January 2021 Newsletter

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January 2021 Newsletter

Feb 19th, 2021

SBA Re-Opening Paycheck Protection Program to Lenders

From Grand Strand CEO

“A second round of PPP could not have come at a better time, and the SBA is making every effort to ensure small businesses have the emergency financial support they need to continuing weathering this time of uncertainty,” said SBA Administrator Jovita Carranza. “SBA has worked expeditiously to ensure our policies and systems are re-launched so that this vital small business aid helps communities hardest hit by the pandemic. I strongly encourage America’s entrepreneurs needing financial assistance to apply for a First or Second Draw PPP loan.”

Updated PPP Lender forms, guidance, and resources are available at www.sba.gov/ppp and www.treasury.gov/cares.

Click here to read the full article.

Shuttered Venue Operators Grant

The Shuttered Venue Operators (SVO) Grant program was established by The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the Small Business Administration’s Office of Disaster Assistance.
The SBA is preparing is preparing information on this grant now.
Click here for more information.

The federal Paycheck Protection Program offers forgivable loans to small businesses, but it has been changed several times. Here are your answers to the biggest questions about everything from eligibility criteria to amounts of funding provided.

South Carolina Department of Commerce

ECONOMIC OUTLOOK

The South Carolina Leading Index (SCLI) fell 0.19 points last month, ending with a value (following revisions) of 102.58. SCLI metrics were mixed in November. Unemployment claims were 22.3 percent lower than in October. The number of issued housing permits decreased 7.1 percent month-over-month and valuation for the permits fell 14.0 percent. Average weekly manufacturing hours fell 2.4 percent. The Dow Jones Composite Average was up 10.1 percent.

For more information click HERE

Home Prices Rose 13% in December,
Sales Up 16%

From Grand Strand CEO
The national median home-sale price rose 13% year over year to $334,300 in December, according to a new reportfrom Redfin (www.redfin.com), the technology-powered real estate brokerage. Homebuying demand barely slowed during what is typically one of the slowest months of the year. Closed home sales were up 16% from a year earlier and pending sales were up 35%, while new listings were up just 14%. The housing market’s continued intensity is due in large part to the continued decline in home mortgage interest rates.

Read full article here.

Did You Know?

Tidelands Health is administering the COVID-19 vaccine to individuals ages 70 and older. To request an appointment to receive the first and second doses of the vaccine, please click here.

WHAT IS SCRIBBLE?

South Carolina’s content toolkit for the pursuit of innovation. Launch into inspirational sessions with innovators across the state and beyond.

To stay up-to-date on everything happening in our area that pertains to our partners and Horry County, follow us on Facebook and Instagram. For more information about the Myrtle Beach Regional Economic Development Corporation, contact us at [email protected] or (843) 347-4604.

Congratulations!

Myrtle Beach International Airport has been nominated by
USA To da y in their 2021 10Best Readers’ Choice travel awards! The expert panel selected Myrtle Beach International Airport as a contender for Best Small Airport, which just launched. The contest gives voters four weeks to vote for the candidate of their choice. A person can vote once a day for the run of the contest. Voting ends Monday, February 1st and the winners will be announced on
10Best on Friday, February 12th.
Vote today for Myrtle Beach International Airport!

Upcoming Events

Look for information on these upcoming events: Event dates, locations, and times are subject to change and/or cancellation due to COVID-19 updates from the CDC.

February 18: Cares Act Information & Updates
Virtual Event

February 24: Be Pro Be Proud @ HGTC

The Workforce Workshop tour will feature a customized, interactive trailer loaded with information, skills challenges and more as it makes its way across South Carolina visiting companies, schools and community events.
Open to the public 9:00-3:00.

POSTPONED
MBREDC Annual Meeting
on January 8, 2021

In consideration of our members and to adhere to CDC recommendations,
the MBREDC Annual Meeting
will be held at a later date.
The MBREDC will determine
a new date by the end of First Quarter 2021.

Limited Sponsorships available for the upcoming
Annual Meeting

Contact Sandra James immediately if interested

Interested in Sponsoring 2021 events?
Contact [email protected] or 843-347-4604