SLO County considers economic relief as Newsom rolls out proposal

SLO County Supervisors Dawn Ortiz-Legg and John Peschong formed a subcommittee last week to look into measures to support businesses struggling under the impact of Covid-19 restrictions. Several cities across the region have rolled out programs to help small businesses keep their doors open, and the Supervisors are following suit to consider how to support businesses in the unincorporated area.

 

pie chart of Newsom's proposed recovery package

Meanwhile, Gov. Newsom unveiled a  $4.5 billion recovery plan. If approved, the Equitable Recovery for California’s Businesses and Jobs plan would provide a massive boost to economic recovery efforts through wide-ranging measures. A few highlights:

  • Doubling the state’s Small Business COVID-19 Relief Grant Program with $575 million in new funding
  • A $777.5 million jobs initiative with measures including increased funding for the CalCompetes and Main Street tax credits, additional funds for small business loans through IBank and a new California Dream Fund to support entrepreneurship in underserved communities
  • $353 million for workforce development
  • $300 million for maintenance that will create jobs while greening state infrastructure
  • $500 million for housing-related infrastructure that will create jobs and aid development of affordable housing
  • $1.5 billion for kickstarting the transition to zero-emission vehicles

Money for the small business grant program along with fee waivers, state stimulus checks for law-wage workers, rental assistance and $2 billion for reopening schools are included in a $5 billion package that Newsom is asking the Legislature to fast track and pass within 2 weeks.

Other measures are part of the governor’s proposed $227 billion spending plan released last week, kicking off the process to pass a state budget in June. The record-breaking proposal reveals the state’s unexpectedly strong position coming into the new year and Newsom’s ambitious goals for climate resiliency and education as well as Covid recovery.

Read more at CalMatters: “Better than ‘anyone could have imagined’: Inside Newsom’s optimistic, record-breaking budget proposal.”
 

cover of the 2021 Roadmap to Shared Prosperty2021 Roadmap for Shared Prosperity released

The Roadmap synthesizes work at the December’s California Economic Summit, outlining the priority actions California Forward, the California Stewardship Network and partners like REACH will pursue over the coming year.

Major initiatives address climate resilience, cradle-to-career education and expanding broadband access. Read more here.

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