Niagara’s Mayors and Regional Chair have announced a joint effort to support local businesses impacted by COVID-19 with a region-wide Niagara Economic Rapid Response Team.
As we go through this unprecedented and quickly-changing situation, it is critical to work together to support local businesses and employers both now and into the future. Building on a strong foundation of collaboration, the Rapid Response Team will go beyond municipal borders to be as responsive and flexible as possible to the needs of Niagara’s business community
The Rapid Response Team will be comprised of professional economic development staff across Niagara’s municipalities who will work together to respond to the changing needs of local business and employers. The team response will allow municipal resources to go beyond municipal boundaries and that all local businesses receive timely, responsive support.
The Rapid Response Team is already working together to survey business needs, advocate on behalf of Niagara’s business community and help keep business going. The Team is compiling information about federal and provincial support programs that have been announced for businesses and employers. The Team will also consider adjusting local business programs in response to changing needs.
Business owners can contact their local economic development office or firstname.lastname@example.org where emails will be triaged and connected quickly with a member of the Niagara Economic Rapid Response Team.
FEDERAL GOVERNMENT’S ANNOUNCEMENT TODAY
Prime Minister Justin Trudeau has announced that the Canada-U.S. border will close to all non-essential travel, and that the federal government is prepared to spend a combined $82 billion on direct financial help and economic stimulus in response to the COVID-19 crisis.
Among the “extraordinary” aid measures unveiled: deferring the tax deadline, boosting the Canada Child Benefit, wage subsidies for small businesses, and targeted assistance for vulnerable demographics to help “bridge to better times.”
The prime minister said that all Canadians will feel the consequences of COVID-19, and many are wondering how long the current restrictions are going to last, and whether they can endure them.
When will life be back to normal? Not anytime soon, experts say.
For a full run down on the economic response plan outlined by Trudeau to help people financially during the COVID-19 pandemic visit the link HERE
The major new economic measures that the federal government is taking in response to COVID-19 include $27 billion in direct assistance to workers and families, as well as making $55 billion available in liquidity to businesses to help stabilize the economy.
COVID-19 Cases Update
Prior to Trudeau’s address, there were 599 confirmed COVID-19 cases in Canada, and more than 200,000 globally.
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