By Mike Sunnucks | Rose Law Group Reporter
Arizona ranks as one of the U.S. states with the least potential economic impacts from the Coronavirus and resulting closures and fallouts.
Neighboring Nevada, with its casinos and reliance on tourism and meetings, has the highest potential economic fallout from COVID-19.
That is according to new research from Wallet Hub.
New research from WalletHub ranks Arizona as the U.S. state with the 6th lowest potential economic fallout from the Coronavirus. The rankings are based on the importance of tourism as well as hospitality businesses such as restaurants and bars to state economies and their workforces. WalletHub also looked at the number and percentage of part-time workers and small businesses in each state. Part-time and shift workers as well as small businesses could be hit hard by Coronavirus’ impact.
Arizona (including cities such as Scottsdale and Sedona) has a significant tourism industry accounting for 192,000 jobs statewide. The state also has a large number of small businesses but also has a diversity of sectors with large employment bases including health care.
Alabama, Maryland, Massachusetts and New York have the least potential economic impact, according to the research. Montana, Alaska, Wyoming, Hawaii, Oregon and Florida have the most potential impact after Nevada, according to WalletHub.
WalletHub also looked at states’ overall responses to the Coronavirus and how aggressive they have been.
Rhode Island, Connecticut, Maryland, New York and Washington have had the most aggressive responses to the virus including business and school closures.
Arizona ranks 29th in terms of how aggressive it has responded to the virus in terms of closures and travel restrictions. Schools statewide are closed. Arizona State University and other colleges are holding classes online. Tourist attractions and movie theaters are closing.
California ranks 23rd, Florida 37th and Texas 49th on the list.
Wyoming and Mississippi have had the least aggressive responses thus far.