There is no question that the COVID-19 pandemic stifled growth and prosperity for businesses at the start of 2020.
As the crisis unfolded, leaders of the business community — like the Phoenix IDA and Phoenix Community Development and Investment Corporation — recognized that the pandemic would negatively impact small businesses that bolster local communities. Through various resources, both organizations provided funding to support the local economy. This was done in coordination with Mayor Kate Gallego and the Phoenix City Council, Arizona Public Service, Local First Arizona, the Arizona Community Foundation and community nonprofit lenders offering the Small Business Administration’s Paycheck Protection Program. Both the Phoenix IDA and the PCDIC used resources and experience from their daily work of improving communities for underserved residents to work quickly, leverage existing relationships and provide relief as fast as possible.
More than 200 businesses of various types received grants during the initial round of funding this spring: restaurants like Han Korean BBQ, Inc. and The Breadfruit, private photographers such as Aaron Kes Photography, hair salons like Organic Hair Salon, and neighborhood favorites like Cha Cha’s Tea Lounge. These businesses used their grant funds to cover costs for personal protective equipment for employees and cleaning supplies to sanitize and keep customers safe.
This month’s cover story takes a close look at how grant-making organizations are impacting our community in this time of COVID-19 and economic shutdown as they provide funds directly to businesses and more indirectly contribute to business strength with funds for nonprofits (which were on the front lines of the pandemic assisting families and others with food boxes, loss of income, housing and more). Organizations that provided grants, such as the Phoenix IDA, and some of the recipients of those grants share their views and experiences in “Great Impact: Funding Businesses and Nonprofits to Sustain Our Economy.”
Critical to every organization today is the topic of diversity in the workplace. This edition of In Business Magazine includes feature article “Develop a Diversity & Inclusion Plan that Isn’t Fluff.” Eric Bailey offers concrete suggestions to help businesses create their own best plan through steps that are easy to present; the challenge is in their follow-through.
It’s election season and, as leaders, we need to be proactive with setting guideposts for our teams regarding talking politics “at the office.” Attorney Mike Baize provides tips for navigating political discussions in remote — and traditional — workplace settings in the Roundtable feature “Election Year Talk and Tempers in a Virtual Workplace.
And COVID-19 continues to permeate business activity, as is seen in the experience of both businesses spotlighted for this month’s Startups feature, advances in hospital and medical center disinfecting procedures shared in a Healthcare article, high-rise building management discussed in a CRE article, and the By the Numbers feature on work-from-home statistics.
These are among the breadth of topics and information you will find in this September edition of In Business Magazine. I’m pleased to help bring it to you, and I hope you enjoy reading it.
Sincerely,
Juan Salgado
Chief Executive Officer
Phoenix IDA and PCDIC
With more than three decades of experience in community development, public finance, and affordable housing, Juan Salgado serves as the chief executive officer of the Phoenix IDA and the Phoenix Community Development & Investment Corporation. He is highly regarded both locally and nationally for developing creative financing structures that result in job creation, increased housing opportunities and significant community development in traditionally underserved markets and poor communities.
