Economic Impact Survey
Below you will find the results and conclusions of two Economic Impact surveys conducted among Summit County businesses. The first survey was conducted in April 2020 and asked businesses to look at the estimated revenue loss for the months of March, April and May. There were 246 responses. The estimated economic impact from the COVID -19 pandemic on the Summit County economy for March, April and May was estimated at $321 million.
The second survey was conducted from July 7-18, 2020 and asked business owners to look at the estimated revenue loss for June, July and August. There were 158 responses. The estimated economic impact from COVID on the Summit County economy for June- August was estimated at $143 million. We dug a bit deeper into the changes in workforce and staffing levels, which is a big issue facing employees and employers.
These are huge numbers with an estimated $464 million in lost revenue for our community, over a six month period. While frightening, these results can help us plan against the future. Feel free to contact me with questions or comments.
Co.Starters ReBuild Program