Schenectady County is committed to working with our business community to navigate these difficult times.
The Schenectady County Metroplex Development Authority has waived all parking fees at 13 parking lots and the Metroplex parking garage to make it easier to pick up meals at the many downtown restaurants offering take-out and delivery service.
Metroplex is working closely with the Downtown Schenectady Improvement Corporation (DSIC) and Discover Schenectady to promote restaurants and other service providers as they continue to serve customers.
Our economic development team is also helping many manufacturing companies and construction firms with questions about essential service definitions and other details related to federal and state assistance programs.
We are also working with companies that have Metroplex loans to assist them through these difficult times.
Enhanced Unemployment Benefits
The first line of defense in a crisis like this is use of traditional and enhanced unemployment benefits.
The federal aid package recently passed by Congress provides for enhanced unemployment insurance benefits. These enhanced benefits coupled with New York’s existing program may help some employees receive as much as $1,100 per week to help weather this health crisis and economic storm.
Please use this link to obtain more information about unemployment benefits:
https://www.labor.ny.gov/home/
We encourage all residents of Schenectady County who have been furloughed or who have lost their jobs to apply for unemployment insurance immediately. These benefits are designed to help provide economic assistance during the time period when many workers are being asked to stay at home.
For more information this fact sheet should be helpful.
Business Support Programs
There are also new programs designed to help businesses retain employees and cover the cost of some operating expenses. While some of the new federal resources include disaster loans, we are cautioning businesses that adding debt is something to be taken very seriously given current business conditions.
One very large new federal program – the $349 billion Paycheck Protection Program (PPP) is definitely worth consideration by our business community. It provides for loans which can be forgiven if certain requirements are met.
More information about the Small Business Administration’s PPP Program can be found here:
https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
An application can be found here:
https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf
A borrower information fact sheet can be found here:
https://home.treasury.gov/system/files/136/PPP%20Borrower%20Information%20Fact%20Sheet.pdf
Applications for SBA’s new PPP program will be accepted starting on April 3, 2020.
Summary
We are fortunate that many employers in Schenectady County continue to operate as essential businesses providing vital jobs and economic activity at this time when national business activity has slowed or stopped.
If we can be of assistance, please contact us by email as Metroplex staff is following safety protocols by working in the office with social distancing and working from home.