 What exactly is “an inflection point”? It’s a phrase I’ve heard used recently, particularly as we’re facing issues that can transform us, such as racial reckoning, COVID-19 and, most recently, the Derek Chauvin trial. Greg Satell, in his article How Inflection Points Define the Future, “Throughout history, inflection points have defined the future…. Today, we are in the midst of a series of inflection points in what already was a time of enormous flux. We can’t predict the future but we can prepare for it.”
I tend to be a linear thinker: if something is growing, I expect it to grow. If something is declining I expect that to continue as well. By its very nature, an infection point interrupts that. Is a disruption of a pattern. Though we tend to look for patterns to understand the world around us, it is the disruption – rather than the continuity – that often has the biggest impact. Simply put, inflection points represent a change in trajectory.
From your perspective, what does that mean to you? Though Satell’s article is largely focused on technology, I find his logic applies more broadly. SO MUCH is changing right now, and the most important inflection points are often the ones we make ourselves through the choices we make. No future is inevitable. See you in the trenches. B 1. COVID-19 Minnesota’s 7-day positivity rate has gone from 6.2 to 5.3% this past week and 31% of the state is now fully vaccinated. The age group with the most infections is 20-29 year-olds and the age group with the most deaths remains people 80+ years old. Read more. 2. Advocacy In a maneuver not unexpected, the House on Thursday passed an omnibus tax bill that packaged strongly supported tax conformity legislation with strongly debated tax increases – holding needed PPP forgiveness and tax conformity hostage to a proposed 5th tax tier. Higher income tax rates for higher earners, recovering corporate profits from foreign tax shelters and providing tax exemptions for businesses and individuals who received federal aid during the pandemic: These are key elements of the omnibus tax bill narrowly passed by the House Thursday. The vote was 68-66 for HF991, sponsored by Rep. Paul Marquart (DFL-Dilworth). It now goes to the Senate, where Sen. Carla Nelson (R-Rochester) is the sponsor. The bill would create a new fifth-tier income tax rate of 11.15% on income above $1 million, or $500,000 for single filers. It’s estimated the change would bring in $303.6 million in fiscal year 2022, $564 million in the 2022-23 biennium. Among the refunds, aids and credits, the biggest difference maker on the budgetary bottom line would be creating a tax subtraction for unemployment benefits up to $10,200 for those with gross incomes under $150,000. It would apply only to tax year 2020, but would reduce state revenues by $259.7 million for the next biennium. The bill would conform to the tax provisions in five federal acts that have become law since December 2019, resulting in a loss to the state’s General Fund of $341.4 million in fiscal year 2022. Read more. Read more updates in our weekly Chamber Advocacy Update. 3. Economics Restaurant Revitalization Fund Training The SBA’s Minnesota District Office will be holding multiple webinars to help eligible restaurants, bars, and other qualifying businesses impacted by COVID-19 better understand the Restaurant Revitalization Fund. This program will provide eligible entities with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Some training is general, other is specialized for women-owned, small disadvantaged, veteran, Hmong, multi-lingual. Check here for more information and training dates. Some sessions start this week yet: Restaurant Revitalization Fund Training. The Minneapolis Fed’s latest survey results: On Friday, April 30, 9:00 to 9:30am, Ron Wirtz will host a 30-minute webinar to discuss broad survey findings. To register for FREE webinar: Minneapolis Fed survey results: Current business conditions webinar. 4. Cultivating Relationships Remembering a public servant for the ages Last week we read the many thoughtful acknowledgements of the loss of Walter Mondale. In Matt Kramer’s most recent e-newsletter, the UoM continues “to mourn the loss of Walter Mondale, U of M alumnus (’56), former vice president of the United States, and 1984 Democratic nominee for president. Mondale was a dedicated public servant and lifelong friend of the University of Minnesota, and our Law School building bears his name. Throughout his storied career, Mondale was an unpretentious yet forceful advocate. Read more about his life in stories from the Law School and the Humphrey School.” 5. Driving Progress The City of Saint Paul has launched a new website that's a one-stop shop for all of the public projects taking place in downtown – be sure to check it out. 6. Growing Leaders Simon Sinek posted this short video about building trusting teams while working remotely. It’s a good reminder that we need to stay connected and support one another: 7. Building Capacity Ramsey County’s top priority for its expected $108M in ARP funds is affordable housing. The first half of the county’s direct allocation will be available for use on May 10. The second half comes in 2022. I imagine many of you, like me, watched closing arguments on the Chauvin trail this morning. I am so grieved. Almost unbearable. How do we make sense of this? Today is historic. What happens after these closing arguments will characterize who we are and what we stand for.
This was a weekend of thinking and deep conversations for me. On Saturday I was listening to my favorite podcast as I organized my garage. I felt compelled to write down something the speaker, Greg Boyd, said: “Choices become habits. Habits develop our character. And our character becomes our destiny. We become the decisions we make. Whatever we do, we get good at doing. We become solidified. In the end, we choose good because it is our character. We aren’t merely people who choose love. We are loving people. It’s our identity.” Fast forward to a conversation I had with my son on Saturday evening. He is a 20-something young adult and college graduate, still trying to figure out his first steps in establishing a career. It’s scary stuff, and he doesn’t realize that this “bumping around in the dark” is part of the process. Indeed, it IS the work. He thinks he’s failing when, instead, he’s developing new habits. Growing. He’s inclined to retreat to what is comfortable, to a job he can easily understand, when he needs to push instead towards a career path with a future. He’s got to start building new habits. I shared with him Greg Boyd’s words and encouraged him: in order to build his character, a future he wants to solidify, he must begin the work. And beginning anything is painful. He must trust that stumbling isn’t failure; it’s part of the process. Context is everything. On Sunday morning, then, I was reading the paper. More upheaval, overly empowered anarchists creating chaos out of tragedy, businesses are on tenterhooks. My heart felt heavy with the loss, upheaval, unrest, fear. Paradoxically, I also thought about all the work being done by good people to make this a better, more equitable, more caring community. Some people are choosing to tear down, while others are choosing to invest, encourage, support, reimagine. And so I come full circle. I can choose too. Every day I am practicing new habits, advancing my thinking, my understanding. I can trust that the work we all are doing, though we, too, are “bumping around in the dark” at times, is building our collective character. And that character will solidify our shared future. Whatever we do, we can “get good at doing.” Let’s get good at doing community, inclusion, business development, youth investment, caring for one another. Each of us can be more than merely a person who chooses to do good (read: sometimes). We can BE good. So, in a word, persevere! See you in the trenches. B 1. COVID-19 Last week’s update:
Dan Huff, of MDH, provided his weekly update on COVID-19 spread: case numbers are not going in the right direction. We are doing an amazing job of vaccinations, but positivity rate is now at 7%, up from 3.5% a month ago. Case count is growing among young people. The variants seem to be especially impacting youth and teenagers. The ask from MDH: we are in a tenuous place, and we need time to complete vaccinations. Please hunker down for another 6 weeks or so, to give vaccinations time to change the tide. How are we doing regarding vaccinations? 2. Advocacy PPP conformity: Senate has passed PPP tax forgiveness legislation; House is choosing to wrap it up in an omnibus bill that includes the Democratic tax increase proposal. So one is being held hostage by the other…. While the rest of us wait. Have an opinion? Please take time to visit our website, find your state representative, and ask them to get this done – before tax day comes and goes. Read more updates in our weekly Chamber Advocacy Update. 3. Economics Today is the final day to add your input to the latest Minneapolis Fed survey, which closes at the end of the day today. March jobs report: Minnesota’s job recovery sped up in March with the addition of 21,600 jobs, pushing the state to its highest employment level thus far during the pandemic. We currently are at 4.2% unemployment rate, compared to 6.2% nationally (unemployment levels in Black community = 9%; Hispanic community = 7.7%). We lost 416K jobs since the pandemic began, have recovered approximately 225K. READ MORE COVID-19 SBA Economic Aid Office Hours Have questions about your options for economic aid from the SBA? Please join the Minnesota District Office for a COVID-19 Economic Aid Office Hours, on April 21 at 2 p.m. where we will review:
And, finally: “Death of the office? Not so fast. Read more. 4. Cultivating Relationships Here’s a thought for today: this past year has been isolating for so many of us. I don’t know about you, but my world has shrunk. A lot. I had coffee with a friend on Sunday that was really nice. I was reluctant to go, just because I tend to hibernate at home, but I’m glad I went. When I headed home again, I felt refreshed. So my challenge: if someone has been on your mind, take a chance and reach out. Invite him or her for coffee. Or a Zoom, if you prefer. Cultivate a new relationship. That person just may need to connect even more than you do! 5. Driving Progress The American Rescue Plan (ARP) is a once-in-a-generation, visionary reinvestment. How is St Paul thinking about how best to capitalize on this opportunity? Council President Brendmoen and Council Member Noecker wrote an article for Sunday’s St. Paul Pioneer Press article, sharing their thoughts. The City is thinking strategically about how to use it collaboratively, equitably, towards the most lasting impact, and – key, I think – without creating spending “tails.” Worth a read: Brendmoen, Noecker: There’s a lot of money coming St. Paul’s way. Here are guiding principles for spending it. 6. Growing Leaders Again, from Vistage (clearly, I like their stuff!): 6 traits every CEO should have in tough times and beyond. 7. Building Capacity The value proposition for chambers of commerce is stronger than ever. The St. Paul Area Chamber is committed to supporting and partnering with other chambers and business associations in service to the employer community. Through our WorkStream Consulting Services, we provide professional association management services, to share services/costs/resources – all to ensure the network of chambers continues to grow and support you. Please give us a call if we can help. We’d love to!  Into an already tense community comes another tragedy. Daunte Wright, a 20-year-old Black man, was killed on Sunday by police in Brooklyn Center, during a traffic stop. This before the 11th day of the Chauvin trial begins. Protesters later converged on the police station, and looters broke into several businesses at the Shingle Creek Crossing shopping center.
What words are we supposed to use to speak to this? My heart is gripped right now. Deep grief for the family, lots of unanswered questions. Words are inadequate. Between this and coming off of Cat’s funeral on Friday, it has sucked the energy out of us. We weren’t ready for that loss, not ready for yesterday’s loss. I’m reminded of our March 2020 membership meeting, “Our Hidden Figures.” Dr. Reatha Clark King, hearkening back to the 1960s and 1970s, said (and I’m paraphrasing), “the streets were burning… and I had to go to work.” The juxtaposition is paralyzing. So I sat down for a moment of quiet this morning, to ask myself: ok, what DO I know right now? And I talked with our team. I do know is that our place now is not to judge or determine. I do know that now IS the time for humanity and acknowledging. We must point ourselves to the complexity of the times. Never before has there been so much volatility and unrest on so many fronts. Domestic violence, shootings, homelessness, and poverty at numbers unparalleled. So much going on. We’ve been locked in, we’ve experienced loss, many of us have felt fear – even desperation. I do know that we must put down fear, anger, disrespect, even our opinions… this goes beyond our professional lives to our very humanity. We must, somehow, cut through the fear and look up. There is so much good to be had, even in the midst of so much tragedy. We must demand of ourselves that we do better. Not quite sure what that looks like, but I’m working on it. See you in the trenches. B 1. COVID-19 Latest update (and application) from the SBA on its Shuttered Venue Operators Grant (SVOG) Program. Update on vaccinations: Friday saw another record rate of vaccinations in Minnesota. More than 3 million doses have been given thus far. You’ve perhaps seen or heard---Pfizer-BioNTech has asked the FDA to extend authorization of the vaccine to kids aged 12-15. That means the authorization could be in hand in just 3-4 weeks. (Dosage is the same as in adults, so no reason kids can't start getting vaccinated right after). Thus far, the state has identified 1500+ cases of the UK variant, estimated at being responsible for more than 50% of the new cases. 2. Advocacy Looking for a summary of where big issues stand at the Minnesota Legislature? The third committee deadline was this past Friday, April 9. See more here. Ahead, the House Ways and Means Committee and Senate Finance Committee will be reviewing budget bills to pass onto their respective floors. With the May 17 deadline approaching, lots still ahead on a more than $50 billion two-year state budget and several other tax/policy issues. For context: the state currently is operating on a $48.3 billion budget. The governor’s revised budget proposal spends $52.3 billion. Read more updates in our weekly Chamber Advocacy Update. 3. Economics Are we ready for $2.25 trillion 8-year American Jobs Plan? This plan aims to be a “once-in-a-generation investment” will constitute an annual approximately 1% of the GDP over the eight-year period. The Plan is the first of a two-part recovery effort. The second part is set to focus on childcare, healthcare, and education, and the President will announce its details later in April. The American Jobs Plan employs a massive tax increase on businesses to pay for it (emphasis added): "Alongside his American Jobs Plan, President Biden is releasing a Made in America Tax Plan to make sure corporations pay their fair share in taxes and encourage job creation at home…. President Biden believes that profitable corporations should not be able to get away with paying little or no tax by shifting jobs and profits overseas. President Biden’s plan will reward investment at home, stop profit shifting, and ensure other nations won’t gain a competitive edge by becoming tax havens." On Sunday night, the Federal Reserve Chair Jerome Powell gave a good interview on 60 Minutes stating that the US economy is at an “inflection point”. 4. Cultivating Relationships These Twin Cities Black-owned businesses will be featured in Deluxe’s 2021 Small Business Revolution TV Series. Saint Paul:
Minneapolis:
5. Driving Progress Great news last week. The U.S. EDA has approved GREATER MSP’s application for a $470,000 EDA investment for the Regional Supply Chain Resiliency and Diversity Strategy Project. On March 27, 2020, Congress enacted the CARES Act, which appropriated $1.5 billion in supplemental funds to EDA to “prevent, prepare for, and respond to coronavirus”. Regional eligibility for this funding (per U.S. EDA guidelines) was made possible by Met Council adoption in August 2020 of the Regional Economic Framework, a comprehensive economic development strategy developed in partnership by Met Council, GREATER MSP, and the Center for Economic Inclusion. Your Chamber is one of the organizations that supported development of the application and is positioned to contribute to and benefit from the development of this regional-scale project. 6. Growing Leaders Are you a servant leader? And what does that mean, anyway? How do you grow your business by serving people? Can you build a legacy by investing in others? It IS possible to succeed in your own career path while deeply valuing the people and customers around you. Worth a read to find out more here. 7. Building Capacity We are delighted to introduce our latest member to the team: Sherryln Thompson, our new Manager of Strategic Initiatives, joins us today, April 12. Sherryln will be the new Administrator for the Minnesota Black Chamber of Commerce, housed here at the St. Paul Area Chamber. Welcome Sherryln!
1. COVID-19 Latest update from MDH: we are experiencing the “Tale of Two Cities” regarding the pandemic. Minnesota is #1 in the nation for distribution of vaccines given, now delivering 54K doses/day. As of Thursday, 18.5% of the state’s population has completed their vaccine series (including over 80% of the 65+ population). Conversely, case growth is accelerating again, mostly due to the variants that bring with them increased virulence and transmissibility. Specifically for the restaurant/food service industry: In an effort to convey how important our food service industry is and to bring back workers safely, Governor Walz has directed his administration to launch an outreach campaign to members of the food service industry. The goal is to make sure food service workers are connected to the resources they need to get vaccinated. On Tuesday, April 6, the state is launching Food Service Week of Action. During the week, the Administration will collaborate with our Food Service Industry Champions to drive food service employees to the COVID-19 Vaccine Connector. The goal of the Food Service week is to drive vaccine participation and connect food service employees with the resources they need to get signed up for a vaccine. 2. Advocacy Last week our PA team convened two Issue Forums bringing together mayors and city staff from St. Paul and Maplewood with business owners/operators. The forums promoted the "boots on the ground" expertise of our members to inform ways that upcoming federal funds could be used by cities to support business recovery. If you have an idea or would like to provide input, connect with Shannon or John. Read more updates in our weekly Chamber Advocacy Update. 3. Economics The Paycheck Protection Program has been extended through May 31, 2021. President Joe Biden signed the PPP Extension Act of 2021 into law, extending the Paycheck Protection Program an additional two months to May 31, 2021, and then providing an additional 30-day period for the SBA to process applications that are still pending. Read more here. American Rescue Plan Act - Starting Wednesday, the SBA is hosting a series of meetings to share updates on the PPP and other small business relief programs under the American Rescue Plan and PPP Extension Acts. The events include the opportunity to ask questions. Events are scheduled for April 7 at 10:00 am, April 15 at 2:00 pm, April 21 at 10:00 am and April 29 at 3:00 pm. For more information and to register, connect with the Minnesota District Office. 4. Cultivating Relationships We are celebrating with Hamernick’s Interior Solutions, celebrating 75 years in business! Please enjoy this Monthly Stakeholder Report for the Saint Paul Restaurant Resiliency Program. Restaurants are making wonderful progress, and stakeholders are pitching in! You can learn more about #DineSaintPaul on page 21 as well. Check out the Family Restaurant Package. This document is packed full of resources fit for family-owned restaurants. 5. Driving Progress The ROI of DEI: Still Much Work To Do – March 2021. The data is absolutely compelling that diversity and inclusion positively impact organizational performance. 6. Growing Leaders What have the challenges of the past year brought out in your leadership? Would your employees say that you lead, manage and motive people in a way that keeps them inspired to contribute to your organization’s mission? Take a look at these 8 ways to tell if you are a boss or a true leader to get some insight into these questions and more. 7. Building Capacity A Link to the Ramsey County Economic Competitiveness and Inclusion Plan. |
|
Address:
401 Robert St. N., Suite 150 St. Paul, MN 55101 |
Office Hours:
Monday: 9AM–4PM (Lobby Closed) Tuesday: 9AM–4PM Wednesday: 9AM–4PM Thursday: 9AM–4PM Friday: 9AM–4PM (Lobby Closed) |
Get weekly news on local businesses, events, offerings and more.
|
|
Board Member Login
|
©2022 St. Paul Area Chamber. All Rights Reserved.
|