Virginia Chamber of Commerce Weekly COVID-19 Update: April 10, 2020
A Message from Virginia President and CEO, Barry DuVal:
The Virginia Chamber remains committed to providing the business community with the most up-to-date COVID-19 information and resources.
Earlier this week, Governor Northam announced the suspension of all new spending in the pending two-year budget to preserve the state’s reserve funds for essential services. In the meantime, the Northam administration will be working with members of the General Assembly to assess the economic impact of COVID-19 and develop a new strategy for the budget, while considering expected funds from the CARES Act.
On April 8, Governor Ralph Northam announced his recommendation to postpone upcoming Virginia elections in response to COVID-19. The Governor has requested that the General Assembly move the May general elections, and all special elections scheduled for May, to November 3, 2020, the date of the regular general election. Additionally, Governor Northam has used his statuary authority to move the June primary elections from June 9, 2020, to June 23, 2020. More information on these changes can be found below.
The General Assembly is expected to reconvene on April 22, and both the House and Senate are working diligently to take precautionary measures to ensure their respective chambers can continue business, while being mindful of social distancing. The Senate of Virginia has announced that they will be meeting in the 800-person pavilion behind the Science Museum of Virginia. The House of Delegates has not formally announced where they will relocate but have expressed, they are looking into several options including the Capitol Square Grounds.
Due to the COVID-19 outbreak and ever-evolving situation, the Virginia Chamber made the decision last week to postpone all of our scheduled spring events. Today, I am pleased to announce the new dates for each of these events and confirm the chamber’s tentative 2020 event programming schedule. We hope you will mark your calendars now for these signature events, and our team will be releasing additional details on each event in the coming weeks.
Best Regards,
Barry DuVal
President
Virginia Chamber 2020 Event Updates:
Due to the COVID-19 crisis and ever-evolving situation, the Virginia Chamber made the decision last week to postpone all of our scheduled events for the spring. We have secured new dates for each of these events later in the year.
Please find below an updated tentative event calendar for the fall months. Additional details on each event with be released in the coming weeks.
SAVE THE DATE
August 19
Virginia Veterans & Military Affairs Conference
September 17
Virginia Conference on Energy Diversity & Corporate Sustainability
October 7
Virginia Health Care Conference
October 27
Virginia Education & Workforce Conference
November 5
Virginia Chamber Annual Dinner
December 4
Virginia Economic Summit
Upcoming COVID-19 Webinars
Visit the Virginia Chamber COVID-19 Resource Center for a weekly overview of the available webinars for the business community.
Virginia Chamber members are encouraged to share any additional webinar resources and opportunities that should be highlighted in this section by contacting our team at policy@vachamber.com
Governor Northam Announces Plans to Postpone Upcoming Virginia Elections in Response to COVID-19
Governor Ralph Northam today requested the General Assembly move the May General Election and all special elections scheduled for May 5, 2020 to the November 3, 2020 General Election date to further mitigate the spread of COVID-19. The Governor is also exercising his statutory authority (§ 24.2-603.1 of the Code of Virginia) to move the June primary elections from June 9, 2020 to June 23, 2020.
Moving the upcoming May elections requires action by the General Assembly. The plan the Governor is proposing includes the following measures:
- There will be one ballot in November.
- Voters who are qualified in November will be able to vote in November. An individual who was not qualified in May but is qualified in November will be able to vote.
- All absentee ballots already cast will be discarded. Virginians will have an opportunity to vote for local elected officials in November.
- Those officials whose terms are to expire as of June 30, 2020 will continue in office until their successors have been elected on November 3, 2020 and have been qualified to serve.
Read the full press release here
SBA Resources: Sustaining Business and Nonprofits
Paycheck Protection Program (PPP) — use the Lender Match tool to find lender where can apply. Entities can obtain zero-fee loans up to $10 million running from February 15, 2020 through June 30, 2020. Up to 8 weeks of average payroll will be forgiven if the business retains its employees and their salary levels.
Emergency Economic Injury Grant — use the Economic Injury Disaster Loan application. It includes $10 billion to provide an advance of up to $10,000 for businesses and nonprofits that apply through SBA within 3 days.
Small Business Debt Relief Program — use the Economic Injury Disaster Loan application. Once an entity applies for EIDL, the SBA has three weeks to respond. EIDLs are loans up to $2 million with interest rates of 3.75% for businesses and 2.75% for nonprofits. If an entity receives the loan January 31 to June 30, 2020, it can apply for a PPP loan or refinance for PPP.
Order Extending Declaration of Judicial Emergency in Response to COVID-19 Emergency
On March 16, the Supreme Court of Virginia issued an order extending the length of judicial emergency declared in response to COVID-19 from April 6 to April 26. Except in limited circumstances, non-emergency court proceedings in all circuit and district courts will be suspended and all deadlines will be tolled and extended. For a list of the measures the Court implement, please click here for a link to the order.
Paycheck Protection Program (PPP) Information Sheet
The U.S. Department of Treasury shared new information regarding the Paycheck Protection Program. Please review the resources provided by the U.S. Department of Treasury below and visit their webpage for additional information.
- A top-line overview of the program can be found here.
- If you’re a lender, more information can be found here.
If you’re a borrower, more information can be found here.
S&P Global Market Intelligence Provides Complimentary Access to Hospitals and State/Local Governments to Help Track Supply Chains of Ventilators and PPE
To aid in the fight against COVID-19, S&P Global Market Intelligence is offering complimentary access to Panjiva’s Supply Chain Intelligence platform to hospitals and relevant government agencies, helping them in tracking the supply chains of ventilators and personal protective equipment (PPE). With complimentary access to Panjiva, hospitals and local government agencies at the state, local and federal levels can track and manage inventory of essential equipment such as PPE, including N95 masks, gloves, gowns, and face shields.
