COVID-19 Economic Impact Analysis

Mid-April 2020 Estimate

Mid-April 2020 Estimate

Summary

Coronavirus disease (COVID-19) is a novel infectious respiratory disease that has sickened over 1 million people worldwide and killed tens of thousands. While Florida’s share of nationwide cases is relatively low, the state faces higher than average economic risks. Tampa Bay Regional Planning Council (TBRPC) has produced a preliminary analysis of the economic impacts of COVID-19 on the Tampa Bay Area and Florida economies.

TBRPC found that the combined economic losses from excess deaths, the national recession and statewide losses in consumer spending could cost the Tampa Bay Area and all of Florida more than 11 percent of Gross Regional Product and Gross State Product, respectively, and 218 thousand jobs in the Tampa Bay Area and about 1.36 million jobs throughout Florida in 2020.

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