TOP U.S. SMALL BUSINESS ADMINISTRATION OFFICIALS COMING TO HUDSON VALLEY TOMORROW FOR LOCAL MANUFACTURERS COVID-19 RECOVERY LISTENING TOUR
Discussion will center around Hudson Valley manufacturers’ continued economic recovery, Paycheck Protection Program success stories; other SBA assistance that keep workers employed, company doors open
NEW YORK, NY – The U.S. Small Business Administration Atlantic & Mid-Atlantic Regional Administrator Steve Bulger and the Chair of the SBA Manufacturing/Supply Chain Resiliency & Recovery Task Force Wendell Davis, who also serves as SBA New England Regional Administrator, will tour the Hudson Valley tomorrow, Friday, October 23 in three different events across Dutchess and Ulster counties.
In New York State, small businesses and manufacturers were approved for almost 350,000 SBA Paycheck Protection Program loans totaling approximately $38.7 billion dollars, the third highest volume of any state in the nation. Empire State Manufacturers were approved for 13,541 of PPP loans, or 3.9% of the statewide total, for an estimated total volume of over $3.2 billion, over 8.2% of PPP funds approved in New York.
The forgivable PPP loans, authorized by the CARES Act signed into law by President Trump, were used to keep workers employed, receiving their paychecks and health benefits throughout the COVID-19 situation regardless of any state or local shutdown orders, quarantines or re-opening phases.
Media is asked to RSVP to matthew.coleman@sba.gov for credentialing purposes in order to attend one or more event.
KEY OFFICIALS
- SBA Atlantic & Mid-Atlantic Regional Administrator Steve Bulger
- SBA Manufacturing/Supply Chain Resiliency & Recovery Task Force Chair Wendell Davis
- Local Hudson Valley Small Business Owners
WHEN
TOMORROW - Friday, October 23, 2020
TOUR SCHEDULE
10am to 11:15am
Small Manufacturers Roundtable
Roundtable: 10am to 11am
Media Avail: 11am to 11:15am
Rhinebeck Bank
2 Jefferson Street, 3 rd Floor
Poughkeepsie, New York 12601
Participants joining key officials include:
- Harold King, President, Hudson Valley Council of Industry
- George Quigley, President, Ertel Alsop – Kingston, NY liquid filtration manufacturer
- Steve Effron, President, EFCO Products – Poughkeepsie, NY food products manufacturer
- Philip J. Bronzi, Rhinebeck Bank Senior VP & Commercial Lending Director
- Other local manufacturers & Council of Industry members
12:00 noon to 1:00pm
Small Business Visit
Great b-roll visuals, Q&A, One on One interview opportunities
Fala Technologies
430 Old Neighborhood Road
Kingston, New York 12401
Participants joining key officials include:
- Frank Falatyn, President, Fala Technologies
Kingston, NY contract manufacturer of electro/mechanical products
- Mike Caslin, CEO, Global Center for Social Entrepreneurship Foundation
Leading national social entrepreneurship higher education & training team
1:30pm to 2:15pm
PPP Success Story Visit
Great b-roll visuals, Q&A, One on One interview opportunities available
TBD
The federal officials’ visits will take place in New York’s 19th Congressional District which boasts 580 manufacturing businesses that employ over 8,800 residents according to the U.S. Census Bureau Statistics of U.S. Businesses. The average annual financial compensation for each workforce member is $76,269.45, almost $14,000 higher than the average non-farm business compensation at the time of the last federal report in 2017.
Across the Empire State, manufacturers account for 4.45% of the total economic output – or approximately $74.58 billion in 2018, according to the National Association of Manufacturers.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small
businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and
support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of
SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.