Economic Outlook 

Experts predict that full economic recovery will likely not occur until at least 2021, though Florida is expected to start seeing some improvement as early as Q3 of this year. Analysis of the effects of the crisis on small businesses continues.  

5/19/20 | Small business layoffs may have hit bottom: Study 

5/19/20 | Bank of America’s CEO doesn’t see the US economy fully recovering until the end of 2021 – but says credit damage has been surprisingly light 

5/19/20 | U.S. economic recovery will drag on through next year, CBO says 

5/19/20 | Consumer spending is down over 16 percent in Florida, and even more in Tampa Bay  

5.19/20 | Americans support small businesses during coronavirus with online classes, takeout 

5/19/20 | Facebook survey shows COVID-19’s devastating effect on small biz 

5/19/20 | 3 factors why this economic bounceback won’t mirror 2008: Commerce Secretary Wilbur Ross 

5/18/20 | Florida Chamber predicting a swift economic recovery after Q2 

5/17/20 Economy week ahead: Japan, CARES Act, Purchasing 

Economic Relief Programs 

New information about federal lending programs has become available. Tampa will open an additional round of relief so that more local businesses can receive benefits. The U.S. House of Representatives has passed a fourth stimulus relief package, the HEROES Act. 

5/19/20 | Coronavirus PPP loan recipients may get extension of 8-week window to use funds, McCarthy says 

5/19/20 | Tampa to open second round of relief funding, with looser restrictions to help more businesses 

5/19/20 Powell says Main Street Lending Program will be up and running by June during Senate hearing over CARES Act spending 

5/16/20 | The bill passed for second stimulus check and hazard pay for essential workers 

5/15/20 SBA releases instructions to calculate PPP loan forgiveness 

Local Business Updates 

Businesses continue to work towards reopening safely around the state. 

5/19/20 Coronavirus: Florida surpasses 2,000 total COVID-19 deaths 

5/19/20 St. Pete will join Pinellas County in allowing movie theaters to reopen   

5/19/20 | Pinellas County leaders give the go-ahead for movie theaters, bowling alleys to reopen 

5/19/20 | Tampa Mayor Jane Castor, city council to discuss closing part of Bayshore Boulevard for pedestrians 

5/19/20 Duval County School Board to vote on providing PPE to all students, staff 

5/19/20 Panhandle counties open for vacation rentals 

5/19/20 | Reopening Florida: Disney Spring return comes with a warning about risk 

5/18/20 | Reopening Jacksonville: Mayor highlights plan for restaurants, public buildings 


A selection of helpful strategic resources from the Tampa Bay Business Journal and Inc. on how to safely transition employees during this reopening phase.  

5/18/20 | Fear of returning to work: When you’re ready but your employees are not 

5/15/20 | HBR: Lead your team into a post-pandemic world  

5/15/20 | Reopening your business: 3 pitfalls to avoid 

5/15/20 Guest column: Five things Tampa businesses should consider before bringing employees back to work 

Numbers as of End-of-Day 5/19/20 

There have now been 46,944 cases throughout the state of Florida and 2,052 deaths.  

Totals by county: 

Duval: 1,318 cases and 36 deaths 

Hillsborough: 1,670 cases and 60 deaths 

Orange: 1,699 cases and 38 deaths 

Pasco: 327 cases and 12 deaths 

Pinellas: 1,062 cases and 71 deaths 

Polk: 766 cases and 45 deaths 

For updated data, visit:  




Florida Department of Health:    

U.S. Chamber of Commerce:    

Florida Chamber of Commerce: 

Tampa Chamber of Commerce: 

Jacksonville Chamber of Commerce: 
Lakeland Chamber of Commerce: 

St. Pete Chamber of Commerce: