Tag:

Economic Impact

Atlantic City Airshow Will Take Flight In 2024, Financial Uncertainty Lingers In The Air Atlantic City Airshow Will Take Flight In 2024, Financial Uncertainty Lingers In The Air
Atlantic City Airshow Will Take Flight In 2024, Financial Uncertainty Lingers In The Air Atlantic City's popular air show has been saved for 2024 but questions about the event's future are flying above its head. In a news conference on Wednesday, Mar. 20, Mayor Marty Small Sr. officially announced the South Jersey Transportation Authority (SJTA) will provide $300,000 to fund the 2024 Visit Atlantic City Airshow. The free event is scheduled for Tuesday, Aug. 13, and Wednesday, Aug. 14. Organizers said inflation and lingering COVID-19 pandemic impacts created doubts about the 2024 show as early as July 2023. A news release announcing the event's cancelation was drafted and could …
NJ University Generated $3B In Annual Revenue For State, Plans Continued Expansion: New Study NJ University Generated $3B In Annual Revenue For State, Plans Continued Expansion: New Study
NJ University Generated $3B In Annual Revenue For State, Plans Continued Expansion: New Study An independent study released this week calculates that Rowan University's annual economic impact is $2.9 billion statewide, up nearly double from less than five years ago, campus officials said. Projects such as Discovery Hall, the $46.7 million academic building that opened in 2021, support growth in the region and state, said the new study by Econsult Solutions Inc. (ESI) of Philadelphia. The Glassboro-based university is planning another $1.5 billion in expansion projects in the next decade, campus officials said. President Ali A. Houshmand, in a press statement, said: “Our e…
Alexandria's Potomac Yard Protestors Descend On Richmond Alexandria's Potomac Yard Protestors Descend On Richmond
Alexandria's Potomac Yard Protestors Descend On Richmond Traffic nightmare. Air pollution. Hidden costs. That's what Alexandria residents could face if the Potomac Yard comes to fruition, according to several activists against it. We've made it to the Brand New General Assembly Building!14 stories of legislative madness for the next two months. pic.twitter.com/MSSwUQgz1Y — DC New Liberals (@DCNewLiberals) February 8, 2024 And so, they brought their concerns to Richmond on Thursday, Feb. 8, hoping some two dozen or more lawmakers would hear them out. The protest was organized in part by Stop the Arena, who believe the plan for the massive are…
A 'Hole-In-One': Topgolf Opening First Massachusetts Location In 2023 A 'Hole-In-One': Topgolf Opening First Massachusetts Location In 2023
A 'Hole-In-One': Topgolf Opening First Massachusetts Location In 2023 The wait is over Topgolf fans! The modern golf experience is coming to Massachusetts in 2023. Construction has begun on Topgolf's first Massachusetts location, which is located along I-95 in Canton and about 20 miles southwest of Boston, the company reported on November 4, 2022. The venue's 90 hitting bays will feature Toptracer technology that allows players to track their ball's speed, distance, height and more.  When guests step off the green, they can indulge in Topgolf's chef-inspired menu items, top-shelf drinks and music or spend time on the rooftop terrace, outdoor patio. Topgolf w…
Westchester Convenience Stores Urge Against Banning Sale of Flavored Tobacco Products Westchester Convenience Stores Urge Against Banning Sale of Flavored Tobacco Products
Westchester Convenience Stores Urge Against Banning Sale of Flavored Tobacco Products Convenience stores in Westchester County are speaking out against a proposed ban on the sale of flavored tobacco products.  The ban, which would prohibit the sale of products such as menthol cigarettes, cherry pipe tobacco, vanilla cigars, and wintergreen smokeless tobacco, would drive consumers to stores in other neighboring counties that would still allow these sales, according to the New York Association of Convenience Stores.  "There are currently 906 retailers within only five miles of Westchester County’s border, all of whom will continue to sell flavored tobacco p…
Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals
Here Are Adjustments NYers Are Making In Response To Inflation, New Poll Reveals Researchers have reported the findings of a new poll about the adjustments New Yorkers plan to make to their lifestyles in response to inflation. The Siena College Research Institute published the findings of an economic impact survey conducted in March. Researchers found that 26 percent of respondents said inflation is having a very negative effect on their personal finances, and 44 percent said it is having a somewhat negative effect. Eighty-seven percent of respondents reported that they are concerned about the cost of food in light of economic conditions and the war in Ukraine, and 80 …
COVID-19: Cats, Dogs, Caviar, Here Are Odd Shortages Caused By The Pandemic COVID-19: Cats, Dogs, Caviar, Here Are Odd Shortages Caused By The Pandemic
Covid-19: Cats, Dogs, Caviar, Here Are Odd Shortages Caused By The Pandemic The COVID-19 pandemic and subsequent economic turmoil are leading to supply shortages in places you might not have considered. Among purchasables in short-supply are cats and dogs up for adoption to baking yeast, jigsaw puzzles, and truffles among other things. When COVID-19 closed much of the economy in March 2020, items that include toilet paper, paper towels, cleaning supplies, coins, meat, and flour were among the first pandemic-related shortages Americans experienced. Most of those shortages have been addressed by manufacturers and supply chains. But as the U.S. comes up on one year…
COVID-19: Map Predicts Pandemic's Economic Impact On Every Street In US - Find Yours Here COVID-19: Map Predicts Pandemic's Economic Impact On Every Street In US - Find Yours Here
Covid-19: Map Predicts Pandemic's Economic Impact On Every Street In US - Find Yours Here A new interactive map is forecasting the economic impact of the COVID-19 pandemic not just on individual states, and towns, but neighborhoods, as well. Created by BestNeighborhood.org, a property data clearinghouse, the map draws on industry data and economic projections to predict where the economy will be hardest hit by the pandemic over the next 6-12 months. With just a bit of clicking and zooming, very precise predictions about where the economy is expected to suffer the greatest economic damage from COVID-19 can be searched down to street-level. The map is color-coded and, at the s…
COVID-19: Long Island Official Calls On Cuomo To Lift Curfew On Bars, Restaurants COVID-19: Long Island Official Calls On Cuomo To Lift Curfew On Bars, Restaurants
Covid-19: Long Island Official Calls On Cuomo To Lift Curfew On Bars, Restaurants Nassau County Executive Laura Curran is calling on New York Gov. Andrew Cuomo to extend the 10 p.m. curfew on bars and restaurants as Long Island continues combating the COVID-19 pandemic. Curran issued a letter to fellow Democrat Cuomo on Tuesday, Feb. 9 requesting that the state adjust the current 10 p.m. curfew to midnight, stating that bar and restaurant owners have shown they can open and operate safely without spreading the virus. In her letter, Curran noted that the restriction hurts the revenue for restaurant owners and also cuts the hours and tips of employees. “I have heard from …
COVID-19: College In Upstate NY Cutting 25 Academic Programs COVID-19: College In Upstate NY Cutting 25 Academic Programs
Covid-19: College In Upstate NY Cutting 25 Academic Programs Citing financial hardships brought on by the COVID-19 pandemic, an upstate New York college will be cutting some faculty and programs to help balance their budget. The Board of Trustees at the College of Saint Rose in Albany approved a plan to reduce academic expenses by $5.97 million, eliminating 16 unique bachelor’s degrees, six master’s degree programs, and three certificate programs. Students enrolled in those programs will be able to finish their degrees and will receive individualized plans to complete their program, though there will be no new students enrolled in that program. Acco…
COVID-19: Pet Valu Closing All US Stores COVID-19: Pet Valu Closing All US Stores
Covid-19: Pet Valu Closing All US Stores Pet Valu is closing all of its stores in the United States starting Thursday, Nov. 5. On Wednesday, Nov. 3, in a press release owners said the economic impact of COVID-19 has forced their decision to close 358 stores across the nation. There are dozens of Pet Valu retailers located in Connecticut. Pet Valu Canada will not be affected by the changes, owners said in a press release. The 600 Canda stores and online retail will continue on. Pet Valu said that all sales will be final starting on Nov. 5 - no refunds or exchanges. People are being encouraged to spend any accumulated loyalty pe…
COVID-19: Popular Texas Style BBQ In Westchester Closed Through Year's End COVID-19: Popular Texas Style BBQ In Westchester Closed Through Year's End
Covid-19: Popular Texas Style BBQ In Westchester Closed Through Year's End A Westchester barbecue restaurant with rave Yelp reviews will remain closed until the end of December due to the economic impact of COVID-19. "We are currently closed until we can reopen safely due to the impact of coronavirus," reads Revenge BBQ's website. According to Yelp, establishment on Main Street in Irvington will remain closed until Dec. 31. The establishment is known for its burgers, brisket, "dinosaur ribs" and pulled pork. The restaurant is so named because, according to owners Jacob and Catherine Styburski,  “happiness is the best revenge."
The Struggle Is Real: 44 Percent Of Families Spent All/Most Of Savings Since COVID-19 The Struggle Is Real: 44 Percent Of Families Spent All/Most Of Savings Since COVID-19
The Struggle Is Real: 44 Percent Of Families Spent All/Most Of Savings Since Covid-19 A new poll of U.S. households with children found that more than 60 percent are facing major financial difficulties since the COVID-19 outbreak. Released in September, the new study, “The Impact of Coronavirus on Households With Children,” is a research project between NPR, the Robert Wood Johnson Foundation, and the Harvard TH Chan School of Public Health. The study polled nearly 3,500 adults with children and highlights how households are faring in areas of child care, finances, employment, and health, among others since COVID-19 upturned the national economy. - 61 percent of households …
COVID-19: Westchester Location Of Popular Pizza Chain Closes COVID-19: Westchester Location Of Popular Pizza Chain Closes
Covid-19: Westchester Location Of Popular Pizza Chain Closes Citing the economic impact of COVID-19, a Westchester County location of a popular pizza chain announced its closure this September.  "Due to the ongoing COVID-19 pandemic and related lease challenges with our landlords, we regret to inform you that we have closed this CPK restaurant," the Scarsdale California Pizza Kitchen announced on their website. The nearest still-open California Pizza Kitchen restaurant is at 7103 80th St. in the Glendale section of Queens.
COVID-19: Award-Winning Area Coffee, Donut Shop To Close For Good COVID-19: Award-Winning Area Coffee, Donut Shop To Close For Good
Covid-19: Award-Winning Area Coffee, Donut Shop To Close For Good A popular coffee shop will permanently close its doors after next month, citing the economic impact of COVID-19 on their business.  Twin Peaks Coffee and Donuts, which has operated in Greene County out of Tannersville for eight years, made the top five in Yelp's highest-ranked coffee shops last year.  The eatery was known for its made-to-order doughnuts, which were made with batter and glazes made in-house. "It is with a heavy heart that we must share the news that Twin Peaks Coffee and Donuts will be closing it’s doors," read a message on the cafe's website. "We have lost employ…
Moody's Increases Rockland's Bond Rating To A1 Moody's Increases Rockland's Bond Rating To A1
Moody's Increases Rockland's Bond Rating To A1 Despite being in the midst of a global pandemic, Moody’s Investigators Service has increased Rockland County’s bond rating. This week, Moody’s announced that Rockland’s rating has been upped from A2 to A1. According to Moody’s, the upgrade of the rating to A1 reflects the county's recently improved financial position which is being challenged with sales tax and state aid losses as a result of the COVID-19 pandemic. “We regard the coronavirus outbreak as a social risk under our ESG framework, given the substantial implications for public health and safety,” Moody’s evaluators stated. “The …
COVID-19: More Than 250 Workers Laid Off At Bridgeport Distribution Site COVID-19: More Than 250 Workers Laid Off At Bridgeport Distribution Site
Covid-19: More Than 250 Workers Laid Off At Bridgeport Distribution Site alphabroder Prime in Bridgeport is laying off 255 employees from its warehouse. At alphaborder Prime most of the layoffs will be for machine operators (94) and packers (54). The employees are not represented by a union. The company is a clothing distributor and is not affiliated with Amazon Prime. In a letter to the state’s Rapid Response Unit, Alphaborder Prime HR Director Marilyn Caraballo said the company at 1100 Boston Ave., has been terminating employees since March and placed 152 employees on temporary furlough in April. Those people on furlough are likely not going to be asked to r…
Amazon To Lay Off More Than 50 Employees At CT Distribution Site Amazon To Lay Off More Than 50 Employees At CT Distribution Site
Amazon To Lay Off More Than 50 Employees At CT Distribution Site Layoffs are predicted now that Amazon has cut ties with Bristol distributor Systemized Logistics. Almost two years ago, Amazon opened a “delivery station” in Bristol’s 229 Technology Park. It was a sorting destination with an initial staff of 100 people. Estimates said the number of employees could grow to as many as 500, said Mayor Ellen Zoppo-Sassu. More than 50 people will be laid-off, the New Britain Herald reported. “We encourage those affected by the layoff to take advantage of the local branch of the American Jobs Center for reemployment assistance,” the mayor said. In a statement…
COVID-19: Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores COVID-19: Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores
Covid-19: Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men’s Wearhouse and Jos. A. Bank will close up to 500 stores and lay off 20 percent of its corporate workforce, the California-based company has announced.  The company has not announced a timeline for closure. The continuing negative economic impact of COVID-19 was largely blamed for the decision, according to corporate parent company Tailored Brands President Dinseh Lathi. Following these changes, the company expects to pay about $6 million in severance pay and other termination costs. Tailored Brands has an estimated 1,500 stores across all of its brands.
Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores
Men's Wearhouse, Jos. A. Bank To Close Up To 500 Stores Men’s Wearhouse and Jos. A. Bank will close up to 500 stores and lay off 20 percent of its corporate workforce, the California-based company has announced.  Massachusetts and Connecticut combined have more than two dozen such stores. The company has not announced a timeline for closure. Although the company is yet to name which stores are subject to closure: Connecticut has Men’s Wearhouses and Jos A. Banks in over 12 communities including West Hartford, Danbury, Milford, Enfield, Meriden, Glastonbury, and Fairfield. In Massachusetts, shops for Men's Wearhouse and Jos. A. Bank can be…
COVID-19: Hartford County Hotels To Cut Hundreds Of Employee Jobs and Hours COVID-19: Hartford County Hotels To Cut Hundreds Of Employee Jobs and Hours
Covid-19: Hartford County Hotels To Cut Hundreds Of Employee Jobs and Hours Three major Hartford County hotels have announced plans to layoff or reduce the hours of nearly 450 employees due to economic fallout from the COVID-19 pandemic. The Hartford Marriott Downtown, the Hilton Hartford, and the Sheraton in Windsor Locks have put the Connecticut Department of Labor on notice about layoffs and reduced employee hours planned for this month. Many companies are required by Connecticut law to inform the state’s Dislocated Worker/Rapid Response Team prior to mass layoffs. It is unclear if the layoffs or cut hours will be permanent. In letters to the Rapid Response Tea…
COVID-19: Cheesecake Factory To Close Fairfield County Location COVID-19: Cheesecake Factory To Close Fairfield County Location
Covid-19: Cheesecake Factory To Close Fairfield County Location The Cheesecake Factory plans to permanently close a location in Fairfield County due to the economic impact of the novel coronavirus (COVID-19) pandemic. The closure of the restaurant, located at the Stamford Town Center Mall on Tresser Boulevard, will result in the loss of about 100 jobs and is effective at the close of business on Sunday, Aug. 1. In a Worker Adjustment and Retraining Notification ("WARN") Act filing dated Friday, June 26, the company wrote: "Business conditions rapidly and suddenly deteriorated during the continuing COVID-19 crisis, national emergency, and …
COVID-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company' COVID-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company'
Covid-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company' Macy's is eliminating 3,900 corporate and management positions, about three percent of its total workforce, in a move to cut costs amid a steep decline in revenue during the novel coronavirus (COVID-19) pandemic. It's also reducing staffing across its stores, supply chain and customer support network, the company announced Thursday, June 25. Macy's says it will adjust staffing as sales rebound. “COVID-19 has significantly impacted our business. While the re-opening of our stores is going well, we do anticipate a gradual recovery of business, and we are taking action to align our cos…
NJ Mayors Want Murphy To Reopen Indoor Malls, Shopping Centers NJ Mayors Want Murphy To Reopen Indoor Malls, Shopping Centers
NJ Mayors Want Murphy To Reopen Indoor Malls, Shopping Centers A group of New Jersey mayors have formed a coalition in hopes of persuading Gov. Phil Murphy to reopen indoor malls. Woodbridge Mayor John E. McCormac is helming the coalition of mayors, all of whom have large indoor mall and shopping centers in their municipalities.  All New Jersey malls and shopping centers closed on March 17 due to the coronavirus outbreak. On May 18, the state allowed non-essential retail stores to offer curbside pickup. As the state begins to enter stage two of the multi-phase reopening plan on June 15, Murphy has said stores in the mall with direct access …
Stop & Shop Announces Closure Of CT Store Stop & Shop Announces Closure Of CT Store
Stop & Shop Announces Closure Of CT Store A Stop & Shop location in Connecticut will be shutting its doors before the end of the year due to poor sales. Stop & Shop announced that its location on Centennial Plaza in Meriden will be permanently closed in the fall. “Stop & Shop has made the difficult decision not to renew the lease for our store in Centennial Plaza in Meriden, Connecticut, as the store was not meeting financial expectations,” a company spokeswoman said.  “Stop & Shop intends to operate the store and the fuel station through the fall of 2020 and at that time, all associates will be given the opp…
Victoria's Secret, Bath & Body Permanently Closing Stores Nationwide Victoria's Secret, Bath & Body Permanently Closing Stores Nationwide
Victoria's Secret, Bath & Body Permanently Closing Stores Nationwide Victoria’s Secret will permanently close about 250 stores in the U.S. and Canada this year, parent company L Brands announced.  Ohio-based L Brands did not detail the closure locations, but there are 42 Victoria's Secret stores in New Jersey and 1,000 nationwide.  L Brands also announced that 51 Bath & Body Works stores in the U.S. and Canada will close this year. There are 10 Bath & Body stores in New Jersey and 1,635 stores nationwide. The popular retail chain joins others in announcing permanent store closures in recent weeks including J.Crew, Neiman Marcus, JC Pe…
COVID-19: CT Releases Recommendations For Phased Reopening Of Colleges, Universities COVID-19: CT Releases Recommendations For Phased Reopening Of Colleges, Universities
Covid-19: CT Releases Recommendations For Phased Reopening Of Colleges, Universities A detailed report containing recommendations for reopening Connecticut colleges and universities is under review by state officials. The education committee of the Reopen Connecticut Advisory Group outlined a plan for a gradual reopening of higher education campuses – at the discretion of each institution and depending on health conditions – based on factors detailed in the report, Gov. Ned Lamont said on Wednesday, May 6. Those guidelines include a gradual reopening of higher education campuses over the summer followed by the reopening of most or all programs in the fall. "Our colleg…
COVID-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic COVID-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic
Covid-19: Here's How Much Online Grocery Sales Are Increasing Amid Pandemic The demand for home delivery and online store pickup grocery sales have skyrocketed during the novel coronavirus (COVID-19) pandemic, according to a new report. Home delivery and store pickup online grocery sales reached a new 30-day record for April, hitting $5.3 billion and marking a 37-percent increase from $4 billion in March, according to the latest Brick Meets Click and Symphony RetailAI Online Grocery Survey. The report found the month-to-month sales growth represents a 33 percent increase in the monthly number of online orders, from 46.9 million to 62.5 million. There was also a 3 p…
COVID-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says COVID-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says
Covid-19: Half Of Americans Have Lost Job, Or Work Hours, Due To Pandemic, New Poll Says Half the country has taken a financial hit due to the novel coronavirus (COVID-19) pandemic, and most don’t believe they’ll be heading back to work soon, according to a newly released Marist College poll. According to the poll, 50 percent of Americans said they or someone in their household has lost their jobs or hours due to the virus, up from 18 percent from a previous poll just a month ago. "There are few households in the country that haven't been affected by this crisis, through health, through school, through jobs, from all walks of life, from all backgrounds," Barbara Carvalho, direc…
COVID-19: Here's One Bright Spot In Record March Retail Sales Decline COVID-19: Here's One Bright Spot In Record March Retail Sales Decline
Covid-19: Here's One Bright Spot In Record March Retail Sales Decline Though the novel coronavirus (COVID-19) pandemic has wreaked havoc on retail stores in the entire nation, grocery and beverage store sales skyrocketed to new heights, according to newly released data. While retailers have seen businesses plummet, grocery stores and beverage depots have seen sales increase by more than 25 percent since the outbreak began in early March, according to a new report from the National Retail Federation. According to the U.S. Census Bureau, the overall retail business was down 8.7 percent from February to March, and down 6.2 percent at the same point last year. Th…
2,704 Tropicana Atlantic City Employees Laid Off 2,704 Tropicana Atlantic City Employees Laid Off
2,704 Tropicana Atlantic City Employees Laid Off More than 2,700 employees were laid off from Tropicana Atlantic City with state-ordered casino closures extended another month, according to a WARN notice filed with the New Jersey Department of Labor and Workforce Development. Last Saturday, Eldorado Resorts -- which owns Tropicana -- moved to the minimum workforce necessary to maintain basic operations, according to an April 8 report to shareholders. New Jersey's nine casinos were ordered closed along with gyms, concert venues and movie theaters by Gov. Phil Murphy March 16 to help slow the spread of coronavirus. Atlantic City …