How can Ohio businesses start to recover from COVID-19 shutdown?

Five on 2

DAYTON, Ohio (WDTN) –Many of the coronavirus restrictions for businesses are being lifted. Indoor dining for restaurants can resume Thursday and 90 percent of Ohio’s economy will be open by the end of the month.

Dr. Jeffrey Haymond, an economics professor at Cedarville University, joined 2 NEWS to talk about the state’s economic forecast. He says production is key as the state looks to start the economic recovery process.

“Opening up is going to be the solution that’s going to get us out from this. We can have a lot of discussion about whether we need stimulus, other kinds of things like the politicians are talking about in D.C., but this is the starting point for us to be able to come out of this coronavirus slowdown,” he said.

He goes on to say that we will likely see a slow start as businesses and industries reopen but we should see an acceleration as the summer goes on.

“In the near-term, I think businesses could really benefit from some sort of release from some more aggressive liability concerns. For instance, right now if a worker were to get the flu, their employer wouldn’t be sued for them getting the flu. There are some concerns like that for this, yet we’ve got to have safety in this new environment. How do you balance those things?”

Dr. Haymond adds that the recovery of some businesses will also be impacted by when any partner or supplier companies come back online, if they haven’t already.

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