By Mike Sunnucks | Rose Law Group Reporter
A substantial uptick in COVID-19 cases Arizona is threatening the state’s economic and jobs recovery, according to a leading economist.
“If you have a resurgence in Arizona it’s going to slow a recovery,” said Elliott Pollack, a veteran economist and CEO of Elliott J. Pollack and Company in Scottsdale.
Pollack talked about the need to wear masks and its economic benefits during Rose Law Group’s New Economy (Virtual) Power Lunch series on Friday.
“This will allow the economy to recover more quickly,” said Pollack.
Arizona has an uptick in COVID-19 cases. The state now 32,918 cases with 1,654 new cases reported Friday by the Arizona Department of Health Services. That is record daily increase.
The state has reported 4,622 new Coronavirus cases the past three days.
Jackob Andersen, president and CEO of Saint Holdings which is bringing a Lucid Motors and a Nikola Motor Company hybrid truck factories to Pinal County, also worries about COVID resurgence pointing to bar and club patrons in Scottsdale not wearing masks or practicing social distancing.
“I think we need to be a little cautious,” Andersen said during the Rose Law Group virtual forum.
Pollack worries if there is a COVID resurgence it will stall the rebound in jobs and discourage consumer spending.
“As long as people are concerned about COVID you are not going to get sufficient consumer spending to get back to normal,” Pollack said.
He also said if the rise in cases results in another Arizona shutdown it will be an image hit to the state.
“People aren’t playing the game. They aren’t wearing the masks,” Pollack told the Rose Law Group virtual forum stressing the need to wear masks when in crowded setting for economic reason to protect those most vulnerable to COVID-19.
Arizona has some potential competitive and lifestyle advantages as the economy and country emerge from the pandemic and protests and unrest from the police killing of George Floyd in Minneapolis.
Craig Krumwiede, president and CEO of real estate firm Harvard Investments, said his company’s Talking Rock residential development in Prescott has seen more inquires from California which has had restrictive pandemic shutdowns that have frustrated businesses in particular.