Economic Development Director Believes Economic Stabilization Will Make Recovery Easier
By Allison Mollenkamp , NET News
June 16, 2020, 5:30 p.m. ·
Nebraska’s director of economic development says steps taken early on to stabilize the state economy are helping with the recovery going forward.
COVID-19 has caused unprecedented economic damage to Nebraska, including job loss, loss of tax revenue, and a slew of cancelled events.
But the department of economic development says the paycheck protection program, a reprieve on commercial rent payments, and economic injury loans from the Small Business Administration helped to stabilize the state economy. They hope that stabilization will assist with recovery.
Tony Goins is director of Economic Development. His optimism that more Nebraskans will start frequenting local businesses outweighs his concerns around reopening, despite the lack of a vaccine for the illness.
“The concern is how quickly will that consumer be comfortable in visiting an establishment?" Goins said. "My optimism has to do with what I’ve seen thus far. And I do think that you’ve started to see, as we’ve started to open back up the economy, the business leaders that I’m talking to, are really starting to see a gradual uptick in consumer traffic each day and each week.”
Last week the state announced a grant program to further assist Nebraska businesses.