Economy
It’s been a tough year for local businesses, but things are looking up again. The Central Coast Economic Action Organization, or “REACH” said the economy is starting to recover.
The new research was conducted by the organization.
The report says our economy is still feeling the impact from a year of coronavirus related restrictions.
According to REACH, business revenues in the Central Coast are almost a third lower than they were in March of 2020.
The pandemic’s impact includes everything from salaries to childcare, and more.
In the last year, some businesses were impacted more than others.
“Tourism, hospitality and recreation saw a decline of over 50% in that period,” said researcher Josh Williams. “Other services like salons and spas, and dry cleaning- those saw a decline of 20%. Retail saw a decline of over 10%.”
But now, researchers have seen some recovery with job postings increasing.
REACH plans to use the report’s findings to help businesses rebuild after COVID-19.
Community / Local News / Santa Barbara – South County / Santa Maria – Lompoc – North County