March 3, 2021– Mount Pleasant Economic Corporation received the 2020 Commitment to Community Award during the Annual State of the Economy. This award recognizes MPEDC’s support to small businesses and the utility support program.
Guest speakers of this event: Judge Brian Lee (Titus County), Ed Thatcher (City of Mount Pleasant), and Nathan Tafoya (Mount Pleasant EDC) provided important local updates.
The Mount Vernon, TX Lowe’s Distribution Center, located 10 miles from Mount Pleasant, TX, is creating 315 new jobs, taking the total Full-Time Equivalent employment to 1,300+. The jobs are a night shift addition to increase operational capacity by 28%. The new overnight shift is a 12-hour, 3-day work week of 36 hours, but pays for 40 hours with a minimum wage of $17.32. “We want to be the best night shift in town,” Tracey Reed, Lowe’s DC General Manager, told MPEDC. We are excited for a bright 2021.
That’s a wrap! Super excited to announce Northeast Texas Community College has started a Professional Driving Academy to output a #CDL-holding #workforce. In addition to our jointly-run Industrial Technology Training Center (robotics, plant maintenance, CNC, etc), Northeast Texas Community College is tackling the logistics industry. Thanks team!
As a side note, Mount Pleasant Economic Development Corporation also partnered with NTCC earlier in 2020, providing a separate $50,000 in equipment/training funds to the college to match a generous grant award from the Texas Workforce Commission. Need an industrial training facility? Our community’s facility is award-winning & local manufacturer Priefert Rodeo & Ranch Equipment was awarded $546,000 in April 2019 to train 300 of its 850 employees. We do things big in MP. We do things right. And we do it together. Wanna join us?!
For more information, call 903-434-8330 or email continuinged@ntcc.edu
Northeast Texas Small Business Development Center Director, Tim Wilson, provides key provisions from the legislation include:
$284 billion for another round of forgivable PPP loans.
PPP borrowers who already received a loan may obtain a second draw if they have 300 or fewer employees, have used or will use the full amount of their first PPP loan, and can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019.
First time PPP borrowers may obtain a PPP loan under the original terms in the CARES Act.
60% of PPP loans must be used to cover payroll.
One-page borrower certification for PPP loans less than $150,000. The SBA must create the simplified application form within 24 days of the bill’s enactment and may not require additional materials unless necessary to substantiate revenue loss requirements or satisfy relevant statutory or regulatory requirements.
Expands PPP forgiveness to include some worker protection and facility modification expenditures to comply with COVID-19 federal health and safety guidelines.
Income exclusion and expense deductions for payments made on Section 7(a) SBA loans, including PPP.
Borrowers with eligible SBA loans will receive an additional 1112 payments for three months of principal and interest starting in February 2021. The payments are capped at $9,000 per month.
The $10,000 EIDL advance will no longer be deducted from a borrower’s forgiveness amount. The SBA will issue rules to ensure that borrowers are made whole if they received forgiveness and the EIDL advance was deducted from that amount
Expenses paid with forgiven PPP loan proceeds are tax-deductible. This overrides previous IRS guidance disallowing deductions for these eligible expenses.
Click here to check out the latest information on federal resources available to small businesses, including a detailed summary of the COVID-19 Emergency Relief Package.
Memories that last for a lifetime! Come visit our beautiful downtown at Mount Pleasant, TX-One Location, All the Advantages. 
Thank you, City of Mount Pleasant for all that you do.
Congratulations to our own Janeth Moreno for completing the Texas Basic Economic Development Course held annually by the Texas Economic Development Council! MPEDC proudly and rigorously strives for organizational excellence as we serve the Mount Pleasant community. #ContinuousImprovement
The Basic Economic Development Course (BEDC) provides a solid foundation for entry-level economic development practitioners and staff. It also serves as the equivalent to the International Economic Development Council’s (IEDC) “Introduction to Economic Development” course in preparation for the IEDC Certification exam. Accreditation by IEDC ensures that each state’s BEDC covers subject areas determined to be the core building blocks in any economic development organization.
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302 North Jefferson Avenue, Suite 140 • Mount Pleasant, Texas 75455
Phone
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