVID EIDL applications received on or before Dec. 31 if the reconsideration/appeal is received within the timeframes in the regulation. This means six months from the date of decline for reconsiderations and 30 days from the date of reconsideration decline for appeals – unless funding is no longer available.

The COVID EIDL and EIDL Advance programs still have billions of dollars available to help small businesses hard hit by the pandemic. Learn more about the programs and to apply.

JOIN A WEBINAR TO LEARN MORE:

English version at 4:30 p.m. on Dec 9 or 21:   https://www.eventbrite.com/e/198004997277

Spanish version at 4:00 p.m. on Dec. 7 or 14:  https://www.eventbrite.com/e/216438261667

WEBINARS, WORKSHOPS & FORUMS

REMINDER: SIGN UP FOR THE FREE BUSINESS PLAN DEVELOPMENT WORKSHOP

Are you looking to apply for a small business loan, and the bank requires a business plan? Join the Volusia County Business Incubator Powered by UCF for a hands-on business plan development workshop. During the two-day workshop, you will learn how to write a business plan, develop a five-year financial projection and understand what the banks are looking for in a loan application. The in-person event will be held from 9 a.m. to noon on two consecutive Thursdays, Dec. 2 and Dec. 9. The workshop is free and open to the public. Registration is required.

WORKFORCE UPDATES

SIX STRATEGIES TO BOOST EMPLOYEE RETENTION

Since the beginning of the pandemic, employee turnover has reached business-crippling levels in many industries.  Compounding the turnover-driven disruption is the extended time it now takes to find and hire new staff. What is the solution? Get serious about an employee retention strategy, now. In a recent article published in the Harvard Business Review, four co-authors from Boston Consulting Group cite six measures that should be considered as part of a retention strategy. Jump start development of your retention strategy with these six strategies.  

BUSINESS NEWS

TSA PRECHECK ENROLLMENT EVENT AT DAB

Travelers now have an opportunity to sign up for TSA PreCheck at an upcoming enrollment event at Daytona Beach International Airport (DAB). The event will take place from 9 a.m. to noon and 1 to 5 p.m. from Dec. 6 through 10 in the baggage claim area. TSA PreCheck allows participating travelers to experience a more efficient airport screening process by leaving on shoes, light jackets and belts, and leaving laptops and compliant liquids in carry-on bags. For more information, contact Katherine Wisniewski, terminal coordinator at 386-248-8030, ext. 18318. To learn more about TSA PreCheck, visit tsa.gov/precheck.

HURRICANE PREPAREDNESS FOR BUSINESS

Protect and prepare your business with a Business Disaster Continuity Plan

  • Review property insurance to determine if you have adequate hazard, flood, wind and business interruption insurance
  • Video and photo document your property, vehicles and inventory before and after the disaster to assist with verifying insurance and tax credit claims
  • Determine what emergency equipment and supplies are needed to protect and repair your business
  • Protect computers and backup your files. Store backup files in an alternate location
  • Assemble insurance policies, financial records, inventories, and other important documents. Make duplicates and store in alternate safe places
  • Move files and equipment to higher elevations
  • Shutter windows, sandbag doors, and cover sensitive equipment
  • Have a generator ready as a backup until power is restored
  • Encourage your employees to create a family emergency plan - the sooner they take care of their personal preparations, the quicker they can help prepare your business
  • Create a Crisis Communication plan to communicate with customers, suppliers and employees
  • Develop an employee alert roster to notify employees during nonworking hours the status of business operations
  • Protect employees and only schedule essential personnel during the storm
  • Arrange alternate payroll methods for your employees with your banking institution after the disaster
  • Retain a list of emergency support phone numbers for various needs and distribute to your employees
  • Know the community’s evacuation plan and evacuation routes
  • Update your plan quarterly and be sure all existing employees and new hires understand the plan

BOOKMARK, DOWNLOAD, REGISTER, FOLLOW, CONTACT

BOOKMARK

DOWNLOAD

REGISTER

  • CodeRED – register to be notified by your local emergency response team in the event of emergency situations or critical community alerts.

FOLLOW

CONTACT

  • Citizens Information Center (activated only during disasters) – Retain this phone number, 1-866-345-0345, for shelter information, sand bag locations, and other disaster updates; Telecommunication Device for the Deaf 386-248-1792

County, Sparton team up to help the economy and the environment

Operating out of its vast manufacturing facility in DeLeon Springs, Sparton has been a good neighbor, a good corporate citizen and one of Volusia County’s largest private-industry employers for more than 50 years. For Sparton and the local community, being socially responsible takes on added significance given the company’s close proximity to a delicate watershed that includes the natural spring at DeLeon Springs State Park about a mile away. And that’s why Sparton’s recent overhaul of its onsite wastewater disposal system to a more environmentally-friendly treatment plant was cause for celebration. And it all happened with the help of a grant from the county – an investment in Sparton, the local economy and the protection of precious water resources.

INFORMATION AND GUIDANCE FOR BUSINESSES AND EMPLOYERS

VOLUSIA BUSINESS RESOURCES  – The COVID-19 pandemic has caused major NEW disruptions to the business community. But at the same time, this global health crisis has resulted in countywide collaboration among economic development and emergency response teams to harness countless economic resources and present it all in one virtual location. Volusia County’s Economic Development division is leading the effort, serving as the coordinator between cities and agencies, as the clearinghouse of information, and by creating a new website -- VolusiaBusinessResources.com -- to serve as a countywide source of assistance and incentive program information for businesses. The website includes all federal, state, regional, county and private-sector resources, webinars and provides direct links to Volusia County’s cities’ resources pages. Read the complete release here.

VOLUSIA COUNTY COVID-19 UPDATES – Stay up to date with COVID-19 related news and emergency information via Volusia County’s public information network.

VOLUSIA COUNTY BUSINESS ASSISTANCE

For business assistance from the Volusia County Division of Economic Development, call 386-248-8048 or e-mail vced@volusia.org.

What We Do

The Volusia County Division of Economic Development assists business owners and works collaboratively with local stakeholders. We provide assistance at no cost to businesses with the desire and potential for growth within Volusia County.

The Division can help start-ups, second-stage, or maturing businesses directly or refer owners to other qualified organizations. Our economic development ‘ecosystem’ is focused on creating higher value, higher wage jobs.

While other community partners focus on recruiting new businesses to our county, the Economic Development Division assists existing Volusia County firms and entrepreneurs who are positioning themselves for new growth.  Incrementally growing the 14,000 plus established businesses already in our county offers the potential for significant economic growth and long term economic health.

In 2019, Gross Domestic Product (GDP) of Volusia County, was $17 billion. Our rapidly growing economy, now in the top 40% of all MSA's nationally, is driven by thousands of local enterprises that produce a variety of goods and services, creating jobs and stimulating even greater investment. Area companies not only support local commerce but also transact business throughout the world generating up to $295 million in exports, annually.