What a difference a year makes! In April 2019, official unemployment rates for the nine Coachella Valley cities were at historic lows. Confidence in the economy was high and an ever more prosperous future seemed probable. Ignorance is bliss. How could we ever have imagined that unemployment rates would nearly triple, in just one year? [...]
In the summer of 1973, I was hired as a teenager into my first real job with a paycheck. That job at Jimmy’s Drive Inn in Sturgis, Kentucky paid a whopping 75 cents per hour plus all I wanted to eat. I learned many valuable life lessons there: showing up on time; being groomed appropriately [...]
Before COVID-19 wreaked havoc on the nation’s economy, the official unemployment rate was 3.5%. As of Friday, March 5, the official rate now stands at 6.2%. Since last April, the nation has lost 9.5 million jobs, more jobs lost than during the Great Recession. But the official unemployment rate only represents the number of people [...]
Economically, the Coachella Valley has been reeling since the cancellation of several of the region’s biggest events in the spring of 2020. At the time, the fear was that the region’s small businesses would experience greatly reduced sales during the busy spring event season, thereby rolling into the slower summer months with less cushion to [...]
As economic developers, of course we want to see Coachella Valley businesses open. But in order for our economy to really function, we've got to prioritize the protection of public health. That's because businesses need customers, and customers need to 1) feel safe and 2) be healthy enough to participate in economic activity. Just this [...]
An overwhelming number of the businesses we’ve talked to are eager to re-open. Despite some of the negative labels being hurled about, these people aren’t all denying science, nor are they all putting profit over health. These are entrepreneurs, independent contractors, and small business owners who have spent lifetimes building their businesses, brands, or skills. [...]
CVEP is one of the founding partners of the Coachella Valley Economic Recovery Team (CVERT). But before our Valley can recover, CVERT members are assisting businesses with the more immediate task of staying afloat. Each founding partner seeks to help in unique ways. One of the actions CVEP is currently taking is assisting businesses with [...]
Note: Funding for the PPP has been extended through August 8, 2020. We continue to update the lender list in this article as new information becomes available. The new funding for the PPP & HCE Act became available on Monday, April 27 after original funding from the CARES Act ran out of money. While it [...]
It was a relief to see that the service departments of automobile dealerships and independent auto repair outlets were included on the list of essential services issued by California Governor Gavin Newsom. Knowing this, I decided to get some deferred maintenance done since my mechanic is only 2 miles from my home. I called for [...]
CVEP’s staff is now beginning our second week of sheltering in place. As the television reports of the growth of the virus is like a light bulb to a moth, there are permanent lessons we are learning from this experience. We continue to see how COVID-19 will change our lives for the long term. The [...]
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