On the Economic Scene

October 26, 2020
Online Version at FloridaBusiness.org

COVID-19 Business Resource Center: VolusiaBusinessResources.com

HAVE YOU SEEN THE LATEST VOLUSIA COUNTY ECONOMIC DEVELOPMENT QUARTERLY? – The Volusia County Economic Development Quarterly for the third quarter of 2020 is now available. This publication of Volusia County Government offers information and statistics for readers interested in the area’s business, economic development and real estate market. This edition focuses on countywide economic development team members and examines how they can assist businesses in a COVID-19 environment and beyond.

U.S. BUREAU OF LABOR STATISTICS SEPTEMBER REPORT – Total nonfarm payroll employment rose by 661,000 in September and the unemployment rate declined to 7.9%, according to the most recent U.S. Bureau of Labor Statistics report. These improvements in the labor market reflect the continued resumption of economic activity curtailed due to the COVID-19 pandemic and efforts to contain it. Notable job gains occurred in leisure and hospitality, retail trade, health care and social assistance, and in professional and business services. Employment in government declined over the month, mainly in state and local government education. The effects of the pandemic are still reflected in the numbers of unemployed persons. The number of unemployed persons who were jobless less than five weeks increased by 271,000 to 2.6 million. The number of persons jobless five to 14 weeks decreased by 402,000 to 2.7 million, and the number of persons jobless 15 to 26 weeks fell by 1.6 million to 4.9 million.

FREE SCORE WEBINAR: YEAR-END TAX PLANNING FOR YOUR BUSINESS – SCORE will present a live webinar called Year-End Tax Planning for Your Business at 1 p.m. Nov. 3. There is still time to take actions that can favorably impact your tax bill for 2020. These measures relate to your employees, customers, equipment and operations and reflect big changes made by the SECURE Act, the CARES Act, the Families First Coronavirus Response Act and other legislation, as well as IRS pronouncements.

WOMEN'S PROCUREMENT WEBINAR ON DOING BUSINESS WITH THE UNITED NATIONS – Join the U.S. Commercial Service, U.S. Mission to the United Nations and OWIT-NY for a free introduction to the UN’s nearly $19 billion global procurement market. The event is ideal for women-owned companies that need help getting started. It will cover the U.N. procurement process, how to register as a U.N. vendor and more. The webinar will be held from 1 to 2:30 p.m. Oct. 27.

MAINTAIN A HEALTHY WORK ENVIRONMENT – Since COVID-19 may be spread by people with no symptoms, the CDC advises businesses and employers to evaluate and institute controls according to the hierarchy of controls to protect their employees and members of the general public. Recommended considerations include improving the engineering controls using the building ventilation system; giving employees, customers and visitors what they need to clean their hands and cover their coughs and sneezes; and performing routine cleaning. Other healthy work environment actions include performing enhanced cleaning and disinfection after persons suspected/confirmed to have COVID-19 have been in the facility, minimizing risks to employees when planning meetings and gatherings, limiting travel, and advising employees to take additional precautions and preparations if they must travel.

SMALL BUSINESS REOPENING GRANTS STILL AVAILABLE – Qualifying businesses with a physical, brick-and-mortar location in a commercial or industrial space in Volusia County may be eligible to receive a one-time Reopening Grant Program grant of $3,000 if they have 25 or fewer employees, or $5,000 if they have 26 to 50 employees. The grant is made available to help small businesses recover from negative financial consequences resulting from the COVID-19 pandemic. Since the grant program’s inception, more than 2,800 grants have been awarded totaling $7.1 million. Funds are still available. Brick-and-mortar businesses should review the grant criteria and apply online. Please note this is a one-time grant. If you have previously received funds from this grant program, a second application will be denied.

HOME-BASED BUSINESS GRANTS STILL AVAILABLE – Qualifying home-based businesses located in Volusia County may be eligible to receive a one-time grant of $1,500 if they have up to 50 employees to help them recover from negative financial consequences resulting from the COVID-19 pandemic and relaunch their Volusia County business. Review the complete list of grant criteria details and apply online. Please note this is a one-time grant. If you have previously received funds from this grant program, a second application will be denied.