By Jon Hecht | RedRockNews
It has now been nearly a month since the implementation of social distancing and Gov. Doug Ducey’s decision to close some businesses, and the economic impacts are already felt. Businesses have closed, workers have been sent home, and many of those companies that have managed to stay open have seen huge drops in their business. With the Verde Valley especially reliant on tourism for much of its commerce, the hit has been felt hard.
Beyond the impacts on local businesses, a drop in sales has also meant a cratering of sales tax revenues. With all major Verde Valley municipal governments receiving the bulk of their revenues through sales tax, falling sales have also meant huge holes in the budgets of the towns in the area.
Sedona, while anticipating a massive shortfall in its budget, is banking on reserves to help it through the downturn.
