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Surety Industry Launches Contractor Bonding Education & Mentoring Program

SFAA

The Surety & Fidelity Association of America (SFAA) and the National Association of Surety Bond Producers (NASBP) are pleased to announce they have jointly developed and launched the surety industry’s new Contractor Bonding Education & Mentoring Program. This free program helps small, new, emerging, minority-owned and other disadvantaged contractors learn how to qualify for construction surety bonds, thereby expanding their business opportunities and providing the services and benefits of these bonds. The Contractor Bonding Education & Mentoring Program includes two components: a set of eLearning modules available online 24/7, which can be taken on demand at the learner’s pace, and an optional mentor program with industry professionals who can provide practical advice and recommendations for the mentee to follow in their efforts to achieve bonding. “The surety industry has a longstanding commitment to providing resources and programs to new and emerging minority contractors. The Contractor Bonding Education & Mentoring Program was specifically designed by industry experts to provide the education needed to understand the bond qualification process,” said Lee Covington, president and CEO of SFAA. “By combining the modernized eLearning platform with a mentoring component, minority, and other contractors now have the opportunity to learn firsthand from professionals inside the industry, gaining valuable insight into the bonding qualification process to expand their business opportunities.” “Many small construction businesses simply are unaware of the value that surety relationships can bring to their business,” related Mark McCallum, CEO of NASBP. “This state-of-the-art educational program conveys those advantages and empowers them with knowledge.” SFAA and NASBP have been joined by several leading construction trade associations to spread awareness of the new educational opportunity including the Associated Builders and Contractors (ABC), the Associated General Contractors of America (AGC), and the National Association of Minority Contractors (NAMC). “We look forward to making this program available to our AGC members, specifically underserved or disadvantaged contractors,” said Stephen E. Sandherr, chief executive officer of the Associated General Contractors of America. “It provides a great foundation on the bonding application and qualification process and will help these contractors expand into new markets.” “The new Contractor Bonding Education & Mentoring Program is a valuable resource for underrepresented contractors,” said Michael Bellaman, president and CEO of Associated Building and Contractors. “The mentoring component is a critical piece, as these contractors can utilize the experience and expertise of professionals in the surety industry to gain practical knowledge about qualifying for a bond.” For more information about the Contractor Bonding Education & Mentoring Program, or to register, visit www.contractorbondinged.org. ### The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 425 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org. Founded in 1942, the National Association of Surety Bond Producers (NASBP) is the association of and resource for surety bond producers and allied professionals. NASBP members specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds. https://www.nasbp.org Contact Details SFAA Peter Roth - Vice President – Strategic Communications, Marketing & Research +1 703-401-0676 proth@surety.org Company Website https://surety.org/

January 13, 2022 09:55 AM Eastern Standard Time

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Velocity Global and Icelantic’s Winter on the Rocks gives respite and relief to Marshall Fire victims

Velocity Global

$30,000 donation to relief fund VIP tickets to Red Rocks for those affected by the fire Velocity Global has partnered with Icelantic’s Winter on the Rocks to donate $30,0000 to the Boulder County Wildfire Fund to assist with recovery from the Marshall Fire, as well as a special VIP Red Rocks experience for those affected by the worst wildfire in Colorado history. “Our hearts go out to our neighbors who lost all of their possessions and precious life in the blink of an eye,” said Ben Wright, Velocity Global founder and CEO. “Money helps in times like this, but so does a brief escape from the realities of recovery. We chatted with our partners at Icelantic’s Winter on the Rocks to find a way to provide that getaway, even for just a night at Red Rocks.” Denver-based Velocity Global, the leading platform for global talent solutions, is a presenting sponsor of Icelantic’s Winter on the Rocks, a partnership between Icelantic Skis, The Pinecone Project, and AEG Presents Rocky Mountain. The group is donating VIP tickets to those affected by the Marshall Fire. “Music and community can help heal and we’re thrilled to be in a position to offer both to those impacted by this tragedy,” said Sam Warren, director and founder of Winter on the Rocks. “We’re asking anyone who knows someone affected to let us know and we’ll give them a night at Red Rocks.” The only winter concert at Red Rocks is celebrating its 10-year anniversary this year with Diplo, Sofi Tukker, Talib Kweli, DJ Matt Cassidy, and JACOBY on January 28th. Velocity Global will distribute tickets to those affected through its social media accounts on LinkedIn, Twitter, and Instagram starting today. About Velocity Global Velocity Global accelerates the future of work beyond borders. Its global work platform simplifies the employer and employee experience to employ any talent anywhere with just a click through its proprietary cloud-based workforce management technology, backed by personalized expertise and unmatched global scale. As the largest global Employer of Record (also known as International PEO) in 185 countries and all 50 United States, more than 1,000 brands rely on Velocity Global to build global teams without the cost or complexity of setting up foreign legal entities or state registrations. The company offers additional services including Independent Contractor Compliance to assess a workforce, and Agent of Record (AoR) to streamline payments to contractors. Velocity Global was named a “Leader” in Global Employer of Record services by prominent analyst firm NelsonHall. Founded in 2014, the company has hundreds of employees across six continents. For more information visit velocityglobal.com. Contact Details Velocity Global John Hall +1 720-650-4348 news@velocityglobal.com Company Website https://velocityglobal.com/

January 13, 2022 07:01 AM Mountain Standard Time

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Volatus Aerospace accelerates its Public Safety Initiative with the addition of advanced UAV Mobile Command Units

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (“Volatus”) is pleased to announce that it has partnered with Illinois-based DRAXXON to market and sell fully integrated mobile command centers configured to support drone operations in a public safety environment. Demonstrations of these Mobile Command Centers and various public safety drones will provide an opportunity for first responders to evaluate customized solutions to meet their tactical requirements. The Mobile Command Center enhances Volatus’ integrated solutions for public safety agencies. “The public safety market is rapidly adopting the use of tactical drones and the application of Drones as First Responder. We are committed to being a leading provider of turnkey solutions in this sector,” said Glen Lynch, Volatus CEO. “Mobile Command Centers provide all the components of a rapid response unit including drone communications, flight operations, and live data feeds. DRAXXON is a leading manufacturer of high-quality, specialized vehicles designed for multi-mission capabilities. Innovation and quality make them a perfect partner for our public safety initiative.” DRAXXON CEO Brock Wilkerson remarked, “Partnering with Volatus and integrating their various drones, mission control systems, and intelligence offerings with our high quality, specialized vehicle solutions, results in powerful resources for first responders.” According to Markets&Markets in their 2021 report ‘Unmanned Aerial Vehicle (UAV) Market,’ the global government and law enforcement market is forecast at US$5.72B by 2026 growing at a CAGR of 17.1%. The public safety market is a targeted growth sector for Volatus. “Delivery of the first vehicle is scheduled for January 25 th and our North American roadshow will begin in March," said Dean Attridge, VP of Solutions Engineering. "We will be showcasing our fully integrated solution at the International Security Conference & Exhibition (ISC) West tradeshow.” About Volatus Aerospace: Volatus Aerospace is a leading provider of integrated drone solutions. Operating a vast pilot network with offices throughout Canada, the United States, and South America, Volatus provides enterprise and industrial solutions including training, equipment sales & support, imaging & inspection services, drone cargo solutions, design & manufacture, and research & development. With a rapidly expanding network of strategic partnerships and acquisitions, Volatus is driving the full potential of UAV technologies around the world and shaping the industry of tomorrow. Forward-Looking Statement: This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Contact Details Volatus Aerospace Corp. Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

January 12, 2022 07:00 PM Eastern Standard Time

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American Home Benefit Announces New Strategic Partnership

American Home Benefit

It is with great excitement that American Home Benefit (AHB) announces a partnership with MoveEasy; a concierge for life service available through an online platform, a mobile app, voice services through Alexa & Google Home, and includes a dedicated personal assistant that helps your clients complete all of their moving and home management tasks in one place including mortgage, insurance, moving, home warranty, utilities, internet, home security, change of address and more. Move Easy and American Home Benefit share a common passion for client care and customer services. Both were born out of the innate belief that the process of moving should be enjoyable rather than complicated and overwhelming. "American Home Benefit works every day to bring a seamless and transparent suite of real estate services to companies and their employees throughout the country; partnering with Move Easy was an absolute win for us in our continued pursuit to make the real estate process more enjoyable." said Andy Sachs, founder and principal of AHB. MoveEasy's VP of Strategic Partnerships, Travis Bailey said: “MoveEasy couldn’t be happier to work with American Home Benefit, and this partnership comes at a very opportune time. In September we launched our completely redesigned User Interface, and we fully expect it to take the client experience to the next level while making it simpler for American Home Benefit clients to move and maintain their homes. Enabling clients the ability to access anything they may need as a home owner, such as finding a mortgage provider, setting up home security, utilities, internet, or finding a reputable moving service.” AHB can now offer a more robust and well-rounded offering. Mr. Bailey went on to say: “This new user interface marks the beginning of our home ownership lifetime concierge platform. American Home Benefit clients will have access to the online platform, mobile app, Alexa & Google Home integration, as well as their dedicated concierge service for anything they might need as long as they are homeowners. Furthermore, this fall we will be launching our homeownership dashboard that will include a wealth of new features for all homeowners.” Mr. Sachs added "that this partnership is the next logical step in the AHB's evolution to serve employee's evolving and continuous real estate needs from purchase through ownership and eventual sale." American Home Benefit is the no-cost benefit that connects employees to a growing network of trusted service providers that can turn stressful real estate transactions and ownership into wonderful experiences. Contact Details American Home Benefit Andy Sachs +1 475-275-0085 asachs@americanhomebenefit.com Company Website https://americanhomebenefit.com/

January 12, 2022 11:36 AM Eastern Standard Time

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Velocity Global welcomes LPGA Tour Stars Lexi Thompson and Albane Valenzuela as brand ambassadors

Velocity Global

Velocity Globa l, the leading provider of global talent solutions, welcomed 11-time LPGA Tour champion, Lexi Thompson, and former Stanford collegiate standout and rising LPGA star, Albane Valenzuela, as global golf brand ambassadors. Both 2021 Olympians will display the Velocity Global logo on their hats throughout the 2022 and 2023 seasons. Thompson and Valenzuela join six-time PGA TOUR champion and 2021 DP World Tour BMW PGA champion, Billy Horschel, and four-time Advocates Pro Golf Association (APGA) Tour champion, Kevin Hall, as global brand ambassadors for Velocity Global. “Studies are backed by stories from our clients and employees on how important ‘work anywhere’ is to women, and it was time for us to welcome two of the best professionals in the world of golf to help us tell that story,” said Rob Wellner, Velocity Global chief revenue officer. “Lexi and Albane carry our message to a global audience that embraces the opportunity to work for anyone, anywhere. We can’t wait to support both of them as they compete around the world.” Thompson is one of the biggest stars on the LPGA Tour and across all of sports, and has been a top performer since she turned pro in 2010 at the age of 15. She owns 14 worldwide professional victories, including one major championship, and she is currently ranked 12th on the Rolex Rankings. She has represented the U.S.A. five times at the Solheim Cup and twice as an Olympian in Rio and Tokyo. She turned her passion for fitness and self-care into businesses as an entrepreneur with her LEXI Skin and LEXI Fitness brands. “I’m blessed to apply my talents all over the world, and that’s what Velocity Global makes possible for other professions,” said Thompson. “They help people work for anyone, anywhere around the world. And as an entrepreneur, I love their passion for helping businesses grow. Velocity Global is a perfect fit and I’m proud to represent them.” Valenzuela is truly a global citizen of the game as she was born in New York, moved to Mexico at a young age, and later grew up in Switzerland. Her father is from Mexico and her mother is from France, which led to her fluencies in English, French, Spanish, and German. She had a historic collegiate career at Stanford University where she competed in 11 major championships as an amateur, was the 2019 Pac-12 Golfer of the Year, and was a two-time runner-up in the U.S. Women’s Amateur. Albane turned pro in 2020 and represented Switzerland in the last two Olympic games. She uses her platform on the LPGA Tour to support her other passion, Alexis for Autism, a foundation established with and named after her brother that raises funds for associations, foundations, and medical research for autism. “I grew up in a family that knows what it means to be global citizens, and I found a partner in Velocity Global that aligns with that world view,” said Valenzuela. “Golf is truly a global sport. To achieve success, you must perform against anyone, anywhere. That’s exactly what Velocity Global enables for businesses and talent.” Thompson and Valenzuela begin their 2022 seasons at the Gainbridge LPGA at Boca Rio on January 27. About Velocity Global Velocity Global accelerates the future of work beyond borders. Its global work platform simplifies the employer and employee experience to employ any talent anywhere with just a click through its proprietary cloud-based workforce management technology, backed by personalized expertise and unmatched global scale. As the largest global Employer of Record (also known as International PEO) in 185 countries and all 50 United States, more than 1,000 brands rely on Velocity Global to build global teams without the cost or complexity of setting up foreign legal entities or state registrations. The company offers additional services including Independent Contractor Compliance to assess a workforce, and Agent of Record (AoR) to streamline payments to contractors. Velocity Global was named a “Leader” in Global Employer of Record services by prominent analyst firm NelsonHall. Founded in 2014, the company has hundreds of employees across six continents. For more information visit velocityglobal.com. Contact Details Velocity Global John Hall +1 720-650-4348 news@velocityglobal.com For Lexi Thompson Brett Falkoff, VP, Golf, GSE Worldwide bfalkoff@gseworldwide.com For Albane Valenzuela Jon Heaton, VP, Excel Sports Management jheaton@excelsm.com Company Website https://velocityglobal.com/

January 11, 2022 07:01 AM Mountain Standard Time

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Kenny Clark Grows Minuteman Press Printing Franchise in McKinney, Texas

Minuteman Press International Inc

Minuteman Press in McKinney, Texas is located at 1502 W. University Drive, Suite 111. Owner Kenny Clark has owned the local printing franchise since August 2014. Operating as an essential business over the past two years, Kenny has consistently grown his sales and helped other local businesses meet their ever-changing needs for custom design, print, and marketing services. Kenny says, “We have worked hard to serve our customers with anything they have needed over the past two years and that hard work has paid off. I was born and raised in Texas, and one thing I did was remain open. I went to work every single day because I wanted to be there to answer the phone when other businesses weren’t. If you could hear the relief in their voices when I answered the phone, you would understand just how huge that personal touch and human connection was at that time.” “I was fortunate enough to remain open as an essential business, and by being there for new and existing clients at a time where they needed me most, that really was a big key to growing our business. Today, I am stronger than I was before the pandemic, and our client base is stronger as well.” -Kenny Clark, owner, Minuteman Press franchise, McKinney, Texas. With eight years of business under his belt including two years of operating under unprecedented circumstances, Kenny is able to share his insights and keys to growth for Minuteman Press in McKinney. He says, “We have many products that are in high demand, and the key to our success is that we sell ourselves through our actions. We offer speed and service, and a job done right, no matter what our clients need.” He continues, “We offer custom graphic design services with fast turnaround, which then leads to fast production of banners, signs, blueprints, business cards and stationery, and anything our clients need or want to grow their business through increased brand awareness and visibility. Direct mail has also been a growth point for us.” Why direct mail? Kenny explains, “I find printing to be one of the absolute core essentials of any marketing strategy. More than ever, we see that there are thousands of emails that get lost in the shuffle and deleted. When you have something in your hand that you can physically hold and touch, you are more likely to take a closer look at it. Emails can get swallowed up by spam filters and deleted with one click, while direct mail has that unique ability to capture someone’s attention because it’s right in their hands.” “Right now, one of my biggest clients is doing direct mail campaigns with us more than any other types of products and services. They have found that direct mail really works for them, and that Minuteman Press is the perfect local partner to help them design, print, and deliver their messages to best reach their target audience.” -Kenny Clark When it comes to marketing his business, Kenny takes a multi-faceted approach. “I tell my team all the time, we don’t just get out there and market for the sake of marketing. I like to say, ‘We quote it to win it.’ We have really focused on marketing ourselves on speed and service, and direct conversations with our clients. We are not the cheapest printer in McKinney, Texas, but if you want and need the job done right, I am your guy.” Kenny has also taken advantage of the proprietary Minuteman Press FLEX software as well as the Internet marketing resources available to him. “We used the FLEX software all of the time when quoting jobs for clients, and it’s a valuable tool to make sure we are managing pricing and production correctly. Specifically, I have been using the CSSP function that helps me see how to properly price orders for quotes based on current pricing trends. A year and a half ago, I really started bolstering our Internet marketing, and that has really paid off as well in generating new business.” “The support from Minuteman Press International has been exactly what it was promised to be. My Regional Vice President Pete Scaglione and the local field team are there for me. When I call them, they will jump through hoops to help me out. If I email the IT team at World Headquarters with a question about the FLEX software or anything else I need, I always receive quick replies that contain precise, detailed answers. We all have the same mindset, and we are all in this together.” -Kenny Clark Prior to franchising with Minuteman Press, Kenny saw his job in the electronics industry take him traveling around the world. “I had a working background in electronics, manufacturing of circuit boards, and business development. Flying everywhere was getting really old really fast and I wanted to be there for my kids. Minuteman Press helped me do that.” When asked about additional reasons Kenny chose to buy Minuteman Press in McKinney, Kenny answers, “At the end of the day, the cost to buy a Minuteman Press franchise was reasonable and cost less than most other franchises. The majority of franchises have the philosophy of ‘the more you make, the more we take.’ Essentially, you are punished for having a successful franchise, but that is not the case with Minuteman Press International. Their royalty cap was the deciding factor for me in joining Minuteman. I am allowed to keep more of my well-earned money and invest it back into the business as I see fit.” Kenny continues, “The other thing that other people don’t realize is the benefit of having low turnover due to the fact that we hire skilled workers. I looked into the fast food industry, and there just seemed to be too much turnover due to the nature of the work as well as other headaches that would carry over into weekends such as staffing as well as food supply.” He adds, “Not having to worry about the business on weekends and having that freedom is huge. You can’t put a price on that.” For those who are researching businesses including Minuteman Press, Kenny’s advice is this: “Ask yourself if you see yourself running the business you are buying Also, are you willing to do the work? The biggest mistake people make is that they open the business and hope that clients will just walk through your doors and automatically come to you. If you don’t get out and market, if you aren’t hustling, you are not going to make it. You have to want it and follow the business model, get out there and go get it. All of your marketing efforts will come back to you and pay off. I can attest to that.” For more information about Minuteman Press in McKinney, Texas, visit their website: https://minuteman.com/us/locations/tx/mckinney. Learn more about #1 rated Minuteman Press franchise opportunities at https://minutemanpressfranchise.com. Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

January 10, 2022 10:00 AM Eastern Standard Time

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Selling a Printing Business Explainer Video for Print Shop Owners

Minuteman Press International Inc

Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

December 27, 2021 10:00 AM Eastern Standard Time

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Edcor earns “Honorable Mention” at 2021 CCW Excellence Awards

Edcor

Edcor captured an Honorable Mention in the Best in Class Contact Center category at the 2021 CCW Excellence Awards. The CCW Excellence Awards honor, recognize and promote individuals and teams who have made a commitment to driving superior contact center and customer experience performance across 15 categories. Customer Contact Week nominated Edcor in the 1-99 Seat class. The Best in Class Contact Center (1-99 Seats) awards the center that exhibits the internal commitment needed to deliver on the customer experience despite their size. The winner is evaluated based on their ability to: Promote a customer-centric culture and employee engagement Meet customers in the channel of their choice despite limited resources Hire, train, coach and retain a world class workforce Demonstrate exceptional performance metrics “Earning an honorable mention recognizes Edcor’s consistent effort to provide excellent service to its customers,” said Adrienne L. Way, Edcor Owner, President and CEO. “The constant push marked by the company’s customer experience team’s move into a state-of-the-art cloud call center in early 2021. This new center gave the team the tools to meet and exceed the metrics for the award.” Edcor was lauded by the judges for the uniqueness of its solution and its application. The new technology was supported by the USAN Contact Suite which provide a wholistic agent desktop experience bringing several tools into one and the SuccessKPI business analytics and call quality system. Combining these systems permitted the team to "take the pulse" of customers in real time and provide agents comprehensive feedback about their performance. Part of the focus on “real-time information” includes a five-question survey for customers. The responses are incorporated with other information to create a scorecard that provides same-day feedback about each agent’s performance. In turn, this information can be used to implement changes by the agent to improve their performance. Providing excellent service is only one component of the award. Companies are evaluated on the working environment for their employees. Edcor noted being a smaller company is a benefit when it comes to employee satisfaction and retention. “We rely on our small, family business like, work environment to be a recruiting tool. Our casual, yet professional work environment and less-than-study-corporate work policies provide us with some ability be sensitive to individual employee and employee family needs without jeopardizing the employee's job,” Way added. The ceremony took place Dec. 14 at Caesars Forum in Las Vegas. About Customer Contact Week Started in 1999 as Call Center Week, now Customer Contact Week, CCW is the world’s largest customer contact event series. For over 20 years, CCW serves more than 3,000 attendees annually ranging from customer titles of all types to the many professionals responsible for holistic customer experience design and delivery. CCW is brought to you by the Customer Management Practice — the Analyst, Advisor, and Industry Network for all things Customer Management. About Edcor Edcor, a certified woman-owned business, is the benchmark in education benefits administration. For 40 years, our customized service and software solutions have allowed clients to use education benefits programs, including tuition assistance and student loan assistance, for employee recruiting, retention and development. Additional information can be found at https://www.edcor.com/. ### Contact Details FireStarters Marketing Joseph Ranck +1 248-425-0409 jranck@firestartersmarketing.com Company Website https://www.edcor.com

December 21, 2021 08:00 AM Eastern Standard Time

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National Tax Policy Leaders Meet to Focus on New Markets Tax Credit

New Markets Tax Credit Coalition

WASHINGTON, D.C. (December 16, 2021) — Tax policy trends and economic recovery for underserved urban and rural communities were the focus at the New Markets Tax Credit (NMTC) Coalition annual NMTC Conference, held virtually yesterday. The event was attended by 300 industry professionals and policymakers and featured five members of Congress and CDFI Fund Director Jodi Harris as keynote speakers. Conference participants noted the need to pass legislation calling for the NMTC’s permanence as a key tax policy. Keynote speakers included Ways and Means Chairman Rep. Richard Neal (D-MA); Senate Republican Policy Committee Chairman Roy Blunt (R-MO); House Chief Deputy Whip Terri Sewell (D-AL); Senate Finance Committee members Ben Cardin (D-MD) and Mark Warner (D-VA); and CDFI Fund Director Jodie Harris. Panelists included congressional staff, NMTC board members and leadership, investors and economic development leaders, Treasury Department officials, and legal experts. Panels held discussions on the impact of the pandemic, the pending permanent extension of the Treasury Department program, changes to the Community Reinvestment Act and credit pricing, legislative hurdles, and the latest insights from the Treasury Department. “The amount of good that the New Markets Tax Credit has done in our communities – especially during this incredibly challenging time – cannot be overstated,” said Congressman Neal. “The types of projects that the program supports are exactly what we in the congress say that this country needs to ‘Build Back Better.’” Never in the twenty-year history of the NMTC has there been more support from policymakers. Over the last two years, Congress twice enacted legislation to significantly expand the Credit. In 2019, the NMTC was extended for one year (2020) with a 44 percent increase in allocation authority from $3.5 to $5 billion. December of the following year, Congress enacted a 5-year, $25 billion NMTC extension through 2025, the largest in the program's history. “Senator Cardin and I have been working on this together for a long time. We were able in the last year to get it extended for five years, and at a 5 billion dollar number,” said Senator Blunt, describing the five-year extension. “I think it’s proven its value,” he added. “Everything from the big new food bank in the Kansas City area to a health clinic at Warsaw near Truman Lake were built with the New Markets Tax Credit.” “Most important to me in Maryland, the New Markets Tax Credit has produced more than 34,000 jobs statewide and an investment of 3.6 billion dollars in capital across 93 individual projects,” said Senator Cardin. “Your work changes the lives of Marylanders and all Americans for the better in communities that need the most support.” The recent expansions of the program were only possible because of the significant support for the NMTC in both parties, in addition to Congressman Neal and Senators Blunt and Cardin. In the 116th Congress, nearly 200 members of Congress, evenly divided between Democrats and Republicans - took action in support of the NMTC, either by cosponsoring legislation expanding the Credit or by signing a letter in support of NMTC permanence. The arrival of the 117th Congress and the Biden administration has continued support for the NMTC program. The New Markets Tax Credit Extension Act of 2021 (HR 1321/S. 456) has amassed over 110 combined cosponsors from both parties. The Biden Administration's Fiscal Year 2022 tax proposals additionally included a permanent extension of the NMTC. “As the lead sponsor of the New Markets Tax Credit Extension Act, I have been fighting to expand this credit which is critically important for the economic development in underserved communities in my district,” said Representative Sewell. “By incentivizing private investment to spur economic growth, the New Market Tax Credit is one of the most powerful tools in our toolkit to revitalize urban and rural communities that need so much help across the country.” “I think that we all know that development in smaller communities in America continues to be a challenge,” said Senator Warner. “Hopefully that challenge is going to get a little easier now that we have finally provided the appropriate amount of broadband resources so that every rural community in America will have access to highspeed internet broadband, but we ought to combine that connectivity with the ability to utilize the very successful New Markets Tax Credit program.” Permanent extension of the New Markets Tax Credit is currently pending adoption within the Congressional Build Back Better legislation with all eyes on the Senate. “With more than two decades of bipartisan successes under our belt, we’re continuing our push to increase funds and to make the NMTC permanent,” said Bob Rapoza, NMTC Coalition spokesperson. “At a time when the economic frailty of our underserved communities has never been more apparent, we see a tremendous opportunity for our coalition to help create jobs, spread opportunity, and put America back on a solid financial footing, and we implore Congress to make it happen.” About New Markets Tax Credit Program The New Markets Tax Credit (NMTC) was enacted in 2000 in an effort to stimulate private investment and economic growth in low-income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, and sustain healthy local economies. Since its inception, the NMTC has generated more than one million jobs. Today due to NMTC, more than $115 billion is hard at work in underserved communities in all 50 states, the District of Columbia, and Puerto Rico. For more information, visit www.NMTCCoalition.org. About New Markets Tax Credit Program The New Markets Tax Credit (NMTC) was enacted in 2000 in an effort to stimulate private investment and economic growth in low-income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, and sustain healthy local economies. Since its inception, the NMTC has generated more than one million jobs. Today, due to the NMTC, nearly $110 billion is hard at work in underserved communities in all 50 states, the District of Columbia, and Puerto Rico. For more information, visit www.NMTCCoalition.org Contact Details Bob Rapoza +1 202-498-9921 bob@rapoza.org Company Website https://nmtccoalition.org/

December 16, 2021 12:09 PM Eastern Standard Time

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