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Northam proposes $353M for small biz, tourism relief
$4.3B in stimulus funds to be allocated during August special session
Ahead of the General Assembly’s August special session, Gov. Ralph Northam said Monday he wants to spend $353 million of Virginia’s federal relief funding on small business recovery and assisting the tourism industry. Virginia received $4.3 billion in federal funds through the $1.9 trillion American Rescue Plan passed in March. The Democratic-controlled General Assembly will
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State program would incentivize new workers with up to $1,000
To ease labor shortage, state will match up to $500 in payments to workers at eligible small businesses
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To combat Virginia’s tight labor market, the state plans to invest $3 million in a program to provide new employees of qualifying small businesses with up to $1,000 to support their transition back into the workforce, Gov. Ralph Northam announced Friday. The Virginia Return to Earn grant program will match up to $500 from eligible
Virginia restaurants face new challenges at brink of full reopening
Widespread worker shortage affects industry
Published
RICHMOND, Va. — Virginia restaurants will soon be able to host more patrons, but establishments may not be able to accommodate more guests due to a shortage in workers. Restaurants and drinking establishments will be able to seat up to 100 patrons indoors and a maximum of 250 guests outdoors starting May 15, Gov. Ralph
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Raising the bar
Businesses worry as state increases minimum wage
Published
On May 1, Virginia’s minimum hourly wage will rise to $9.50 for most non-farm jobs, and for many business owners, that won’t be too disruptive. But the state’s upcoming Jan. 1, 2022, mandated raise to $11 “is of greater concern” to businesses, says Eric Terry, president of the Virginia Restaurant, Lodging and Travel Association. VRLTA
State litter tax rate, penalty increase go into effect May 1
Change is result of 2020 General Assembly session
Published
Rate increases and a large additional penalty for late payments for the state’s litter tax will go into effect for Virginian business owners on May 1. The changes, a result of legislation from the 2020 General Assembly session, are as follows: – The litter tax payment will increase up to $20 per business establishment. –
PPP loans deadline extended to May 31
Move takes pressure off banks, businesses and backlogged SBA
Published
Businesses and banks received a two-month extension to apply for Paycheck Protection Program loans this week, as President Joe Biden signed legislation delaying the deadline for the latest round of PPP loans from March 31 to May 31. This week’s extension takes some of the pressure off bankers and businesses, says Steve Yeakel, president and
Northam seeks to include part-time workers in state IRA fund
Other bills expanding rail service, broadband and alcohol service signed into law
Published
Virginia Gov. Ralph Northam has proposed a change to a bill to allow part-time employees to participate in a newly created state-administered retirement fund for workers without 401(k) access, the governor’s office announced Friday. Northam also has signed legislation expanding an existing broadband pilot program to increase internet access in underserved areas of the state,
Newport News, Hampton launch Peninsula Cares Act Fund
$1.5M revolving loan program open to local businesses
Published
The cities of Hampton and Newport News opened a new low-interest loan program for COVID-affected businesses on Thursday. Known as the Peninsula Cares Act Fund, it will lend a total of $1.5 million in amounts ranging from $7,500 to $375,000. Eligible businesses can use the funds for purchase and installation of machinery and equipment, building
Pitch Preview lets Central Va. startup founders practice pitches
New program starts in April
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The Virginia Small Business Development Center, along with the Charlottesville Angel Network (CAN), is offering a new program geared toward Central Virginia startup founders who need practice pitching potential investors. Pitch Preview’s first event is scheduled April 29 from 1-3 p.m. via Zoom. Participants commit to 30-minute time slots with a 15-minute pitch, and for
‘Love Local’ launches to help National Landing businesses
$1,000 grants will aid restaurants, small businesses in Arlington community
Published
National Landing Business Improvement District and the Restaurant Association Metropolitan Washington have launched a $100,000 joint relief initiative, Love Local, which will assist struggling restaurants and small businesses in Arlington’s National Landing neighborhood with minimum $1,000 grants. “Restaurants and small businesses are the backbone of our community in National Landing – and without a doubt