EDA: $1.1 Million in CARES Act Recovery Assistance Invested to Support Remote Workforce Training Efforts in Utah
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million CARES Act Recovery Assistance grant to Utah State University, Logan, Utah, to develop their Remote Online Initiative (ROI), which will provide training to position businesses for economic recovery and prepare workers for success in…
EDA: $1 Million in CARES Act Recovery Assistance Invested to Boost Tourism and Hospitality-Related Industries in Illinois
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million CARES Act Recovery Assistance grant to the Illinois Council of Convention & Visitor Bureaus, Bloomington, Illinois, to create marketing campaigns promoting tourism across the state. This EDA grant will be matched with $250,000 in…
ABA: Bank Economists See Robust Economic Recovery Leading to Full Employment Next Year
The U.S. economy is recovering rapidly and is expected to yield inflation-adjusted growth of 7.2% over the four quarters of this year before easing to a still-robust 3.1% in 2022, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. “Since the committee met in January, further federal stimulus and a tremendously…
FEMA: President Biden Approves Major Disaster Declaration for Louisiana
FEMA announced that federal disaster assistance has been made available to the state of Louisiana to supplement state and local recovery efforts in the areas affected by severe storms, tornadoes and flooding from May 17-21, 2021. The President’s action makes federal funding available to affected individuals in Ascension, Calcasieu, East Baton Rouge, Iberville and Lafayette…
Census Bureau: Household Pulse Survey Phase 3.1 Biweekly Data Released
The U.S. Census Bureau today released new data from phase 3.1 of the experimental Household Pulse Survey. Phase 3.1 includes substantial revisions to the questionnaire. Additional questions address the following new topics: disability, child health access, telehealth and child care. Also included are demographic questions to identify service members and military spouses, and questions to classify respondents employed…
SBA: 6th Annual Growth Accelerator Fund Competition Launched Including Debut of SBIR Catalyst Awards of Over $5 Million in Prizes
The U.S. Small Business Administration announced its 6th Annual Growth Accelerator Fund Competition (GAFC) with the addition of a new component aimed at spurring investment in underrepresented communities within the innovation economy at scale. The 2021 Growth Accelerator Fund Competition and Small Business Innovation Research (SBIR) Catalyst programs will recognize the nation’s most innovative organizations with inclusive…
Federal Reserve: Winding Down of the Portfolio of the Secondary Market Corporate Credit Facility Announced
The Federal Reserve Board on Wednesday announced plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility (SMCCF), a temporary emergency lending facility that closed on December 31st, 2020. The SMCCF proved vital in restoring market functioning last year, supporting the availability of credit for large employers, and bolstering employment through…
SBA: Statement on the Closure of the Paycheck Protection Program
PPP has provided nearly $800 billion to small businesses and nonprofits across the nation, fueling the economy by supporting over 8.5 million small businesses and nonprofits Today, U.S. Small Business Administrator Isabella Casillas Guzman issued the following statement on the closure of the Paycheck Protection Program (PPP) to new loan guaranty applications, which has provided over $798 billion…
FDIC: 2021 Summary of Deposits Survey Begins
The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices are required to submit the survey; institutions with only a main office are exempt. All survey responses are required by July 31,…
FEMA: 22 Additional Counties in Kentucky Approved for Individual Assistance
Twenty-two more counties in Kentucky have been designated for disaster assistance as part of the federal disaster declaration for the severe storms, flooding, landslides and mudslides that occurred Feb. 27 through March 14. The announcement brings the total number of counties designated for Individual Assistance to 31 with today’s addition of Anderson, Boyd, Clark, Fayette,…