A survey of businesses in the Pikes Peak region found concerns about customers, cancellations and ongoing economic declines in the wake of the global pandemic, according to results released Monday by the Colorado Springs Chamber & EDC.
The chamber surveyed 176 local businesses March 18 and March 23 and used the sample to project the magnitude of losses to the local economy: $10.1 million in since Jan. 20, the day before the first U.S. case was reported.
The chamber noted Monday the results are "profound and have likely grown in severity" since Gov. Jared Polis issued a |ey by clicking here.
At the time of the survey, 78% of respondents reported lost business while 57% said they had plans to respond; 18% told surveyors they were uncertain.
Thirty percent of respondents were concerned about existing or anticipated problems with their domestic supply chain, while 23% had the same worry about international supplies.
“As COVID-19 is significantly disrupting our regional economy, we needed a way to ask businesses in the Pikes Peak region directly how they are being affected so that we can effectively triage resources and needs,” Cecilia Harry, the Springs chamber's chief economic development officer, said in a statement.
The chamber produced the survey with the city of Colorado Springs, Colorado Springs Utilities, Downtown Partnership of Colorado Springs, El Paso County, Pikes Peak Community Foundation, Pikes Peak Small Business Development Center, Pikes Peak Workforce Center and VisitCOS.
Crystal LaTier, executive director of economic development for El Paso County’s Economic Development Department, said collecting local data is the work of a community task force responding to the pandemic.
“We want to identify local strategies to assist businesses as soon as possible in addition to the state and federal packages available,” she explained.