$5 million earmarked to assist businesses disrupted by coronavirus

By Cameron Sheppard | WNPA News Service

  • Overseas ports closing hit companies that depend on international shipping

A last minute amendment (SB 6168 Amendment 1180) to the senate Democratic Caucus supplemental operating budget earmarks $5 million to help businesses negatively impacted by international responses to the coronavirus outbreak overseas.

Businesses like Cosmo Specialty Fibers, a textile producer that does 97 percent of its business with companies in Asia, have been disrupted by port closures intended to stop the spread of the disease.

“This is a local business that has thrived despite disruptive tariff and trade wars, pays its employees strong wages, and has robust potential to expand, but it’s been thrown for a loop,” said Senator Dean Takko, D-Longview, in a written statement. Takko sponsored the amendment.

Companies will be able request assistance funds from the state’s strategic reserve account to promote economic development, which is funded by a third of all unclaimed lottery money, according to a release from the Senate Democrats

The operating budget had already provided $2 million for the account, much of which was already spoken for. Budget writers added $2 million in new funds on top of that, and the $3 million in Takko’s amendment means a total of $5 million in new funds.

The budget was approved by the Senate after a 33-16 vote on Thursday, Feb. 27.

Mario Lotmore

Mario Lotmore is originally from The Bahamas and for the last seven years has called Mukilteo, WA his home. Having lived in every region of the United States has exposed him to various cultures, people, and approaches to life. Lotmore created the Lynnwood Times to represent the character of a diverse and growing Lynnwood. The launching of the city’s free community newspaper will only help bring neighborhoods together. Lotmore was an industrial engineer by trade and proven success implementing and managing lean accountable processes and policies within his eighteen years of operations excellence, strategic development, and project management in the aerospace, manufacturing, and banking industries. Over his career he has saved and created hundreds of union and non-union jobs. Lotmore is the President of a Homeowner Association, an active Science Technology Engineering and Mathematics volunteer in his community, and former Boeing 747 Diversity Council leader. Mario’s talent is finding “that recipe” of shared destiny to effectively improve the quality of life for others.

Mario Lotmore has 558 posts and counting. See all posts by Mario Lotmore

Leave a Reply

Your email address will not be published. Required fields are marked *