Greater Moncton Task Force Working On Economic Recovery Plan
Apr 27, 2020by Inda Intiar
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MONCTON – The chamber of commerce of Greater Moncton (CCGM) and 3+ Corporation are leading a stakeholder group on the region’s economic recovery, starting with a survey on the needs of Greater Moncton businesses.
The Southeast Economic Recovery Task Force includes the City of Moncton, Expansion Dieppe and the city, the town of Riverview, the town of Sackville, WorkingNB and OpportunitiesNB. It has also asked for input from other chambers of commerce and smaller municipalities in the region.At the beginning of the coronavirus crisis, the group focused on the immediate economic impact of the pandemic. But it will now focus to the recovery phase.
The task force will work to determine longer-term support for the business community based on the survey results, including by identifying labour force supply and demand, and guiding them on how to safely resume operations.
“We just think if all these groups can band together and sort of lead in these areas, it would take some of the strain from businesses in terms of how to navigate the new world order,” said CCGM CEO John Wishart.
The survey by CCGM and 3+ found that most respondents’ top immediate needs include meeting payroll, paying lease costs and assistance to meet loan and line of credit obligations.
Wishart said businesses will also need a lot of guidance to reopen safely when the time comes. Things like physical distancing at restaurants and patios, or asking customers to put on a mask are what businesses may have to deal with.
“I think this has to be a very carefully thought-out plan for training of staff and a lot of information sharing about that aspect of things,” Wishart said shortly after Premier Blaine Higgs announce the lifting of some restrictions on Friday.
It’s good news that the province has reached a point where it can begin re-opening society and the economy, but unsurprisingly, the first stage consists of “baby steps,” Wishart said, as safety precaution is a priority.
While “we may never get to the old normal,” he said businesses are looking forward to a new economic normal.
“I’m sure there are lots of business owners who are thinking ‘maybe I can open in two-to-four weeks, but how long does it take me to get to a point where I can start to generate the same kind of revenue I did pre-pandemic?'” he said.
There’s also the question of how COVID-19 has impacted immigration. Labour shortage has been a major issue in New Brunswick for years and immigration is one of the key solutions.
The Greater Moncton area had set out to attract 2,700 immigrants a year by 2024, and the province aimed to attract 7,500 immigrants a year.
“There’s some pretty lofty targets there for Greater Moncton – obviously it’s out the window this year. But what does it do long-term?” Wishart said.
The survey showed COVID-19 has had a “very serious” impact on 46 percent of businesses that responded, while another 42 percent said it has a “serious” impact. Of the total, 26 percent had to lay off all employees, while 35 percent laid off some workers. Many of those layoffs are substantial, with some companies having to lay off between 90 and 250 people.
Thirty-five percent of businesses also had to close, although the closures are temporary for now.
Under New Brunswick’s recovery plan, large events, organized sports and bars are expected to be among the last to resume operations – not until at least the end of the year. Wishart said there’s concern about the impact they’d see.
“I guess I’m hoping that if we keep the trajectory of the disease flat, maybe the province will see fit to relax those end-of-year deadlines and maybe open up that segment of the economy sooner,” he said.
https://huddle.today/greater-moncton-task-force-working-on-economic-recovery-plan/
