This one-hour webinar explores how the recently passed American Rescue Plan Act law will affect members of the commercial AV industry, including integrators, end-user venues, manufacturers and others. Panelist participants include Peter Hansen, Economic Analyst, AVIXA; Troy Jensen, Senior Manager, Enterprise Accounts, Shure; and Meredith Boylan, Partner, Venable LLP.
The webinar begins with a high-level overview of the American Rescue Plan Act. So, the panelists explain what, exactly, the law entails. Many Americans are aware of their own personal benefits (for example, survival checks), but the legislation’s massive $1.9 trillion size means the number of provisions is massive. The panelists discuss the hundreds of billions of dollars being allocated to state and local governments, for example. As part of that discussion, they argue that those funds might filter down to venue-based vertical markets.
Speaking of verticals, all panelists agree that education and live events will be the biggest beneficiaries of the American Rescue Plan Act. For example, the law earmarks tens of billions of dollars for education. Although many of those dollars are for things like improved school ventilation systems, others will be used to stand up remote classrooms and hybrid-learning capabilities. Therefore, the panelists said that AV integrators can benefit by being in regular contact with higher-education and K-12 clients.
Likewise, live-events venues will benefit from the American Rescue Plan Act. One major vehicle for assisting struggling venues is the Save Our Stages Act, which helps a diverse array of attractions. Since the pandemic’s onset, such venues have seen visitors numbers decline dramatically. The panelists discuss some of the qualification metrics to benefit from Save Our Stages funding.
The conversation concludes with a macroeconomic analysis of how the American Rescue Plan Act will affect economic growth broadly. For example, will it overheat the economy? Will it precipitate inflation? Will it cause the commercial AV industry to achieve true growth (that is, growth above prior heights) during 2021? The panelists dive into those topics, and they allay some concerns about possible unanticipated negative consequences.
This webinar is presented by Sound & Communications. Shure is the webinar’s sponsor.
Watch our webinar in its entirety and learn how the American Rescue Plan Act impacts AV:
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