Survey says Grand Valley’s economy poised for quick recovery
According to a new survey, a quick economic recovery from the effects of the Corona-virus may be in store for the grand Valley.
GRAND JUNCTION, Colo. (KKCO) -CMU and Grand Junction Economic Partnership (GJEP) released results of a valley-wide survey showing the impact of COVID-19 on local businesses in Mesa County.
“I don’t know anybody that’s had any economic hardships… like at all.” said Chris Brown, owner of Brown’s Cycles.
The findings indicate that the County experienced a relatively low impact from the pandemic. Suggesting something rare when compared to the rest of the state and even the country.
Chris Brown stated, “I believe it’s in pockets around the US, it’s just not here. It’s just not.”
More than half of businesses reported about a 25% loss in profits because of Covid-19.
“I think it’s a lot busier than it has been lately, than it was a year ago today. Now that school’s started it has slowed down a little bit, but that’s normal for us.” said Tricia Ramsey, a Sales Associate at Pollux.
Nearly 70% of businesses got federal assistance through the Payroll Protection Program, while about a quarter didn’t apply for any type of assistance at all.
“If anything it seems like people are throwing money all over the place. Building houses, doing remodels, going outside and dying to be on vacation. It’s crazy.” said Chris Brown.
All of this suggests Grand Junction will bounce back quicker than most cities in the country, but only time will be able to tell for sure.
The survey also shows that sectors hit the hardest, considered a “catastrophic” hit, were food services and recreational business.
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