GNO, INC Update – 4/12/2020

Regional Stakeholders,

During a crisis, timely, accurate, and actionable information is important.  In order to help you get this information, GNO, Inc. is sending out regular updates.  Please see below, and feel free to forward.

April 12, 2020 Update

News

• Economic Impact Payments (Stimulus Checks) – Yesterday evening the IRS announced that the first wave of stimulus checks had been deposited into American’s bank accounts. To learn more about these payments and how you may qualify, click here.
• Multinational Pact for Oil Cuts – Saudi Arabia, Russia and the U.S. agreed to lead a multinational coalition in major oil-production cutsafter a drop in demand due to the coronavirus crisis and a Saudi-Russian feud devastated oil prices.  As part of the agreement, 23 countries committed to withhold collectively 9.7 million barrels a day of oil – over 13% of production – from global markets. The deal seeks to withhold a record amount of crude from markets—over 13% of world production.  For Louisiana, a $1 per barrel change in the price of oil equals up to a $12M change in state revenues.

Information

• Paycheck Protection Program – The forgivable loan program is in its first full week of applications.
  • GNO, Inc.’s overview of the program is here.
  • You can find the latest guidance on the U.S. Department of Treasury website here.
  • Finally, there is a GNO, Inc. webinar, with questions and answers, here.

The SBA has also released a tool to help find a nearby lender eligible to issue a loan under the Paycheck Protection Program.

• Unemployment FAQs – The federal $600 supplement to unemployment benefits is scheduled to start this Monday.  GNO, Inc. compiled answers to some of the most  frequently asked questions about unemployment we have received from individuals and employers. For more information, you can always visit the Louisiana Workforce Commission website.

Resources

Are you looking for:

• Online Training? – A catalogue of opportunities for online training from the region’s higher education partners and private training providers can be found here.
• Work? – If you want a job in a sector that is surging right now, new openings are on WorkNOLA.com.
• Employees? – A database of local talent looking for new job opportunities, including quick employment history and skills summary, is on the WorkNOLA Workforce Directory.
• COVID-19 Customers/Purchasers? – If you have pivoted your business to make a new, coronavirus-related product, register onGNOpivot.
• COVID-19 Supplies/Services? – If you are looking for PPE, sanitizer, food providers, and other related products and services, search the GNOpivot Resource Tool.

As always, general information is on the GNO, Inc. Coronavirus Business Resource Page.

Please feel free to contact me [email protected] or VP Policy Ileana Ledet at [email protected] with any questions or suggestions.

Take care,

Michael

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