COVID19 UPDATE
APRIL 15, 2020
STATE AND LOCAL ACTION
MOVEBR:

Four additional projects will be advertised Friday.

The Metro Council will meet April 22.

NEW ORLEANS:
CARING AND SHARING
ACEC Executive named to White House Ec on omic Revival Advisory Group
SAVE THE DATE: April 29, 2020 12:30pm-1:30pm ACECL-hosted Virtual Roundtable Zoom Meeting with Secretary Wilson. Registration to follow.
Economic information from a webinar held today:

  • Revenue losses from gaming will total $70M for the months of March, April, May
  • Mineral Revenue will be down $120M for the same period
  • Sales taxes will be down $200M for the same period
  • In total, he forecasts a $400M shortfall for the state by June 30. Adding what was expected to be a $200M surplus, the state will see a $200M gap. 
 
  • On July 1, revenue losses from mineral revenue will be even worse.
 
  • Local government will start to see big drops in revenue for them in May. Auto Sales tax are big sources of revenue for them and those sales are way down.
 
  • Estimates for La. job losses of 314,000 by year end, mostly from hotel, restaurant, tourism and construction. An unemployment rate of 20% expected. 60% of job losses are in hotels and restaurants.
 
  • Unemployment claims to date are 272,000. New numbers come out Friday.