MEP: Task force formed

Economic Recovery Task Force formed

Many of us experienced profound upheaval when the onset of COVID-19 suddenly upended our lives, our businesses and our economy. The month since has been disorienting and uncertain. In truth, the breadth, depth, and duration of the impacts of this disruption remain unclear and may remain so for weeks or even months. We will inevitably face challenges ahead that we have not yet even realized. However, our local community is quickly rising to this challenge, providing encouraging signs of resilience and reasons for optimism.

Through the Missoula County Economic Recovery Task Force, efforts are underway across public, private and non-governmental sectors at national, state and local levels. All members of the Task Force are working collaboratively to understand and respond to the impacts that Missoula County residents are experiencing during the COVID-19 pandemic. The pace, scale and sense of collaboration among these efforts to provide relief has been unprecedented, if admittedly imperfect. The Task Force is working to ensure every available resource is accessible to members of our community, to identify gaps in resources, and to fill those gaps with supplemental support.

The passage of the CARES Act by Congress in recent weeks created new federal relief programs for business entities and individuals impacted by the COVID-19 pandemic. The implementation of these programs has largely relied on our banks and credit unions to serve as front line resources for small businesses. Montana’s financial institutions lead banks across the region in delivering relief through new federal programs such as the Economic Impact Disaster Loan Program and the Paycheck Protection Program. Estimates at the end of the first week of implementation suggest that over 1,500 Missoula area businesses have been approved for approximately $200M in loans, much of which qualifies for loan forgiveness based on initial program criteria.

While these resources promise economic relief for businesses, access to these programs GRANT KIER Missoula Economic Partnership

is not without challenges. Businesses that don’t have an existing relationship with a bank or that lack legal and accounting teams are still facing difficulty navigating relief programs. In response to this challenge, the University of Montana, in partnership with the Task Force, has established the Business Emergency Assistance Relief (BEAR) Program. BEAR Powered by UM offers a simple online form that business owners can submit to get help navigating these programs and identifying the COVID-19 relief resources that will best meet their needs.

Unsurprisingly, a number of Missoula County businesses have quickly adapted their products and services to changing demands, meeting community needs while keeping people employed. Bonner’s Coaster Cycles has retooled their entire operation to manufacture face shields for healthcare providers, Montgomery Distillery is manufacturing hand sanitizer for first responders, many local restaurants and retailers have implemented take-out/delivery models, and the Missoula City-County Health Department has contracted with local tech startup PatientOne to provide a software platform for remote monitoring of patients diagnosed or suspected to have been exposed to COVID-19 by healthcare providers.

In the weeks ahead our leaders will be forced to make tough choices with no clearly right outcomes, and every member of our community will be called on to demonstrate new levels of leadership and compassion. We don’t know when we will be able to transition toward opening businesses and an active economy, but we know that transition is inevitable. Making that transition safely and successfully will require every bit and more of the cooperation, communication, and innovation that we are seeing from our community today. To contribute to a safe and smooth economic recovery, please stay informed and share accurate information that can be found at http:missoulapartnership.com or through any member of the Missoula County Economic Recovery Task Force.

Grant Kier is the President and CEO of the Missoula Economic Partnership.