Wednesday, August 5, 2020
David's Data Digest: Reduced Air Traffic at PSP
Throughout the COVID-19 crisis we have been inundated by data about number of cases, testing, current hospitalizations, etc. It can all be very overwhelming and difficult to put into perspective. In today’s digest we are going to look at a noticeably clear and profound metric: passenger counts at the Palm Springs International Airport (PSP). Through the end of June, passenger traffic is down an astonishing 47%, even including the normal passenger counts in January and February.

The lockdown, which started in mid-March, had an immediate effect, with passenger traffic for the month quickly dropping 50%. April and May traffic were down an unfathomable 97% and 90%. Projecting a conservative 50% drop in passengers for the rest of the year would result in a 2.8 million decrease in passengers for the entire year, resulting in passenger traffic for the year being only one-third of 2019.

Source: City of Palm Springs
Register now for the Palm Springs Life Market Watch webinar: Sales Are Up... Will It Last?

Mike McDonald (Market Watch LLC), Walter Neil (Franklin Loan Center), and Brady Sandahl (Brady Sandahl Real Estate Group at Keller Williams Luxury Homes) present on inventory & metrics in the Coachella Valley; mortgage credit and forbearance; and mastering the market of the moment.

Tuesday, August 18, 2020, at 8:30 a.m. Click here to register.
LifeStream Blood Bank's 9 Cities Challenge runs through Aug 31. Find a Blood Drive near you or visit a donor center.

You can help your city come out on top! Regardless of who earns bragging rights, one thing is certain: The real winners of the challenge are local hospital patients and their loved ones, who count on a caring community to share the life-saving gift of blood. All successful blood donations will also be tested for COVID-19 antibodies, which indicate previous exposure, but not current infection.
Applications for $10,000 Riverside County COVID-19 Business Assistance Grants are being accepted on a first-come, first-served basis through August 31.

Expanded eligibility for this round of funding means more businesses will be able to apply! The expanded eligibility includes sole proprietors (those with no employees) and businesses that received an SBA EIDL loan or advance. Businesses that received PPP loans are not eligible. Applications must meet certain other criteria: visit the website to learn more and apply.
The California Competes Tax Credit (CCTC) application period is now open, with $80 million in available tax credits. The deadline to submit applications is Monday, August 17, 2020, at 11:59 p.m. (Pacific Time). The online application website will automatically close once this deadline has passed.

See the announcement for this fiscal year here. Applicants or interested parties can connect directly with the CalCompetes team at 916-322-4051 or email at calcompetes@gobiz.ca.gov.
SBA Live Webinar, today, August 5, at 2:00 p.m., answers your PPP forgiveness questions! The U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly PPP loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.

The new EZ application requires fewer calculations and less documentation for eligible borrowers. Both of these topics will be discussed in today's 2:00 p.m. webinar: register now.
The State of California has released the COVID-19 Employer Playbook for a Safe Reopening to help employers reduce risk and the spread of COVID-19 in the workplace.

Working from home has given employees the freedom to do their work from just about anywhere. A new realtor.com/HarrisX survey indicates that buyers are indeed moving because of the pandemic, and they're looking for a dedicated home office space.

The Desert Sun Editorial Board weighed in this weekend, expressing support for the mission of Priority One Coachella Valley (P1CV). The goal: a standalone CSU campus in Palm Desert: a goal that has been high on CVEP's list for years.

We're certain the readers of this piece from Conde Nast Traveler can appreciate the beauty of the 50 Most Beautiful College Campuses in America. What's really stunning is that you'll see a very familiar campus - with a Valley-wide presence - on the list.

You already know how technology has stepped in to facilitate meetings during the pandemic. Another area where tech is gaining ground rapidly: multi-family real estate.

Virtual consulting is proving to be just as effective as in-person consulting. Sometimes, the digital format is just right. CVEP has been conducting virtual consulting throughout the pandemic and Brand Therapy is an especially unique offering.

Is your inbox flooded with messages promising lucrative new business opportunities? Multi-level marketers are seizing the opportunity presented by COVID's high unemployment numbers.

One-third of New York City's small businesses may be gone forever.

Technology news that might be of use when gyms are closed again in the future: gene therapy shows promise for building muscle.

Here's why the markets don't seem to care if the economy is in otherwise terrible shape.

Coachella Valley Economic Partnership| Website