COVID Relief Program Averted Layoffs
The COVID-19 pandemic, which started in the first quarter of 2020, resulted in an unprecedented downturn in the aerospace industry. To persevere through this challenging time and maintain our greatest asset – our people – CMI applied for and was granted financial support through various programs offered under the CARES Act and subsequently the American Rescue Plan Act. These programs, which included the PPP loan program and Employee Retention Credit program (ERC), were designed to help businesses like ours retain workforces and avoid significant layoffs during the downturn caused by the pandemic. However, ERC funding was withheld by the IRS for over a year after it was awarded.
In 2022, CMI leadership reached out to Representative Joe Courtney to assist in collecting the overdue ERC funding from the IRS. With his office’s help, our company was able to recover over $1 million under this program. We were honored to have Rep. Courtney tour our facility on August 5, 2022.
“We had been waiting over a year for the funding. Representative Courtney’s office helped to break that funding free and get us paid.”
– Robert Friedland, CMI President and CEO.
