After ten weeks of consistent downward trending, Alexandria saw its first uptick in new unemployment filings at the end of June.
Data released for the Virginia Employment Commission noted that for the week of June 27, there were 481 new unemployment claims — nearly 100 more claims than the 386 claims filed the week before and the first time new filings have gone up from the previous week since new claims peaked at 2,578 new claims on April 4.
It’s been a rough season for Alexandria businesses.
New data from Opportunity Insights, a Harvard-based team of researchers, shows that Alexandria has fallen lower than its regional neighbors in the percentage change in consumer spending. The data shows that consumer spending across the region started to tank around March 16, when the public schools closed, and for most of the region hit rock-bottom on April 1 when the Stay At Home order went into effect.
In a memo to City Council, the Alexandria Economic Development Partnership (AEDP) laid out the path to recovery for Alexandria businesses as the city prepares to sift through the economic wreckage left in the wake of COVID-19
In a series of short term and longer-term phases, AEDP President and CEO Stephanie Landrum laid out a number of things the city can do to help support businesses in the city struggle to hold on through the pandemic.
Mayor, Sheriff Hand Out Diplomas to High School Seniors — “Yesterday, we announced three more deaths [from covid-19]. We have 26 deaths in the city. Every day, it’s another shoe falling. But this, this is something so positive.” (Washington Post)
Alexandria Economic Development Partnership Creating Local Business Grant Program — “AEDP will pull $2 million out of its ‘Alexandria Investment Fund,’ local incentive cash for retaining and attracting businesses, and then pair that money with federal funding the city received through the CARES Act.” [Washington Business Journal]
ACPS Adjusts Hours for Grab & Go Meals — Beginning on Monday, April 20, meals will be available 9 a.m. to 12 p.m. at Cora Kelly School, Francis C. Hammond Middle School, Jefferson Houston School, T.C. Williams High School and William Ramsay Elementary School. [Twitter]
Scholarship Fund of Alexandria Nearing $50K Goal — “Thanks to the generosity of the Alexandria community, the Scholarship Fund awards approximately $1 million in scholarships to T.C. Williams graduates each year. Most of our scholarships range from $12,000 to $20,000 over four years and can often mean the difference between a student being able to afford college, or simply staying home. Thank YOU for Giving.” [Scholarship Fund]
Alexandria is a good place to weather a recession — potentially good news on a day in which the Dow plummeted more 2,000 points at one point.
The city ranked No. 23 on a new list of the 25 “Most Recession-Resistant Cities” in 2020, according to the website SmartAsset. Nearby Arlington ranked No. 15 on the list.
The City of Alexandria is borrowing money for school projects and the new Potomac Yard Metro station at the lowest interest rates in its history.
The city received just over $200 million in bonds at a 2.67% interest rate, it said in a press release Monday.
