Coronavirus

Greater New Orleans, Inc. is monitoring and acting on the regional impact of the coronavirus.

As the coronavirus evolves, GNO, Inc. is focusing on business continuity.  We want to ensure that we make it through the coming weeks safeguarding economic, as well as physical, health.

As the economic development organization for the Greater New Orleans (GNO) region, the epicenter of economic productivity and tax revenue for the State of Louisiana, it is incumbent upon GNO, Inc. to build a path towards recovery and future prosperity.

This page is designed to provide useful resources and information to businesses and individuals in our region. Click below to access each area of focus:

You can find an additional set of resources here.

Getting Back to Work, In the New Normal

Greater New Orleans, Inc. (GNO, Inc.) released a plan for restarting the Greater New Orleans economy, and reopening businesses with a responsible and safety-first approach. The “Getting Back to Work, in the New Normal: Best Practices for Business Reopening” plan was designed to reflect current best-practices, and will evolve as new information becomes available
  • The plan may be downloaded directly here.
  • You can review the phased approach for reopening the GNO, Inc. office here.
Phase 2 Revised Reopen Guidelines Web

Can My Business Open?

Unsure of whether your business can open? View this explainer to help understand current regulations in Louisiana.

Business Lending Options

Paycheck Protection Program

Paycheck Protection Program

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes an important provision aimed at keeping workers employed and small businesses afloat. In order to help you see all relevant information in one place, we have consolidated documents, with a focus on the Paycheck Protection Program, into a CARES Act Binder

The “Paycheck Protection Program,” which GNO, Inc. and partners strongly advocated for, expands on the Small Business Administration’s existing 7(a) program. But, it is different in two key ways:

  • The loans are made by private, local banks and CDFIs, not the SBA – ensuring speed
  • The loans, if used on payroll and other operating expenses , are forgivable

Louisiana Main Street Recovery Program

Louisiana Main Street Recovery Program
The Main Street Recovery Program is designed to provide financial assistance to Louisiana small businesses that have not previously received government aid or insurance payments. It’s estimated that up to 100,000 businesses may be eligible for these funds, so navigating the application process quickly and accurately will be crucial. Businesses can apply for up to $15,000 to cover eligible expenses. Applications will begin in late July.

Business Assistance Resources

Key Resources:

The Louisiana Loan Portfolio Guaranty Program

  • This program will offer loans of up to $100,000 to Louisiana small businesses of fewer than 100 employees that are impacted by the COVID-19 crisis. Further, the loans will require no payments for 180 days, and carry below-market interest rates of no more than 3.5%. You can learn more about the program here.

Employee Retention Credit
A 50% tax credit for the first $10,000 of compensation, including the employer portion of health benefits, for each eligible employee. In order to qualify, companies must have fully or partially suspended operations to comply with government prevention mandates, or have gross receipts at less than 50% of a comparable quarter last year.

  • For a guide to the Employee Retention Tax Credit, click here.
  • To access IRS Form 7200, which is needed to claim the credit, click here.
  • To find the IRS’ answers to FAQs about the credit, click here.

NOTE: If a business is receiving a loan under the Paycheck Protection Program, they are NOT eligible for the Employee Retention Tax Credit, as this would be considered “double dipping” for the same payroll and the same workers.

Federal Main Street Lending Program

  • The Federal Reserve has announced that it is establishing a Main Street Lending Program (Program) to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic.
  • GNO, Inc.’s Overview of the program
  • The Federal Reserve has compiled a list of Frequently Asked Questions (FAQs) for review.

Employment Updates

Higher Education and Training Resources

GNOpivot is an initiative to help regional companies move to “war-footing,” wherein they pivot their standard operations in order to make products or provide services in demand for the fight against the Coronavirus.

As our region reopens for business, companies are in need of products and services to protect their workers and customers. The GNOpivot Marketplace is an online platform for purchasing PPE, signage, digital services and more. The full catalog of products can be accessed at gnopivot.org.

Coronavirus Support for Music Industry Workers

GNO, Inc. has spearheaded the New Orleans Music Economy, an initiative with a vision for New Orleans to have both the brand of America’s premier music city and a thriving music economy that provides jobs and wealth to support musicians, IP managers, publishers, marketers, legal representatives, and all other aspects of the business of music. This will sustain our artists and keep them here, and will create thousands of jobs and millions of dollars in wealth to benefit the Greater New Orleans region. Through the New Orleans Music Economy Initiative, New Orleans will capture the value of its musical culture and re-invest it at home.

Learn more about the program from our Executive Summary.