GENERAL ECONOMIC TRENDS…In June, we talked a lot about what PCDA would do in response to the COVID-19 pandemic, see updated here GoPonca.com .
You have probably also read about the “end of July” in national publications since the extra unemployment runs out. That means that, unless the feds do something, the impacts of being unemployed will be felt not just by the unemployed, who will lose $600 per week, but also by the rest of the economy in which that extra money was being spent. We’ll try not to repeat that too much and focus on what PCDA is seeing in the local economy.
In general, companies are trying to get back to normal. That means different things to different businesses and the results are also different. For the most part, the “primary” employers (think industry) are still feeling the impacts of the pandemic but are finding ways to get by. Several are looking at growth opportunities while others wonder if they can hang on until things really do start to look “normal” again. With the word “surge” on everyone’s minds, there has been a surge in new project interests flirting with Ponca City. This is likely pent up demand that couldn’t do anything during the pandemic and simply can’t wait any longer. PCDA toured a new company through buildings this week and sent out two different proposals to other companies who asked specifically about our community.
Workforce is starting to rear its head as an issue again and housing is a topic that is coming back as an identified need. In addition, the child-care issue we have discussed in the past grows in importance, not just here but everywhere. A few of the primary employers have had an employee test positive and they have found ways to manage that to contain the spread. This may be what the “next normal” looks like. The pandemic is certainly not over, but the economy wants it to be. PCDA’s advice? Wear a mask, wash your hands and GoPonca.