March 2020 Newsletter
We’re living in trying times. Although there are no confirmed cases of COVID-19 in Powder River County, even our remote location is feeling the economic impact of this outbreak. With many businesses closed, cattle prices tanking and employees suddenly out of work, we encourage you now more than ever to support your community. Be safe, stay healthy and take advantage of the resources available to help us get through this crisis.
Unemployment: The Governor announced emergency rules to waive the one week waiting period and make unemployment benefits accessible to those impacted by COVID-19. Benefits apply whether you’ve been laid off, had hours reduced, are quarantined, or need to take care of a family member. People who are eligible for these benefits can apply online at: www.montanaworks.gov or contact the UI Division over the phone at: (406) 444-2545.
Department of Labor Guide on Benefits Eligibility: Offers a side-by-side table as a tool for workers and employers to compare various eligibility scenarios including employer-sponsored sick leave, Unemployment Insurance, and Workers’ Compensation coverage.
Disaster Relief Funding: Complete an Economic Injury Worksheet on how your business is being affected to help secure eligibility for disaster relief funding options, including SBA (Small Business Administration) low-interest loans. If you need assistance please email Big Sky Economic Development at contact@bigskyeda.org
Banking: Stockman Bank is offering to defer loan payments that are due, restructure debt for borrowers and work with commercial and Ag customers directly impacted by this crisis on a case-by-case basis. Contact your financial institution to learn what options are available to you.
Tax Credits: Businesses with less than 50 employees can be exempted from new emergency regulations requiring paid leave, but employers who do provide paid sick, family or medical leave for coronavirus-related reasons may be eligible for a payroll tax credit through the Emergency Family and Medical Leave Expansion Act. The credit is equal to 100% of the qualified leave wages paid. Ask your payroll agent or tax expert for more information.
Local Impacts: Our Broadus businesses have gone above and beyond during these last few weeks and you can show them your appreciation and support in a number of ways:
· Shop local: Prices are sometimes negatively influenced by our geography, but your patronage is supporting a neighbor and essential services in our community. Plus, with travel discouraged and the generous free delivery services on offer, the health of your loved ones and our community will profit by shopping locally.
· Shop online, purchase take-out or delivery options or buy a gift certificate: With many businesses forced to close or limit their services it’s important to consider other spending options.
· Follow/interact with social media posts, leave a positive online review or give a compliment: If you’re feeling the pinch of this economic downturn, you can show your support in other ways besides shopping.
Stay safe and email us at powderriverchamber@gmail.com if we can assist you with additional information.