The far reaching effects of the Coronavirus pandemic

 In May 2020

Share this story:

There are no positives to a global pandemic that cost more than 45,894 American lives, including at least 253 in North Carolina, as of April 23. But seeking meaning, solace and even humor was vital as everyone became experts on social distancing and epidemiology. Here are some manifestations with particular relevance to the Old North State.

grocery-bag_gettyimages-171583541

Grocery growth

Asheville-based Ingles Markets is expanding its staff by 19%, or 5,000 workers, at its distribution centers and 198 stores. Food Lion expected sales to jump 14% in the first quarter. Kroger subsidiary Harris Teeter also planned 5,000 new hires.

swab_gettyimages-1214320123

Self testing

Burlington-based LabCorp released a $119 nasal-swab device for at-home testing, the first authorized by the U.S. Food and Drug Administration.

airport_gettyimages-507652671

Grounded

Traffic at N.C. airports fell by more than 90%. Uncle Sam responded with $238 million in relief, including $18 million apiece for the Greenville and New Bern terminals.

tiger_gettyimages-1075940694

Joe Exotic

About 64 million households tuned into Tiger King, a Netflix documentary about a big cat owner convicted of hiring a mercenary to kill an animal rights activist. The plot didn’t work out, but Joseph Maldonado-Passage gained national attention.

associate-wearing-ppe-2

Jeff Bezos

Demand for Amazon delivery services soared along with its stock. CEO Jeff Bezos’ net worth jumped more than 20% to $138 billion. The online retail giant planned to add about 2,000 more N.C. employees as of mid-April.

zoom_gettyimages-1088250982

Zoom

Upstart Zoom Video Communications rivaled giants Google and Cisco as a top at-home video-conferencing platform, creating a $40 billion market cap business.

cone_gettyimages-503342003

No traffic

The N.C. Department of Transportation laid off 300 workers and delayed 88 major projects. Revenue from gas and vehicle sale taxes evaporated.

unemploymnet_gettyimages-182396779

Disappearing jobs

More than 720,000 workers filed coronavirus-related unemployment claims in N.C., forcing the state government to add 1,100 staffers to handle the flood of applications.

closed_gettyimages-640941188

Empty diners

More than 361,425 employees at the state’s 19,504 restaurants were idled. Restaurateurs were restricted to takeout and delivery only under the statewide stay-at-home order.

money_gettyimages-185211785

State budget

Early estimates are that tax revenue will decline as much as 5% in the 2021 fiscal year, resulting in a possible $2.5 billion hit to state coffers.

loan_gettyimages-1217502528

State makes loans

The N.C. Rural Center and Golden LEAF Foundation created a state-backed bridge loan program expected to provide as much as $90 million in emergency funding for the state’s small businesses, with an interest cap of 4%.

bills_gettyimages-160142915

Federal government opens spigot

Nearly 40,000 businesses in North Carolina were approved for about $8 billion from the $349 billion Paycheck Protection Program. A second round of $310 billion promised more no-interest, forgivable loans to small businesses.

education_gettyimages-1135166978

Higher ed help

North Carolina’s 142 colleges and universities received a total of $378 million from the $14 billion allocated to higher education from the CARES Act as of April 22.

app_gettyimages-1172134525

Epic Games

The Cary game developer’s video chat app Houseparty was downloaded 50 million times in March, making it the most popular social networking app in Apple’s app store.

percent_gettyimages-1156788245

Market cap

North Carolina’s 10 biggest public companies lost a combined $224.8 billion in stock market valuation during the first quarter.

Recent Posts
Contact Us

Questions or feedback? Drop us a message!

Start typing and press Enter to search