COVID-19 Economic Roundup for the Week of May 18
ICYMI - To help our investors keep track, we’ve compiled some of the top COVID-19 business and Economic Response Task Force news of the past week.
At last week’s Economic Response Task Force town hall, EDCUtah’s Theresa Foxley discussed some findings for the latest Business Impact survey. Fox13 story here.
News from a recent EDCUtah project – With a data center in Eagle Mountain, Facebook is an active member of the community and is supporting those in need. This includes $582,000 to the Alpine School District, to ensure students in greatest need have laptops to learn from home, as well as iPads for special needs students, and video equipment for teachers to record lessons. More here.
A Bloomberg op-ed highlights areas of the country most likely to see real estate demand increase as remote teleworking rises. Salt Lake City is in the top five. “The biggest beneficiaries here will probably be metro areas with similar cultures and amenities as the higher-cost coastal regions people are leaving, but have lower housing costs.”
Utah’s outdoor products industry has been exemplary in supporting others during the pandemic, so we’re pleased we can celebrate the sector as a whole with the publication of a newly updated Industry Profile. You can find it at www.edcutah.org/research.
News from an EDCUtah investor – Comcast recently announced the company will extend commitments for Xfinity customers through June 30 to help ensure students can finish out the school year from home and remain connected to the internet during the COVID-19 crisis. In Utah, Comcast is supporting emergency relief funds and local organizations across Utah by committing nearly $330,000 in relief funding, including $50,000 to the United Way of Salt Lake, and over $280,000 to community partners who lost revenue, or shifted their programming to serve people and small businesses impacted by the crisis. These partners include Neighborhood House, Boys & Girls Clubs of Greater Salt Lake, the Utah Food Bank, YWCA Utah and many others. More here.