The economic toll of the COVID-19 pandemic is being felt in every part of the United States, locally leading dozens of Aggieville businesses to suspend operations and lay off hundreds of employees.
Manhattan Mayor Usha Reddi Tuesday via Zoom read comments written by Aggieville Business Association Executive Director Dennis Cook, who had expressed support for a city business expense relief loan program under consideration.
Cook wrote an estimated 880 employees of the district’s 96 businesses have lost their jobs, and about three quarters of those workers are not even in Manhattan to work elsewhere or contribute to the local economy. In total, 48 businesses have closed their doors and 53 are operating with adjusted business models and a serious dip in patronage but no Aggieville businesses have gone under due to the situation at this point.
He further broke the numbers down by business type. The district’s 33 dining establishments have laid off around 420 employees and 14 are not operating. Service companies, like salons or repair shops, have laid of 160 employees and 20 of 31 are not operating. Bars have laid of 250 employees and 17 of 20 are not operating. Those that offer some food options are operating in limited capacities. Shops have laid of 50 employees and 7 of 13 are not operating.
“We know that some of the damage is done and we can’t go back.”
Cook wrote he currently does not have the tax revenue implications of the situation at this time.