Park City Chamber/Bureau readies first projection of economic losses from novel coronavirus
- Utah Department of Health: coronavirus.utah.gov/
- Summit County Health Department: summitcountyhealth.org/coronavirus
- U.S. Centers for Disease Control and Prevention: cdc.gov/coronavirus/2019-ncov/index.html
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Park City businesses, government bodies and the wider community sometime this week could learn of the early projections of the impact of the spread of the novel coronavirus on the local economy.
The Park City Chamber/Bureau is preparing its first report about the economic impact with plans to release the numbers publicly, Bill Malone, the president and CEO of the Chamber/Bureau said. Details about the time of the release were not available by late Sunday afternoon.
The report will provide data after an extraordinary week when the mountain resorts and many businesses were temporarily shuttered out of concern. The essential shutdown of the resort industry is expected to have a staggering economic impact on a community that is centered on skiing.
The timing of the shutdown during what is normally a busy time in the ski industry with spring-break vacationers will magnify the impact. The Chamber/Bureau, though, has also said much of the ski season’s business is already on the books after the holidays, the Sundance Film Festival and the Presidents Day holiday.
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The mountain resorts, restaurants, nightclubs, lodging properties, ski shops and transportation firms are some of the sectors that will suffer. Local government bodies like City Hall and the County Courthouse will also be impacted as revenue streams like sales taxes drop.
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Vail Resorts CEO Rob Katz made the announcement Wednesday, indicating all of the company’s year-round employees in the U.S. will be furloughed, starting Saturday, for “at least the next one to two months.”