Greater Sacramento COVID-19 Update
April 3, 2020
Good Afternoon,

I am pleased to say that we had a highly successful board meeting at the start of this week with nearly all of our board members as well as some guest organizations taking part. It is uplifting and reassuring to see the excitement our CEO's and community leaders have in creating economic stability.

Our team members continue to work with companies looking to locate to the Greater Sacramento region, and there is a lot of positive momentum for growth.

I am proud to see the willingness for area companies to push forward with work and evolve to meet the needs of our time and get us through this.

Stay Healthy,
Barry
In the news
Sacramento could be the first economy to bounce back after coronavirus

Barry talked about how new developments and potential migration into the region from other California communities will facilitate the region's recovery from COVID-19 on ABC10.

Impacts and Outcomes of COVID-19: An early overview

Barry and James Beckwith, President & CEO of Five Star Bank, addressed the impact and expected outcomes COVID-19 is having on the business community at large, the local banking community and the outlook as the market emerges from this challenge.

Crisis regional outlook with GSEC and the City of Roseville

Barry and Wayne Wiley, City Planner at City of Roseville, were on the HaneyBiz Daily Webinar Series sharing about regional resources available to support small businesses through the crisis. They also discussed the status of the regional economy and how it’s poised for recovery.

Economic impacts and projections updates
Updated Report: Forecast for U.S. GDP

The GSEC team analyzed data from Goldman Sachs, JP Morgan, UCLA Anderson School of Management and more to compile an updated economic forecast for the U.S. GDP.

COVID-19 data map

We added a new map to our resource page that provides information about the spread of COVID-19 across the United States. The data is updated daily from the New York Times and includes the following variables for the U.S. as a whole and each county:
  • Chmura's JobsEQ Job Loss Vulnerability Index
  • Total cases
  • Total deaths
  • Cases growth
  • Cases % growth
New unemployment data

Today the unemployment rate was announced at 4.4%. Note this number was calculated as of March 12, before most of the country was under the stay at home order. As we have seen over 10 million more people become unemployed since then, some economists are forecasting that the rate could go up to 10-15% next month.
DCA Partners: Impact of COVID-19 on the local economy

DCA Partners hosted a webinar this week discussing the anticipated impact of COVID-19 on the local economy. Click here to read our summary of it.
Announcements
The federal government issued a warning about potential fraud scams surrounding the COVID-19 stimulus. Learn more »

CBRE shared relevant lease language for occupiers and owners. Learn more »
Upcoming programs
GSEC programs

The GSEC team is pivoting upcoming events and meetings to virtual sessions. If you have registered for or are planning to attend an upcoming program, stay tuned for instructions on joining us virtually or in some cases, a rescheduled date.
Related programs

COVID-19: Remote work and workplace preparedness
Host: JLL
Date: On demand

Virtual Entrepreneurship Toolkit Series
Host: Sacramento State Carlsen Center for Innovation & Entrepreneurship
Date: Ongoing
Featured commercial real estate property
2050 Gateway Tower

This new, 327,000 sf Class A office located in the South Natomas submarket is expected to be delivered Q4 2022.

#EconomicResilience
Show your solidarity and support for our community by re-sharing our posts and tagging your own with #EconomicResilience.
COVID-19 resources
Resources from the California State Treasurer's Office

Fiona Ma's office has compiled four informational resource lists to on tax relief, food access, individuals and small businesses. See them here. If you have questions or comments regarding resources that are available to help through this difficult time, please e-mail AskFiona@treasurer.ca.gov.

Individuals or businesses who would like to donate medical supplies can e-mail contributions@caloes.ca.gov.
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