Badger Club explores COVID impact on economy | Guest Opinion

In August, the Columbia Basin Badger Club presented a program that looked at the impacts of the COVID pandemic on the Tri-Cities community six months into the crisis. This month, the Badger Club will explore the present and future impacts of the pandemic on Washington State’s economy. The speakers will be Dr. Lisa Brown, Washington’s Secretary of Commerce, and Kristopher Johnson, the president and CEO of the 7,000-member Association of Washington Business (AWB).

We all know that the pandemic has dramatically disrupted Washington’s economy and that it will influence the state’s future economy in ways that are both obvious and unclear. The state and local governments are going to be facing unanticipated costs and dramatically lower tax revenues.

Dr. Lisa Brown is singularly well-suited to deal with the economic impacts of the COVID pandemic. A former college educator, the Spokane Democrat has served in both houses of Washington Legislature and served as Senate Majority Leader. She manages one of — if not the — most diverse agency in state government. Her department is responsible of all aspects of community and economic development. She will discuss the Inslee administration’s plans for dealing with the future impacts of the pandemic and her department’s role in it.

The business community, particularly small businesses, are struggling to stay afloat. A recent AWB survey of 457 Washington employers found that 60% of respondents said business has suffered as a result of the pandemic, but they are finding ways to manage through the challenges. By contrast, 7% said their business is struggling and may not survive, while nearly a quarter of respondents (23%) reported business is largely unchanged by the pandemic.

Sixty-five percent reported that they have received funds through the federal Paycheck Protection Program (PPP) and 18% reported using Economic Injury Disaster Loans. Six percent said they have used the State of Washington’s ‘SharedWork’ program. Nearly a quarter have had to lay off workers and many are concerned about affordable child care to allow their employees to come back to work. But how many others have not been able to access these resources?

Kris Johnson will describe the various ways that AWB and the broader business community have responded to the crisis, creating on online dashboard that provides extensive, up-to-date online data about every county and metro area in the state and creating a new internship program in cooperation with local chambers of commerce.

But, as we reopen and recover from the pandemic, there is sure to be an epic political struggle over challenges seen and unseen, between players known and unknown, including the results of the upcoming national and state elections. What happens when the bill comes due for all the money that governments at all levels have distributed? Washington’s tax structure has strained to get through previous economic downturns with many calling for a state income tax. How close is Washington to bankruptcy? What will be the state’s and the business community’s legislative objectives for the upcoming session?

Unemployment rates have been at historic highs not seen since the Great Depression. Federal assistance is hampered by an atmosphere of intense partisanship and a lack of leadership. How much of the federal and state financial assistance is reaching the intended recipients and is it arriving in a timely manner? Foreclosures and evictions were banned during the pandemic, but what happens to the landlord whose mortgage and maintenance on that property have kept right on adding up?

Those and other vexing questions will be on the table for the next Badger Forum, Thursday, Sept. 17, at noon. Register for the free Zoom meeting at the club’s website: columbiabasinbadgers.com.

This story was originally published September 16, 2020 at 8:29 AM with the headline "Badger Club explores COVID impact on economy | Guest Opinion."