By Tom Scanlon | Peoria Times
The Peoria economic impact of COVID-19, in a word: “severe.”
The power of the pandemic is already being seen in state unemployment—more than 200,000 Arizona residents have filed for unemployment assistance in the last month.
Though Gov. Doug Ducey’s order allowed restaurants (takeout/delivery only), grocery stores and other “essential businesses” to remain open, most local businesses were ordered to close March 31.
The resulting plummeting sales are likely to put a major dent in the city of Peoria’s revenue stream.
The 2020 Peoria budget projects $73 million in sales tax, 45% of the general fund revenue/transfers of $159 million.