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Business Preservation

The Inflation Reduction Act allots more than $360 billion for business incentives to promote low-emission technology and manufacturing, which is also creating a competitive drive from businesses in Europe.
The Los Angeles and Long Beach ports move a total of $469 billion worth of freight a year and employ 175,000 workers. But if the industry continues to favor East Coast ports, the impact on Southern California ports could be devastating.
The Business Outlook Survey found that 75 percent of respondents believe that the state’s leaders have fallen short in improving affordability for businesses; 82 percent said the state is somewhat unaffordable for companies.
The Washington state Employment Security Department estimates that the state is set to lose as many as 18,000 tech or tech-related jobs over barely two months. But some are hopeful the layoffs will be short-lived.
A study found that 90 percent of companies listed in the S&P 100 index acknowledged that climate change is a risk to their industry, but only half of them disclosed lobbying practices that aligned with the Paris Agreement.
As the nation prepares for the possibility of an economic recession, one survey found that 60 percent of managers said remote workers would likely be the first to be laid off as compared to in-office positions.
Since the start of 2021, car manufacturers have announced plans to spend at least $50 billion on electric vehicle plants in 10 states and have received commitments of at least $10.8 billion to lure those developments within their borders.
Much of the Seattle area’s office return is stuck in limbo, with just 36 percent of downtown office workers back as of last week. Employees continue working remotely and optimizing flexible schedules.
For approximately 3,000 yellow taxi medallion owners, the city will clear thousands of dollars of debt in an effort to revitalize the industry that was devastated by COVID-19. Those eligible have until Friday to enroll in the loan reduction program.
Nearly every county in South Florida is experiencing job growth; Fort Lauderdale metro area had a jobless rate of 2.8 percent in August and Palm Beach County was at 2.9 percent. But inflation still threatens to upturn the market.
A legislative audit of the state’s $290 million program found that the distribution rate of the funds was slower than predicted and a random sampling of grants found that 39 percent had at least one error while 13 percent were unallowable.
Despite surviving several COVID-related challenges, some businesses are closing due to monthly rent increases, landlord disputes and hiring difficulties. Only about 65 percent of small businesses are currently profitable.
The Maine Technology Asset Fund, a state-funded $45 million business development program, which has produced little public information, helps protect taxpayer investments, experts say.
Justice Unites Us will focus on the state’s Orange County congressional races with hopes of leveraging small business hubs to increase support for Democratic candidates.
Residents of South Carolina’s capital city are concerned about the unintended consequences and environmental impacts of removing barriers for developers and entrepreneurs in an effort to make the city more “business friendly.”
The state is receiving $119 million from the U.S. Treasury’s State Small Business Credit Initiative and will invest in supporting women and minority entrepreneurs as well as businesses that focus on cleaner energy and climate resiliency.