political perspective Economic Impacts of COVID-19 in Bay County by: Brandi DeRuiter, VP of Governmental Affairs, Bay County Chamber of Commerce
Florida is ranked the 4th most vulnerable state to economic shock
ed through the Federal Government CAREs Act; and have hosted
from the pandemic according to Oxford economics. Tourism, travel
virtual EDA investor meetings and existing industry meetings that
and the number of retirees attracted to the area all play a significant
featured experts sharing advice on how to financially navigate thru
role.
this pandemic. Fortunately, all affiliated major manufacturers have
Florida’s travel and tourism largely funds the state’s budget through sales taxes. Without the normal influx of visitors, sales tax have been greatly impacted by this pandemic. Impacts from COVID-19 have not only severely affected lodging and restaurants, but has reached into many other industry sectors. However, Bay County is no stranger to strength and resilience. Those characteristics have played an important role in our recovery as we reopen and are demonstrated below.
Bay EDA
ability of company managers thinking out of the box to keep their employees safe and keeping paychecks flowing in the community.
CareerSource Gulf Coast Recent unemployment data shows Bay County at 12.8 percent unemployment for April. Although COVID-19 has impacted most industries, aside from construction (+200 jobs), hospitality/tourism (-4000 jobs), retail (-1,200 jobs) and trade, transportation, and utilities (-1,500 jobs) have taken the greatest hits. Organizations were immediately impacted by COVID-19 with re-
The mission of the Bay Economic Development Alliance has re-
quired modifications to their operations, including altering hours,
mained steadfast and focused during the COVID-19 pandemic.
decreasing staff, and/or temporarily closing. As Florida reopens in
Their main goal is to support the economic vitality of Bay County,
phases, many of these organizations are able to resume operations.
Florida by assisting local companies with expansion opportunities, recruiting new industry into the area and working with businesses
Tourism
to increase the per capita income in our community.
The community as a whole has faced much uncertainty over the
During the past three months, the Bay EDA has seen many of the “new” company recruitment projects placed on hold. They have adjusted their strategy to place extreme emphasis on assisting our existing industry. They have implemented several electronic
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remained in operation during this uncertain time, due in part to the
last couple of months, but one thing has remained the same: Panama City Beach’s loyal visitors. Visit Panama City Beach launched four digital marketing campaigns designed to keep residents and visitors alike informed and engaged during COVID-19.
communication tools, such as creating a COVID-19 portal on the
“Stay PCB Current” is an informative campaign that provides resi-
BAYEDA.com website, to serve as a clearinghouse of informational
dents with the most recent updates from the CDC and elected of-
resources to assist local companies; have worked with local CPA
ficials. In addition to “Stay PCB Current”, other campaigns include
firms and attorneys to distribute detailed, accurate, timely informa-
“#MyPCB,” “PCB Through Our Eyes,” “Home at the Beach,” and “The
tion on how companies can take advantage of the benefits provid-
Beach Always Brings Us Back.” These campaigns provide residents
BAY B I Z / S U M M E R 2020
