There is now enough data to begin to forecast the economic impact of COVID-19 on the City of Grapevine's revenue. In this analysis we have chosen to focus primarily on the top five industries (at the two-digit NAICS level) which represented 80% of the city's revenues in 2019:
The impact estimates outlined in this dashboard are derived by the recent Deloitte report which points to an 8.3% dip in GDP for 2020. There are bigger impacts realized across different sectors, those most vulnerable to impact for structural reasons, retail and hotels among them. We have attempted to account for this in this analysis.
Looking at the unemployment picture in the State of Texas overall is helpful in understanding how Grapevine may be experiencing its own local effects of this unprecedented health and economic crisis:
Navigating out of this recession is a key focus, and this analysis includes a forecast through 2022 including areas of potential strategic gain as the global economy reorders itself.