Innovation and adaptation: What this could mean for education post-pandemic

Innovation and adaptation: What this could mean for education post-pandemic

By: Beatrice Silva

2 min read September 2020 — The pandemic forced educational institutions to pivot all of their operations to a completely virtual landscape. Many university leaders were planning on returning to normalcy at some point in the upcoming months, but that looks increasingly unlikely. The keys to a successful academic future are in the hands of those educators who are willing to adapt and use innovative technology to their advantage. 

For the majority of universities the rapid transition into an entirely digital world came as a rude awakening. It showed just how fragile the framework of higher education could be without a contingency plan in place. Nevertheless, within days institutions like Drexel University and  Rowan University worked tirelessly to develop new strategies that would not only keep them afloat but would help unify the educational community.  

“Between the financial impact of COVID, the demographic changes, the situation in terms of bringing international students here, and with so many constraints on the system … institutions are really going to have to step back and begin to rethink their model because the sector is not going to be spared continued disruption going forward,” John Fry, president of Drexel University, told DrexelNOW. “More than ever, partnerships — or joint ventures, or mergers, or whatever you want to call them — are the way to go. I think the sector is going to see an almost healthcare system-like response to what’s going on. Healthcare started on its own consolidation and rethinking its model decades ago and it’s obviously still in the middle of it. I think it’s time for higher ed to go through the same types of dynamic changes. I think you’re going to see fewer institutions. I think you’re going to see more networks of institutions. I think you’ll see more hybrid, more online. Hopefully we keep face to face, but that’s just part of what we do.

As Fry mentioned, in the years to come, almost the entirety of higher education’s traditional model could be shifted, not only the logistics concerning profitability but also the student’s overall learning experience. Despite implementations caused by COVID-19, it seems as if a new institutional network was inevitable. Even before the recent pandemic, consumers have been transitioning into the digital realm. Students and parents had started craving alternative options for higher education that involve more flexibility, innovative delivery models and seamless transitions between face to face lectures and online learning. 

Universities are starting to require students to download applications like the DUO, a two-factor authentication system, that helps with the onboarding process. The software works with third-party technology providers to verify a student’s identity. Biometric tools, commonly used by financial technology corporations, are also gaining popularity in this space. “New users will now be asked to take selfies before uploading them to the (UK fintech company) Curve platform alongside pictures of their driver’s license, passport or other official ID documents. FinTech will then use its partner’s biometric capabilities to compare the two images and verify potential customers’ identities,” according to PYMNTS, a B2B platform for the payments industry. 

During this period of evolution, sound insights and collaboration between the public and university leaders will be pivotal for the education sector’s success. To learn more about the future of education in South Jersey, register now for the Invest:South Jersey 2020 Virtual Launch Conference. The conference takes place on Oct. 8 at 11:30 a.m. The virtual conference will feature two robust panels, including “Innovation and adaptation: What this could mean for education post-pandemic,” moderated by Marlene Asselta, president of Southern New Jersey Development Council, and featuring Frederick Keating, president of Rowan College of South Jersey, Monica Adya, president of Rutgers School of Business at Camden, and Barbara Gaba, president of Atlantic Cape Community College. 

To learn more, visit:

https://zoom.us/webinar/register/WN_z34pLBUwQlSCObV80dyE7w

Invest: South Jersey 2020 Press Release

Invest: South Jersey 2020 Press Release

By: Beatrice Silva

FOR IMMEDIATE RELEASE 

September 4, 2020

South Jersey’s economic resilience in the face of unprecedented challenges to highlight the launch of the inaugural edition of Invest: South Jersey 2020.

CHERRY HILL, NJ    Capital Analytics’ in-depth research into the South Jersey market has never been more important. Invest: South Jersey, one of an annual series of business reports from media platform Capital Analytics, offers comprehensive business intelligence during a time of economic uncertainty. With 136 pages of thoroughly researched analysis, the inaugural edition of Invest: South Jersey 2020 highlights the economic opportunities in the South Jersey metro area through C-level insider insights and key business intelligence. 

The official launch of the publication will take place on Thursday, Oct. 8, at 11:30 a.m. via Zoom Webinar. This event will consist of a brief introduction by Capital Analytics’ CEO Abby Melone, followed by two robust panel discussions.

The panels will address the current economic climate as well as prevailing themes dominating the South Jersey metro area’s economy: education and business growth in the time of a pandemic and the future of development in South Jersey. Southern New Jersey Development Council President Marlene Asselta will kick off the virtual conference as the moderator for  “Innovation and adaptation: What this could mean for education post-pandemic,” which will feature insights from Rowan College of South Jersey President Frederick Keating, Rutgers School of Business at Camden Dean Monica Adya and Atlantic Cape Community College President Barbara Gaba. The second panel, “Best practices to promote sustainable business growth in a post-pandemic landscape,” will be moderated by Chamber of Commerce Southern New Jersey President & CEO Christina Renna, and will feature Fox, Penberthy & Dehn at Morgan Stanley Senior Vice President & Executive Director Al Fox, OceanFirst Bank Southern Region President Vincent D’Alessandro, TD Bank Market President of South Jersey Robert Curley and Alloy Silverstein Managing Shareholder Reynold Cicalese. Hundreds of high-level guests and officials from South Jersey’s key industries and economic institutions will be tuning into the event. We are inviting all attendees and those wanting to register for the event to participate in the following survey, the results of which will be presented at the Invest: South Jersey 2020 launch conference. 

“South Jersey was an important expansion for us because it is a unique and dynamic area that functions with the greater Philadelphia region. Our South Jersey expansion showcases how metro areas are more than just cities but rather a diverse ecosystem made up of many companies, locations and environments. Despite the challenges put upon us by COVID-19, Capital Analytics remains steadfast in our purpose: to deliver in-depth business intelligence through its print and digital platforms. Now more than ever, information is not only necessary, it is vital,” said Abby Melone, president and CEO of Capital Analytics. 

***

About Capital Analytics & Invest: South Jersey

Capital Analytics is an integrated media platform that produces in-depth business intelligence through its annual print and digital economic reviews, high-impact conferences and events and top-level interviews via its video platform, Invest: Insights.

Invest: South Jersey is an in-depth economic review of the key issues facing South Jersey’s economy, featuring the exclusive insights of prominent industry leaders. Invest: South Jersey is produced with two goals in mind: 1) to provide comprehensive investment knowledge on the South Jersey region to local, national and international investors, and 2) to promote South Jersey as a place to invest and do business.

The book conducts a deep dive into the top economic sectors in the county, including real estate, construction, utilities and infrastructure, transportation and aviation, banking and finance, legal, healthcare, education, and arts, culture and tourism. The publication is compiled from insights collected from more than 200 economic leaders, sector insiders, political leaders and heads of important institutions. It analyzes the leading challenges facing the market and uncovers emerging opportunities for investors, entrepreneurs and innovators.

To register or learn more, go to:  https://zoom.us/webinar/register/WN_z34pLBUwQlSCObV80dyE7w

For more information, contact: 

Max Crampton-Thomas

Regional Editor

305-523-9708 Ext: 233

Students face remote learning in return to school

Students face remote learning in return to school

By: Beatrice Silva

3 min read August 2020 — As COVID-19 cases continue to rise, so does the number of universities keeping their physical doors shut this school year. The University of Notre Dame Princeton University, and Rutgers-Camden Business School are just some of the institutes that announced their decision to go fully online. 

Just as businesses needed to pivot during the pandemic and subsequent recession, educational institutions also had to find a way to adapt. “It is an unprecedented event that took us all by surprise,” Dean Monica Adya of Rutgers-Camden Business School told Invest: South Jersey. “We established a COVID-19 task force that includes all of my cabinet members, to look at how to proceed. One of the first things we did was to look at our emergency management plan that tackles infectious diseases, among other things. We focused on operational and communication measures. The former is relative to academic and business continuity. As Gov. (Phil) Murphy enacted the executive order stating that no one was to come to campus, we moved to an online format for all classes. Fortunately, several of our programs were already entirely online. Many of our students were already taking a combination of online and in-class programs, making them familiar with the online platform. We are sparing no resources or action plans to make sure our students get through this semester. We are also launching discussions about recovery, how we are going to help people who are out of work to get back into the workforce, and what specific programs and certificates they will require for that to happen in the shortest of terms.” 

Most students experienced a taste of distant learning back in April when schools were forced to close after lockdowns were issued across the United States. However, that doesn’t make it any easier for undergraduates, postgraduates, and faculty members to pick up where they left off. “We had some challenges on the student side because many students, although we think of them as a digital generation, had difficulty making the switch to online learning.  We’ve worked through much of this but it took some time,” Mike Mittelman, president of Salus University, told Invest: Philadelphia.

Innovation and technology play a huge role in how higher education continues to operate. Virtual learning experiences have replaced physical classrooms and face to face lectures. The new format has left some students feeling overwhelmed and quite frankly ripped off. At Rutgers University, more than 30,000 people have signed a petition started in July calling for an elimination of fees and a 20 percent tuition cut, according to The New York Times

Student housing is another topic of debate in the education community. While some institutional leaders don’t believe it’s safe, others argue that students don’t have anywhere else to go.  Schools, like The University of Pennsylvania and Temple University, are allowing a limited number of students back on their grounds but under strict conditions. Most schools that are letting students live in dorm rooms or attend in-person classes are actively enforcing social distancing, face masks and have provided COVID-19 tests. At Drexel University, international students or students who are experiencing financial hardships will be the only ones allowed to live on campus. 

Along with the many challenges the pandemic caused, it also created new opportunities. COVID-19 pushed educational institutions out of their comfort zones. To stay in business, universities adapted to new technologies and even formed a few alliances along the way. “This whole industry has shifted very, very quickly, so that shows that there’s flexibility, it shows that there’s resilience,” John Fry, president of Drexel University, told the Philadelphia Business Journal. “Those adaptations are incredibly valuable assets and institutions should hold on to that and not say, ‘Once this is over, we can go back to the way it was.’ Going back to the way it was, I think, is not a good idea.” 

South Jersey, Philly Industrial real estate a hotbed for investors

South Jersey, Philly Industrial real estate a hotbed for investors

By: Beatrice Silva

2 min read August 2020 — Even before the pandemic, billions of consumers had already been shopping on e-commerce sites like Amazon for years. But the pandemic is accelerating the platform’s growth as more and more people pivot away from physical stores. Shoppers say that there is something extremely gratifying about clicking a button and having a product delivered to their door the very next day. That’s music to the ears of those in the industrial real estate segment, as companies see an increasing need for distribution space.

When COVID-19 started to rapidly spread around the world, digital buying was no longer just a trend but a necessity. U.S. online sales grew 76% in June, reaching $73.2 billion that month, according to Digital Commerce 360. As a result, industrial real estate became even more of a hotbed for investment. Warehouses and distribution centers provide companies like Walmart and Target the local space they need to get purchase orders out to their customers quickly and efficiently.

To offer consumers fast shipping, a large majority of the industrial real estate is located near key transportation hubs like seaports, highways, railroads and airports. That’s one of the reasons why a handful of out-of-state investors like Peter Lewis, president and founder of Coastal Realty LLC, have started building their industrial portfolios in the Northeast. Lewis explained to the Philadelphia Business Journal why his firm has increased their industrial properties in South Jersey: “These middle-market companies are going to start transitioning to becoming much more sophisticated online,” he said. “They have to. What that means is they’re going to require more warehousing, which is what our property offers. I continue to see a real demand for warehousing in densely populated areas. It’s going to be all the way from the 4 million-square-foot guys to the 2,500-square-foot guys,” said Lewis. Coastal Realty recently teamed up with Walton Street Capital to buy a 32-building industrial portfolio in Pennsauken. 

 

South Jersey and Philadelphia are lucrative areas because of their unique placement between Washington and New York. “The overall demand for warehouse space has continued to remain strong, especially with the uptick in e-commerce and the expectation by the consumer to have goods in their hands as quickly as possible. When Amazon Prime was introduced, two days for delivery seemed fast and quickly became the norm. We are now finding that next-day delivery, if not same-day delivery, is an integral part of the supply chain that is driving a lot of companies to look for warehouse space in South Jersey. The new speculative and build-to-suit development in our market has been mostly in the northern parts of Burlington County and the southern parts of Gloucester County,” Ian Richman, senior managing director of Southern New Jersey Colliers International, told Invest: South Jersey 2020. 

As long as there is a continued increase in consumer spending, the demand for retail space and other commercial activities like distribution centers, in theory, should rise. 

To learn more, visit: 

https://www2.colliers.com/en

How the aviation industry is weathering COVID-19 turbulence

How the aviation industry is weathering COVID-19 turbulence

By: Beatrice Silva

2 min read July 2020 — Summer this year is drastically different. Instead of hopping on planes to visit friends and family or finally embarking on that European adventure, the majority of frequent travelers are staying put, at least for the time being. It started to become apparent around the second week of March that the novel coronavirus would have a severe impact on the air transport industry. Even some of the busiest airports like Philadelphia International are feeling the weight of uncertainty. Nevertheless, the aviation industry continues to push forward. New air travel innovations have emerged and some airlines have even rediscovered ways to use their aircraft as they weather the turbulence. 

Greater Philadelphia is the eighth-largest metropolitan area in the United States and is located in the middle of one of the largest catchment areas with passport holders spanning from South Jersey all the way to New York, according to PHL CASRIP.  Philadelphia International Airport is the only international airport that not only serves Philly but the northeast region as a whole. Just last year, the PHL welcomed more than 33 million passengers. It was the largest amount of traffic the airport has ever seen and what makes that figure even more impressive is that fact that there are 29 other airports within a 50 mile radius. So while it may take years for the airport to return to those 2019 levels, there is still hope for air transportation. On July 16, American Airlines and JetBlue announced their strategic partnership that will create seamless connectivity for travelers in the Northeast. This will help to provide more choices for passengers across their complementary domestic and international networks.

Our innovative partnership will allow us to compete in the New York market where American and JetBlue have traditionally been third and fourth. This partnership will allow us to coordinate schedules so we can provide customers better connectivity, capitalizing on JetBlue’s strengths in the New York market and American’s strengths as a long-haul carrier. Ideally, we envision a time where our passengers can travel into New York on JetBlue and connect with American Airlines for a long-haul flight out of JFK. So it opens up a tremendous amount of new markets to both JetBlue and American customers, complementing our trans-Atlantic gateway in Philadelphia,” Jim Moses, vice president for American Airlines PHL Hub Operations, told Invest: Philadelphia. 

Forming strategic partnerships with the competition is just one way airlines are navigating the pandemic. A majority of aviation companies are also adjusting their travel schedules, waiving ticket alteration fees and offering flights at a much lower fare. When it comes to cleanliness airlines are making sure to broadcast their meticulous efforts. Major U.S. airlines like Delta, American, JetBlue and United are in close contact with health agencies such as the World Health Organization and the Centers for Disease Control to make sure their guidelines for cleaning their aircraft cabins are up to par. 

As for Philadelphia International Airport, customers and employees are required to wear marks. Their TSA screening process has been modified to protect passengers and new touchless check-in technology has started to emerge. PHL also launched an initiative that offers airlines financial stimulus to encourage carriers to fly to certain destinations and to expand their cargo services. “PHL believes that this rapid injection of relief and growth will jumpstart the entire airport ecosystem, thus benefiting the Philadelphia region,” Stephanie Wear, director of air service development and cargo services, told Airport Experience News. “From concessions to ground transportation to tourism and commerce, the halo effect of increased air travel will create immediate wins for all airport stakeholders.” 

Capital Analytics Highlights South Jersey’s Business Growth

Capital Analytics Highlights South Jersey’s Business Growth

Invest: South Jersey offers economic insight in a time of uncertainty

July 6, 2020

FOR IMMEDIATE RELEASE

 

 

CHERRY HILL, NJ – Capital Analytics’ in-depth research into the South Jersey market has never been more important. Invest: South Jersey, one of an annual series of business reports, offers comprehensive business intelligence during a time of economic uncertainty. Invest: South Jersey dives into the top economic sectors in the county, including real estate, construction, utilities and infrastructure, transportation and aviation, banking and finance, legal, healthcare, education, and arts, culture and tourism. The publication features exclusive insights from industry leaders, sector insiders, political officials and heads of important institutions. It analyzes the leading challenges facing the market and uncovers emerging opportunities for investors, entrepreneurs and innovators.

“South Jersey was an important expansion for us because it is a unique and dynamic area that functions with the greater Philadelphia region. Our South Jersey expansion showcases how metro areas are more than just cities, but rather a diverse ecosystem made up of many companies, locations and environments. Despite the challenges put upon us by COVID-19, Capital Analytics remains steadfast in our purpose: to deliver in-depth business intelligence through its print and digital platforms. Now more than ever, information is not only necessary, it is vital,” said Abby Melone, President and CEO of Capital Analytics. 

Over seven months, the Capital Analytics team conducted extensive research and interviewed over 200 high-profile industry leaders such as; Steve Sweeney, New Jersey’s Senate President, Marty Small, Mayor of Atlantic City and Michael Snyder, Director of Operations for Visit South Jersey. Through their research, the Capital Analytics team identified significant business insights that will serve as important knowledge benchmarks for investors, entrepreneurs and innovators. The publication is the first and most comprehensive report on South Jersey’s vibrant business climate, as seen through the eyes of those at the forefront of their sectors.

“Over the course of our seven-month research period, we were given the ability to truly peel back the curtain and discover what has gone into making South Jersey the hotbed for investment that it has become. What we found was that this economy has not only flourished thanks to cross-sector collaboration but also because of thoughtfully calculated community efforts to raise South Jersey’s status as a preeminent destination for both economic and social prosperity,” said Max Crampton-Thomas, Regional Editor of Capital Analytics. 

 

About Capital Analytics:

Capital Analytics produces in-depth business intelligence with a focus on providing comprehensive investment knowledge on markets within the United States for the domestic and global business community. Over a seven-month research period, it meets with more than 200 top political, commercial and industry leaders to deliver targeted information, in-depth analyses and strategic insights to the global business community on economic trends and investment opportunities.

Its first publication, Invest: Miami, has a global readership and includes among its readers top executives working in real estate, finance, technology, trade and logistics, health, hospitality and others. Books are distributed locally, nationally and globally to trade and investment boards, executives of Fortune 500 companies, institutional investors, consulates and embassies, hedge funds, leading chambers and associations, as well as high-level summits and conferences.

 

 

For more information contact 

Max Crampton-Thomas 

Regional Editor

mcthomas@capitalaa.com

TEL: 305-523-9708 ext 233

How South Jersey is celebrating the 4th of July during the pandemic

How South Jersey is celebrating the 4th of July during the pandemic

By: Beatrice Silva 

2 min read – Celebrating Independence Day is a big deal for most Americans. The Fourth of July officially became a national holiday in 1870. Then in 1941, a provision was expanded, making it a paid day off for all federal employees. People across the nation celebrate by setting off fireworks, watching parades, and having casual BBQs with their friends and family. This year however, festivities are going to look a lot different due to the constantly evolving COVID-19 virus. 

South Jersey skies will sparkle slightly less than they have in previous years, as most towns have canceled their usual spectacles. However, that doesn’t mean the holiday is completely up in smoke. There are still quite a few CDC-regulated activities you can enjoy that will keep you safe while satisfying your patriotic urges. Invest: South Jersey explores five of the top things to do this Fourth of July weekend during a pandemic. 

Middle Township Fireworks 

Mayor Tim Donohue let freedom ring when he decided to reverse his decision to cancel this year’s fireworks display. The town’s annual celebration will be held at dusk on Saturday, July 4 and gates will open one hour before start time. People are encouraged to wear masks and practice social distancing. The fireworks will also be streamed on the Middle Township Facebook page for anyone who wants to enjoy the festivities from the comfort of their home. 

For more information visit: https://www.facebook.com/photo.php?fbid=10217619152931637&set=a.1465495198362&type=3

Burlington County Virtual Contests 

Bordentown Township, Medford and Riverton have all canceled their fireworks celebrations. However, county officials are still encouraging their residents to hold family picnics on their lawns or driveways at 4 p.m. on the Fourth of July. They hope these festivities will help unite their community while still practicing safe social distancing. Officials also announced that they will be holding virtual house decorating, patriotic costumes and pet pageant contests. Contestants are asked to submit photographs of their entries. The winners will be announced on riverton4thofjuly.com, Facebook, and Instagram. 

For more information visit: https://www.riverton4thofjuly.com/covid

Ocean Gate 4th of July Parade

On June 20, Ocean Gate borough took to Facebook to announce that it will still be hosting its annual July Parade. Registration for the parade opens at 8 a.m. on July 4, at Adrian Hall. Try to come early because only a limited number of people will be allowed into the building at one time. The July Parade begins at 10 a.m. on Ocean Gate Avenue. To encourage social distancing, the parade route will be extended this year.

For more information visit: https://www.jerseyfamilyfun.com/event/independence-day-parade-oceangate/

North Wildwoods Family Parade, Kite-Flying Competition and more 

A few towns in Cape May County have canceled their celebrations but not Wildwoods. Independence Day Family Parade will begin at 9 a.m. at 9th and Atlantic Avenue in North Wildwoods. A barbeque will then be held from 3 p.m. to 7 p.m. for a minimum donation of $8. Fourth of July fireworks will be held on the beach at Rio Grande Avenue. Since the fireworks can be viewed from almost anywhere on the Wildwoods Boardwalk, visitors have been encouraged to enjoy the show from a distance. Anyone who is participating in the celebrations is required to follow CDC regulations. 

For more information visit: https://wildwoodsnj.com/events-calendar/?month=7-2020

Virtual Fourth of July Festivities

Celebrating a holiday from the comfort of your home has its perks, especially during these unprecedented times. For starters, you won’t have to worry about parking or overpriced drinks if you are hosting a small gathering at your house. Also, a majority of cities across the country are streaming their festivities live so anyone can join the fun no matter where you are. For example, viewers will be able to watch Houston’s “Shell Freedom Over Texas” at 8 p.m. Eastern on ABC12.com. The show will include performances by the Houston Symphony and country singer Pat Green. To make your at-home experience even more thrilling, try setting off a few fireworks from your backyard or get creative and decorate your front porch. We’re sure the neighborhood will enjoy your efforts as well.  

The Post-Pandemic City

The Post-Pandemic City

By: Abby Melone, President & CEO, Capital Analytics

It’s a truism in today’s hyper-connected world that people go where the jobs are, more so now than ever before. But what happens when your job suddenly can be done from anywhere?

 

The 19th century ushered in the first and second Industrial Revolutions that saw more and more people move to urban environments, precisely because that’s where the jobs were. In the United States, the rise of manufacturing opened a new world of employment possibilities, pushing people from the farm to the factory. It’s a push that in one way or another continued into the 20th and 21st centuries. The result is seen today in the population densities that cram big cities from coast to coast, border to border.

According to the United Nations’ World Urbanization Prospects report and the website Our World in Data, the world crossed over in 2007. That’s the fist year the number of people living in urban areas rose above the number living in rural areas (3.35 billion versus 3.33 billion). In the United States, around 82.3% of the population lives in urban areas, according to the World Bank. Growth trajectories project a steady increase in urbanization as far out as 2050. 

Today, the millennial generation is changing the character of urbanization by spearheading the live-work-play ethos. This generation prefers to skirt the traffic jams and live and play near where they work. The goal to have it all close by has given rise to the mixed-use building concept that puts everything – your living options, your entertainment choices and your shopping – all in one convenient location, which preferably, is near your workplace. 

It also means we are all living closer to each other in smaller and smaller spaces. That seemed to suit a lot of people just fine. Then the COVID-19 pandemic happened, and all of sudden, none of that seemed fine at all.

The pandemic resulted in shelter-in-place orders that forced people to live 24 hours a day in their homes while also working from their home offices, if they had one, or their kitchen tables if they didn’t. The very idea of needing to go somewhere else to do your job turned out to be not so much of a necessity after all. In just a few months, priorities appear to have shifted. Now, many of us seem to crave space, the great outdoors, and we seem to be split 50-50 on whether we want to continue working from home, wherever we choose that to be, or prefer an official office setting, mostly for the socializing.

There is little doubt that the world has changed as a result of the pandemic. Most experts are puzzling on whether that change will last and just what our cities will look like as a result. The fact is, though, that change was already in play before COVID-19 hit.

My company focuses on nine major U.S. markets like Orlando, Miami, Atlanta and Philadelphia. We talk to industry and political leaders to understand the issues their communities face to gauge the direction in which they are moving. Today, everyone is talking about the pandemic’s impact on the retail sector, for example. Yet, e-commerce was already a thing before COVID-19. In 2019, a record 9,800 stores were shuttered, according to a Bloomberg report, with 25,000 closures expected in 2020 due to the coronavirus impact, the report said, citing Coresight Research. Yes, that’s a devastating impact, but the pandemic really has only accelerated the pace of implementation. It pushed more people online immediately, but those people were likely headed there anyway.

Many of the leaders we have spoken with during the pandemic agree that retail and commercial real estate was already undergoing a slowdown as industrial space to accommodate last-mile delivery for the Amazons of the world was booming. Many expect this trend will continue.

More importantly, what the pandemic has done has caused a rethink of priorities among individuals and it is this impact that will likely shape the post-pandemic city. Living in lockdown awakened people to the “smallness” of their space, forced on them by a combination of convenience and higher and higher housing prices in big cities. The median listing price for a home in Miami-Dade, for example, was $465,050 in May compared to the average U.S. listing price of $329,950, according to the Federal Reserve Bank of St. Louis. Interestingly, population growth in Miami-Dade was already slowing as more people moved out, with escalating living costs among the factors. With the pandemic highlighting the risks of living so close together, will more people decide that farther away is not only cheaper, but safer?

Big city living will change in the post-pandemic world as social distancing forces “people places” like gyms and restaurants to accommodate lingering fears from the virus. Tens of thousands of small businesses have already closed down for good, clearly altering the very unique characteristics of cities that attracted people in the first place.

The biggest impact, however, will be on how – and where – jobs are done. Remote working is hear to stay in some form or another. Like the industrial revolutions of the 18th and 19th centuries, people will always go where the jobs are. For many, those jobs will now be done from home, which means that home can be virtually anywhere. It creates choice like never before, and this will dramatically alter the character, although not likely the course, of urbanization. That’s an important difference. 

Big cities have seen the ebbs and flows of population growth before and will likely see them again. Through it all, they have more often thrived than not. The post-pandemic city may look and feel a bit different – the way condo units are built, for example, may change to accommodate working from home, while adding elements like air filters to battle any future virus outbreak – and there may even be a greater push to the suburbs in the short term. Overall, however, continued urbanization likely will remain on the cards. If we’re lucky, there may just be a little more distance between all of us.

 

Florida and Pennsylvania unemployment claims level off as economies slowly reopen

Florida and Pennsylvania unemployment claims level off as economies slowly reopen

By: Beatrice Silva 

3 min read June 2020 — As of June 5, most of Florida has taken the next step of reopening the economy that was devastated by COVID-19. Unemployment figures are starting to level off as businesses slowly start to open up again. On June 6, the U.S. Department of Labor saw its lowest figure for new unemployment claims since March 26. However, the sunshine state’s economy isn’t in the clear just yet. Florida has the fourth highest unemployment claims in the U.S. To make matters worse, some Floridans are still struggling to collect their unemployment benefits. 

 

 Since March 15, the Florida Department of Economic Opportunity (DEO) has paid out $1.5 billion in state claims and another $4.6 billion in federal unemployment benefits. Approved applicants should be getting $600 per week from federal benefits plus the state’s additional $275 weekly benefits. Unfortunately, issues resulting from an influx of people filing for benefits has caused the Florida DEO’s website to crash on multiple occasions. On April 15, Gov. Ron DeSantis placed Jonathan Satter, Florida Department of Management Services secretary, in charge of fixing the state’s unemployment benefits system. As a result, a new mobile-friendly website was born. People can now submit an application on the new website if they don’t currently have an open unemployment benefits claim on file. 

 

Different markets were hit particularly hard by the COVID related economic slowdown. The transportation and hospitality sectors are expected to take the longest to get back on their feet.

“There are a couple of key industries that will be greatly impacted the longer this goes, especially tourism and real estate. On the positive side, there is a significant number of secondary markets in Florida. Traveling overseas will likely not be as popular in the next couple of years, speaking well for these secondary markets. Challenges do drive opportunities and developers might take cues from the latter. Hospitality and tourism will continue to suffer and will likely require continuous stimuli the longer this continues,” said Blain Heckaman, CEO for Kaufman Rossin in an interview with Invest: Miami. 

 

Florida isn’t the only state feeling economic pressure as a result of COVID-19. Northeastern regions of the United States that were hit particularly hard by the virus, like Pennsylvania and New York, have also started reopening nonessential businesses in an effort to jumpstart the economy. Since March 15, the Unemployment Compensation department has paid over $16.4 billion in state and federal unemployment compensation benefits, according to Pennsylvania’s government website. The state is also preparing to activate an unemployment program that would extend benefits for up to 13 more weeks for eligible individuals. The last time Pennsylvania initiated the extended benefits program was during the fallout from the Great Recession in 2009.

 

Pennsylvania Gov. Tom Wolf is taking a three-phase, regional approach to reopening the state. The system consists of red, yellow and green phases that are then applied to individual counties. Red is the most restrictive and green is the least. On June 5, Wolf allowed 34 counties to transition into the green phase. Although most restrictions are lifted during this final phase, people are encouraged to follow CDC guidelines. Businesses like gyms, hair salons and indoor recreation centers that remained closed in the yellow phase can start to reopen at 75 percent occupancy. There are still 33 Pennsylvania counties in the yellow phase, which serves the purpose of slowly powering up the economy while still trying to contain the spread of COVID-19. 

 

Gov. Wolf has publicly voiced his desire for Pennsylvania to reopen. However, he warns business owners not to open up too early. “By opening before the CDC evidence suggests you’re taking undue risks with the safety of your customers. That’s not only morally wrong, it’s also really bad business. Businesses that do follow the whims of local politicians and ignore the law and the welfare of their customers will probably find themselves uninsured because insurance does not cover things that happen to businesses breaking the law,” Wolf said during a press conference. 

 

To learn more visit…

 

https://kaufmanrossin.com/

 

https://www.baynews9.com/fl/tampa/news/2020/06/15/florida-unemployment-benefits-update

 

https://www.miamiherald.com/news/business/article243450076.html?

 

https://www.pa.gov/guides/unemployment-benefits/