Manufacturing Council Hosts: Navigating lending, tax law changes and the future of PPP
June 4, 2020
The Manufacturing Council hosted a virtual meeting to discuss the future of COVID-19-related governmental financial assistance and lending opportunities for local businesses.
The federal government is supplementing the original Coronavirus Aid, Relief, and Economic Security (CARES) Act, and new United States Small Business Administration Paycheck Protection Plan (PPP) guidance is released on a continuous basis.
We heard from experts at The Bonadio Group about:
- Efficient ways to comply with federal guidance and tax law changes
- How to take advantage of new lending opportunities.
Watch the full webisode here:
Small businesses can now apply for a new tax credit to help offset COVID-19 costs. The $250 million COVID-19 Capital Costs Tax Credit Program will cover up to 50% of eligible expenses, for a maximum benefit of $25,000.
We are pleased to introduce Stephanie Wehrlin, BNP’s Assistant Event and Program Manager as our latest Staff Spotlight.
Stephanie has a specific focus on our Young Professional division, BN360. She creates an engaging platform for young professionals in the Buffalo Niagara region to connect, collaborate, learn, and be empowered.
Learn a little bit more about Stephanie in this brief Q&A.
The federal CHIPS and Science Act of 2022, known as CHIPS+, was signed into law by President Biden on August 9, 2022. This new legislation directs $52 billion toward renewing the heavily outsourced U.S. semiconductor manufacturing sector and reinvigorating U.S. chip research and development activities.
BUFFALO, N.Y. (The Buffalo News) —Dottie Gallagher, president of the Buffalo Niagara Partnership, said fears of random testing and possible quarantines in Ontario all worked to discourage significant aspects of the region’s integrated economy. She called the move “quite frankly, long overdue,” especially for those travelers discouraged to even try navigating requirements like ArriveCan.