New Updates Small Business Resources Business and Employer Resources Jobs Resources Managing the Impacts Regional Business Resources Reports on Worldwide Economic Impact

New Updates

February 25 Update
  • COVID-19 Resources for Small Businesses: Michael G. Foster School of Business at the University of Washington. More information here
January 25 Update
  • Where to get vaccinated for COVID-19 in Washington state. More information here.
January 1 Update
  • COVID-19 business impact survey. More information here.
July 31 Update
  • JP Morgan Chase has partnered with the Workforce Development Council of Seattle and King County to address immediate needs and building targeted recovery pathways for economic inclusion for immigrant and other workers of color impacted by COVID-19. JPMorgan Chase is investing $500,000. You can find more information here.
July 28 Updates
  • Is GDP the best indicator to measure economic recovery after the pandemic? This article provides a compelling argument to consider alternative measurements, including looking at equity, prosperity and health / well-being indicators. (World Economic Forum)
  • How can we help micro small businesses in underserved communities? Here are some recommendations on helping these businesses survive and thrive from the impacts of COVID-19. (Brookings Institute)
  • The deadline to apply for PPP is Aug. 8 - don't wait until then to start application process. (SBA)
July 23 Updates
July 21 Updates
  • The Brookings Institute’s Alan Berube, senior fellow in the Metropolitan Policy Program, introduces the new Metro Recovery Index that tracks the impact of COVID-19 on and progress on recovery for the economies of the 200 largest metro areas in the United States. Listen to the podcast here.
  • Senate Special Committee on Economic Recovery – Dr. Lisa Brown, Director of the WA State Department of Commerce and lead for the State’s economic recovery plan efforts gave an update on the development of the plan today. Dr. Brown speaks to equitable access to resources, small business assistance, more broadband and sustainable innovation to get communities safely back to work. See the video here.
July 16 Updates
  • The Port of Seattle continued to help COVID-19 recovery efforts in South King County with the approval today of a three year, $160,000 agreement with the Highline College Small Business Development Center (SBDC) to provide small, woman and minority business enterprises (WMBE) with training and assistance for those interested in doing business with the Port. Read more here.
July 15 Updates
  • Per Governor Inslee’s office, several business activity guidance documents have been updated to reflect changes in understanding of the spread of COVID-19. These updates include discontinued live entertainment and bar service in restaurants and bars, some construction workers from out-of-state may be subject to quarantine or testing, film production and agriculture are subject to amended rules related to face coverings, distancing and sanitation. Find more information here.
July 13 Updates
  • The Paycheck Protection Program resumed accepting applications July 6. The new deadline to apply for PPP loan is August 8. Learn more.
July 8 Updates
  • The UW awarded 18 faculty led projects related to COVID-19 economic recovery through the UW Population Health Initiative research grants. The grants are intended to fund research projects that specifically focuses on economic – related recovery. Read more here and here.
  • In case a reminder is needed. Make sure to check out the Washington State Department of Commerce’s site for open grants and loans still available. See all the opportunities here.
July 7 Updates
  • Nearly 16,000 WA state small businesses received more than $12M in PPP loans. Read more here.
  • The Atlantic Council has published a global strategy for shaping the post-COVID-19 world. The themes in the report include: the system, the problem, the opportunity, building back better, prosperity and opportunity for all and a team effort. You can read the strategy here.
June 30 Updates
  • Positive News. US Chamber Study Shows Commercial Construction Industry Poised for Recovery After COVID-19. The study brings a positive outlook on the construction sector and predicts that the sector is well positioned for recovery and positive change. Read the Quarter 2 study and report here and here.
  • The Port of Seattle commits an additional $3M to Community Benefit Programs to aid COVID-19 recovery. The $3 million commitment will go to short-term, recovery programs that strengthen Port-related industries, create jobs, and spur spending in the regional economy. The investments will be evenly split between workforce development programs aimed at Opportunity Youth (youth between 16-24 from underserved communities) and investments to rebuild economic opportunity through tourism. Read more here.
June 29 Updates
  • Pierce County has created a grant program to help companies offset expenses related to COVID-19 safety practices for reopening. See more information at www.piercecountywa.gov/adaptgrant or contact the Pierce County Economic Development Department at [email protected].
  • King County’s Small Business Assistance Grant program for unincorporated King County is now available. The grant was created to help small businesses that have ben hit hardest by the pandemic in all parts of unincorporated King County. Deadline to apply is July 10th. Learn more by going to www.kingcounty.gov/LocalBusinessHelp.
June 24 Updates
  • A bi-partisan bill was introduced to help restaurants survive the impacts of COVID-19. The RESTAURANTS Act of 2020 ( Real Economic Support that Acknowledges Unique Restaurant Assistance Needed to Survive ) proposes to establish a $120 billion relief fund for independent restaurants. Read more about the proposal here and here.
June 23 Updates
  • World Economic Forum releases a toolkit for leaders to improve diversity, equity and inclusion in the post-COVID-19 workplace. The toolkit encourages businesses to leverage diversity, equity and inclusion as core organizational strength. This along with novel technologies can be a way to addressing social justice. Read the findings and download the toolkit here.
June 22 Updates
June 17 Updates
  • The SBA and Treasury Department released a three-page “EZ” loan forgiveness form that certain borrowers from the Paycheck Protection Program would be able to use. The form allows for fewer calculations and less documentation than the full application. The business owners allowed to use the EZ application include those who are self-employed or have no employees and those who did not reduce salaries by more than 25 percent. Read more here.
June 16 Updates
June 15 Updates
  • New and revised guidance to the Paycheck Protection Program – as of Friday, June 12. See the newly released updates here.
  • Snohomish County Provides Second Round of Small Business Relief Grants. Last week, Snohomish County Executive Dave Somers announced the second round of the Small Business Relief, Recovery, and Resiliency Grant Program. This grant program is a key part of the relief and recovery action Snohomish County is taking to help businesses impacted by the pandemic. This grant program is part of the package of COVID-19 responses funded by CARES Act resources. Read more here.
June 12 Updates
  • There is over $130B still available in the Payment Protection Program. Recent legislation provides added flexibility and guidance on how to use the funds. The last date a PPP loan can be approved is 6/30/20, a small business or nonprofit can find a lender here. Please encourage your small businesses and nonprofits in your communities secure these funds while there is still time and plenty of money available.
June 9 Updates
  • PNNL is waiving their fee for the Exploratory License agreement. Designed to spur recovery in an economic downturn caused by the COVID-19 pandemic, PNNL has waived the $1,000 fee for the agreement. U.S. organizations now simply can sign a two-page agreement to “test drive” promising technologies through this user-friendly, commercialization option. Read more about the opportunity and Exploratory License program here.
June 8 Updates
  • The World Bank has launched an update on their Global Economic Perspectives study. Read more here and here about how COVID-19 and other global activities are shaping the global economy.

Small Business Resources

Small Business Administration (SBA) Loans guaranteed by the SBA range from small to large and can be used for most business purposes, including long-term fixed assets and operating capital. The SBA works with lenders to provide loans to small businesses. The agency doesn’t lend money directly to small business owners. Instead, it sets guidelines for loans made by its partnering lenders, community development organizations, and micro-lending institutions. $20 million in supplemental funding is available to fund administrative expenses for loans to U.S. small businesses via the emergency spending bill passed by Congress on March 4.

If there is a presidential disaster declaration, SBA may offer low-interest disaster loans. The International Economic Development Council offers a step-by-step preparedness plan for local governments to put in place an economic development plan in case of disaster. The Institute for Business and Home Safety created an easy and practical toolkit for disaster preparation.

If there is a presidential disaster declaration, HUD offers a Block Grant recovery program for declared emergencies, with a special focus in low-income areas. Congress may appropriate additional funding for the Community Development Block Grant (CDBG) Program as Disaster Recovery grants to the affected areas and provide crucial seed money to start the recovery process. Since CDBG Disaster Recovery (CDBG-DR) assistance may fund a broad range of recovery activities, HUD can help communities and neighborhoods that otherwise might not recover due to limited resources.

Business and Employer Resources

The following are resources to help your local economy, and that of the region, manage and recover from these impacts as quickly as possible. The guidelines are not county-specific and provide a lot of information, including checklists, templates, and plans. We encourage you to share them with businesses and business organizations in your area.

Jobs Resources

For those whose jobs have been impacted by COVID-19, GSP has created a resource page to help unemployed or underemployed individuals in greater Seattle find job opportunities in sectors providing essential services under the “Stay Home, Stay Healthy” order.

Managing the Impacts

The effects of COVID-19, the disease caused by the novel corona virus, are impacting the economic health of our communities. Many businesses are affected by the telecommuting, supply chain, travel and tourism, and restaurant/retail impacts.

Health officials are the best sources of information about how to prevent the spread of the virus.

According to the Washington State Department of Health, if an employee is confirmed to have COVID-19 infection, employers should inform fellow employees of their possible exposure to COVID-19 in the workplace but maintain confidentiality as required by the Americans with Disabilities Act (ADA).

Employees exposed to a co-worker with confirmed COVID-19 should refer to CDC guidance for how to conduct a risk assessment of their potential exposure. See OSHA Guidance on occupational exposures
to COVID-19 here.

Employers should not be reporting these incidents to the public health agency; reporting happens through the employee to their doctor. Employers should not be sharing private health information.

Regional Business Resources

Business resources provided in multiple languages.

Reports on Worldwide
Economic
Impact