See What's Happening in Business on the Monterey Peninsula
5/24/2022 – 10:00 AM
MISSION: success in two stages of the Coronavirus threat: 1.) response to the immediate threat - 2.) economic recovery when the threat diminishes.
Recap
City of Monterey. 2022-2023 City Budget outlook presented to city council last week. $1 million into pension reserves. Areas to look at expenditures aka “funding models”: Neighborhood and Community Improvement program (NCIP), MCCVB contributions: 6% (net 4.9% after subtracting conference center debt service), trolley subsidy, Sports Center lost 50% occupancy of what it was in 2019. June 7 city will release details about a new finance position to keep track of business license fees - Visit Business License site to learn more.
Monterey County. Economic Opportunity Committee will be seeking applicants. Board of Supervisors will discuss budget June 1-2.
Healthcare. COVID-19 cases are still in our community. Today, we have 8 COVID-positive patients at Community Hospital, tracking the approvals for vaccines for kids under 5 and will share information when we know when and where kids of this age can get the vaccine. Today, conducting an emergency exercise in partnership with the Monterey Airport and local fire and emergency services. "Fake" patients will be arriving at Community Hospital so we can test our "code triage" emergency response. Community Hospital participates in several multi-agency emergency drills per year to best prepare for real disasters.
Hospitality & Tourism. Conference Center - Leisure travel up but not helping with Conference Center. MCCVB - 2021 Dean Runyon Associates impact report is in. Some recovery $2.5 billion generated by hospitality in 2021 down from $3.2B in 2019 - 20% gap. Occupancy over Memorial Day expected to be over 90% - seeing more visitors from Canada and Europe here at the Chamber offices. Hospitality jobs in 2021 were 21,000 - down 30% from 2019.
Financial, SBA, Loans. Prime rate up to 4%, Monterey County microbusiness grants still available. Workforce Development Board administering $2500 microgrant is still available for application - very small businesses. Visit Workforce Development Board website to apply.
Construction/General: MBEP had its 8th Annual Regional Economic Summit and hosted a Monterey Peninsula Housing Element Workshop in Seaside-Chamber had a representative as a panelist.
MPCC. We invite our members to reach out regarding our collaboration with Blue Zones Monterey County “Purpose Driven Workshop”. Please contact our office with any questions or concerns.
MPCC BOD and Economic Vitality Committee Support. Monterey County Safe, Affordable, Quality Child Care Act. Learn more at www.yes4montereycountykids.org
Next teleconference will be held Tuesday 6/7/2022 at 10:00am
Googie Grill would like to welcome members of the community to join us for a Re-Grand Opening Ribbon Cutting. Light refreshments, raffle, and an opportunity to connect.
Congratulations to Joby Aviation, City of Marina, and Monterey County on their 2022 Public-Private Partnership Honor!
Three local entities were awarded Monterey Bay Economic Partnership’s 2022 Public-Private Partnership Award, which recognizes those types of partnerships that help the Monterey Bay region grow and thrive.
Joby Aviation, the City of Marina and Monterey County are part of the three-way partnership that has benefited the region in a number of ways and presents tremendous potential for greater economic impact in the future. Read the full article in the Monterey Herald.
