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Bay Future | Bay Future Focus: February 2021

08.21.19 -- BayFutureDriveForward.

President & CEO’s Message

In response to the overwhelming need for additional COVID-19 small business relief funding, our team has been diligently working on the final review of Michigan Small Business Survival Grant Program applications. Bay Future, Inc. has received approximately 220 applications under the program from a wide range of Bay County businesses with a total grant amount of just under $650,000 available.
 
In tandem with our regional partners at Saginaw Future, Inc., we have identified priority industries, locally, as those who have been most adversely affected by the Gatherings and Mask Order. Such as; food service establishments, exercise facilities, and recreational facilities and places of public amusement. While these industries were identified as priorities, all applications received ahead of the deadline were considered. Additional information on program eligibility as well as our local priority industries can be found here.
 
It’s important to note that the timeline on this process has been adjusted and grants will be awarded no later than February 28, 2021. Our team is working aggressively to get these funds into the hands of small businesses as quickly as possible and ahead of that deadline.
 
In the meantime, please continue to support our community’s small businesses in any way you can. We can not thank you enough.
 
Trevor Keyes Headshot _YWCA Campaign 2014_resizedHappy reading,
 
-Trevor Keyes, EDFP
President & CEO
Bay Future, Inc.
 

Great Lakes Bay Michigan Works! was awarded $1.8 million in Going Pro Talent Fund grants for 48 employers in Bay, Gratiot, Isabella, Midland and Saginaw counties. These funds will provide crucial opportunities to train new and existing employees in areas like lean manufacturing, inventory management, blueprint reading, advanced safety, welding, and accounting. This year, these funds will provide training for over 1,400 employees, including 91 apprentices, resulting in more than 1,990 certifications. Read full press release.
 
11 Bay County Businesses were awarded $438,539!
 
 
To view the full list of recipients click here.
 
 
Featured Event
 
Bay Area Chamber of Commerce
21st Annual State of the Community
 
Modeled after the State of the Union and State of the State addresses, the State of the Community gives members and local community leaders an insight into the status of the Great Lakes Bay Region and its communities.
 
Investor Spotlight
 
Saginaw Valley State University
Saginaw Valley State University is Bay County’s number one choice for a degree or certificate. SVSU has remained the most affordable public university in Michigan for over 25-years, offering career pathways to 37 of the Hottest 50 Careers in Michigan. Thousands of private scholarships and financial aid help 1/3 of SVSU students graduate with zero debt. Our 8,000 students hail from all over Michigan and come from almost 50 different nations, around the world.
 
The faculty at SVSU specialize in many different disciplines including teaching, engineering, business, nursing, and management. The highly engaged faculty work on many projects home to Bay County, including the Saginaw Bay Writing Center, Saginaw Bay Environmental Science Institute and Bay Community Health Clinic. 
 
As a University which is dedicated to serving the businesses of our Region, SVSU has many different resources to help start and grow your organizations. The Business Excellence Center at SVSU is home to the Small Business Development Center, Michigan Manufacturing Technology Center, Stevens Center for Family Business and the SVSU Independent Testing Laboratory. 
 
Thank you SVSU for your investment in BFI!
 
 
 
Program Highlight
 
Employee Retention Tax Credit
 
The Consolidated Appropriations Act, 2021, was signed into law on December 27, 2020. Among many changes and updates to the prior relief legislation for COVID-19, this law clarifies and expands the employee retention credit that was created by the CARES Act.
 
Previously it had not been available to employers who received a PPP loan. Your business may be eligible for this credit and if you haven’t applied for forgiveness on the first PPP loan yet you could choose a covered period that allows you to get the maximum credit.
 
Below are a couple of articles that go over the changes and what they mean.
 
 
 
 
Featured Property
3712 Patterson
 
Former dance studio & Olympic training facility available. Located in Industrial Zone in Bangor Township, MI. Additional 4 acres to develop west of building. More info 

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