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Jake’s Takes

President & CEO Update

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Economic Snapshot Reveals a Mixed Bag

In our role as the Chamber of Commerce we hear from business owners and operators on a daily basis. Anecdotally, they let us know how business is going for them. With some sharing stories of record revenue and others on the verge of closing their doors permanently, it seems to be a mixed bag.

The latest Economic Snapshot and Business Confidence Survey, produced in partnership with Golden Valley Bank, bear that out.
A computer and a piece of paper with graphs on a tableOverall Redding’s economic performance decreased by nearly 21% in Q2 2020, likely a direct result of the pandemic. However, there are still areas of strength. Sales tax generated in Redding is better than expected. Building activity and the housing market remain strong. Though not explicitly mentioned in the report, Shasta County’s unemployment rate continues to be better than the state’s thanks to more of our businesses able to remain open in spite of the restrictions of COVID-19. Confidence among business owners is up, which serves as a reminder that not all industries have suffered over the past six months.
For the complete Economic Snapshot, please CLICK HERE.
For the complete Business Confidence Survey, please CLICK HERE. 
As a Chamber, we remain focused on assisting businesses who are struggling to survive. You likely recall my write-up from last week in which I shared the substantial commitment made to Shasta County businesses by the Shasta County Board of Supervisors. That application has been LIVE for a little more than 24 hours and already we have received 200 applications from for-profit businesses and nonprofit organizations from every corner of Shasta County. If your business has been adversely affected by COVID-19, you may be eligible for up to a $10,000 grant. For more information, including the grant application, please CLICK HERE.
As I said at yesterday’s virtual State of the City event, it has been an absolute honor to lead the Redding Chamber of Commerce at this time. We must support the risk-takers in our community, those that create opportunity for themselves and for those they employ.

I mean it sincerely when I say I would not want anyone else in this challenging and rewarding role I am privileged to have in our community. Thanks again to all of our sponsors, and public and private partners who have helped us to walk alongside our community of business when they have needed us the most.

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