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Corona Impacts Beginning to Have Economic Impacts in Florida

February 26th, 2020 by Mike Vasilinda

There are no known cases of the Corona Virus in Florida, but it is already having an economic impact on some businesses.

That has the Capitol shifting into high gear.

The Governor spent most of the day behind closed doors, but his schedule showed two corona related events, a call with Governors and a meeting with the State Surgeon General.

Tallahassee based manufacturing company Danfoss Turbocore will suspend production beginning next week because it can’t get parts from China.

The company makes highly efficient commercial air conditioning compressors.

Brett Ewing with First Franklin Financial is a frequent contributor to Bloomberg News on Chinese financial issues.

He said he worst economic impact may be yet to come.

“What we are focused on is its disrupting the supply chains. With the trade war over the last two years, we had a major disruption, and this is compounding those problems,” said Ewing.

The virus could have financial impacts for Florida ports, but Jacksonville Mayor Lenny Curry said that isn’t his first concern.

“We want goods to flow, but the most important thing for me and the people of Jacksonville is that we make sure we are doing everything to keep them safe,” said Curry.

CFO Jimmy Patronis has been in constant contact with the state’s first responders.

“This is no different than a hurricane. We’re doing pre-event staging right now,” said Patronis.

And State Representative Cary Pigman, who is also a first responder and an emergency room physician said the the virus presents unique challenges.

“What’s it’s going to mean if we pick someone up who later is found to have it. How are we going to keep our first responders safe from contamination? How are we going to keep our hospitals safe from contamination? And then how are we going to de-con things?” Said Pigman.

The state’s lodging and tourism association said it hasn’t seen cancellations yet, but it is monitoring the situation daily.

The State Surgeon General is expected to brief a state legislative committee on the virus next week.

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