Hospitality Relief Forum, Jobs Report, Raise the Wage Act Fails to Advance

The Illinois Restaurant Association continues to engage with local, state, and federal officials to help employers and employees address concerns about COVID-19.

Please see the below resources and information for your business - updated as of 5:20 p.m. on Friday, March 5.

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Next Week - Hospitality Forum with Local, State, Federal Leaders

Join the IRA on Friday, March 12 at 10:00 a.m. for a panel discussion moderated by Rep. Lamont Robinson, featuring Rep. Robin Kelly (IL-2), Chicago Treasurer Melissa Conyears-Ervin, Illinois Treasurer Michael Frerichs, and DCEO Director Sylvia Garcia.

The event will focus on various assistance programs available to restaurants, bars, hotels, and retailers from local, state, and federal governments.

Email RepRobinsonRSVP@gmail.com to register.

Raise the Wage Act Fails to Advance, Debate Continues on Relief Package

Earlier today, the the Senate voted to reject the Raise the Wage Act - which would raise the minimum wage to $15 and eliminate the tip credit - on a 58-42 vote.

Click here to read more from CBS News.

Negotiations in the Senate continue on the next COVID-19 relief package, which we fully expect will include the $25B Restaurant Revitalization Fund.

Click here to read the latest developments from CNN.

Restaurants Added Nearly 300k Jobs in February

For the first time in four months, restaurants recorded a sizable increase in staffing levels. Eating and drinking places added a net 285,900 jobs in February on a seasonally-adjusted basis, according to preliminary data from the Bureau of Labor Statistics (BLS).

Nearly a full year into the pandemic-induced economic crisis, restaurant staffing levels remain 2 million jobs – or 16% – below pre-coronavirus levels. Although some operators foresee a normalizing of business conditions during the next several months, the time horizon for a recovery in the restaurant workforce will be significantly longer.

The data continue to show that restaurants remain the hardest hit sector of the pandemic – and the gap is wide. The current employment shortfall of 2 million restaurant jobs is nearly three times larger than the next closest private industry: the arts, entertainment and recreation sector is 774,300 jobs below its pre-coronavirus level.

Click here to read more from the National Restaurant Association.

Cleveland Ave Launches $70M Fund to Support Chicago Small Businesses

IRA member Cleveland Avenue, a food innovation-focused venture capital firm, has launched a new $70 million fund that will invest in Chicago companies owned by Black, Latinx and women entrepreneurs.

The fund, dubbed the Cleveland Avenue State Treasurer Urban Success Initiative (CAST US), was partly raised through a $16 million investment from the Illinois Growth and Innovation Fund, and a $10 million commitment from the John D. and Catherine T. MacArthur Foundation, Benefit Chicago, The Chicago Community Trust, Calvert Impact Capital and other undisclosed impact investors.

The CAST US fund will focus on providing capital to underrepresented founders in Chicago’s South and West Side neighborhoods as these groups often to struggle to raise funding compared to their white counterparts. In the Chicagoland area, Black and Latinx entrepreneurs have 80% of their equity capital needs going unmet compared to 46% of white business owners, according to a recent study by the consulting firm Next Street.

Click here to read more from Chicago Business Journal.

Next Week - Managing Taxes, Finances, and Cash Flow Webinar

As spring and tax season approach, learn ideas to better manage your finances from accounting and legal experts.

Join the IRA and panelists from Plante Moran and Taft LawThursday, March 11 at 10:00 a.m. for a webinar providing expert ideas and guidance for your taxes and finances, as well as info on the Employee Retention Tax Credit (ERTC) and more.

Este seminario web se transmitirá en inglés y español.

This webinar is being provided in partnership with Cook County Board President Toni Preckwinkle and the Cook County Community Recovery Initiative.

Click here to register.

City of Chicago Neighborhood Opportunity Fund Applications Reopen March 8

Applications will reopen on Monday, March 8 for Neighborhood Opportunity Fund small business grants of up to $250,000 each. The Chicago Department of Planning and Development will also host a series of virtual information sessions on the program during March, and applications are due Friday, April 9.

The Neighborhood Opportunity Fund finances commercial and cultural projects in neighborhoods that lack private investment, using revenue generated from downtown development.

Information and application materials are available on the program’s website. 

Reminder - Cocktails to Go Regulations

In June 2020, the state of Illinois passed legislation to allow restaurants and bars to sell cocktails to go. Click here to read the regulations on cocktails to go from the ILCC.

As local municipalities may prohibit or further restrict the sales and delivery of “to go” mixed drinks/cocktails, retailers should contact the local liquor control commissioner to ensure compliance with local laws on cocktails to go.

Click here to review the city of Chicago's regulations on the sale of cocktails to go, including packaging, labeling, and delivery requirements.