Downtown Springfield Inc polled downtown businesses and non-profits from March 31-April 3 to find out what impact COVID-19 has had on our neighborhood.
More than 40% of respondents have experienced a drop in revenue above 75%. At least 20% of the downtown workforce has been laid off, mostly in the hospitality sector. This number is likely under-representative, as our survey broadly asked for “layoffs over 20 individuals” as a category, far below the number of employees likely impacted through 5% occupancy at our downtown hotels.
The need for rapid distribution of stimulus dollars is apparent in the survey results. Most restaurants can survive only 1-2 months in the current state; a majority of businesses can make it 3-5 months before being at risk of closing permanently.
Gap financing varies by sector as well — a majority of downtown retailers need gap financing through June 1 of less than $10,000, with a majority of bars and restaurants needing $20,000-$50,000 to make it through to that date.
If you are able, please keep supporting the businesses and non-profits who make Springfield a unique and wonderful place to live through takeout, gift cards and shopping for upcoming special occasions like Easter and Mother’s Day. You can find a list of Sangamon County businesses and their hours at SpringfieldZoom.com.
Economic development organizations in Springfield and Sangamon County are working in tandem to help all of our businesses make it through the current COVID-19 shutdown.
A new website, donated by a local Springfield business, will consolidate business information across Sangamon County to keep consumers apprised of the status of their favorite local businesses and their services in one, easily searchable, place.
Any Sangamon County business or organization can simply click on “Register My Business” to get started. It takes less than three minutes for a business to create a free account. Plus they can update their status as the situation changes.
For the public, they can easily search for their favorite businesses to find out their status and whether they can purchase gift certificates, get take-out, etc.
This one-stop website was built and is being donated by Springfield businesses GoWeb1 and AlertsMadeEasy.com, who built it in two days. They are donating this effort for the entire business community in Sangamon County as a free tool to help businesses and organizations quickly communicate their operational status to the public.
All of the partner economic development organizations will market this site as Sangamon County’s one-stop information source for consumers to look up business openings and closings throughout the COVID-19 public health crisis.
CONTACT Val Yazell, City of Springfield Office of Planning and Economic Development Josh Collins, Sangamon Springfield Growth Alliance Chris Hembrough, The Greater Springfield Chamber of Commerce Lisa Clemmons Stott, Downtown Springfield Inc Katie Davison, Innovate Springfield | Macarthur Boulevard Association Chris Long, Local First Springfield Kevin Lust, Illinois Small Business Development Center at Lincoln Land Community College
Downtown Springfield, Inc.
3 W Old State Capitol Plaza, Suite 15
Springfield, IL 62701
P: (217) 544-1723