Cleveland has lost millions in revenue due to COVID-19, and nosedive into the red could continue for months
CLEVELAND, Ohio (WOIO) - Elected leaders across the state are bracing for an economic fallout due to the coronavirus crisis.
The city of Cleveland is anticipating a $7 million loss in April, according to Mayor Frank Jackson.
Ohio’s stay-at-home mandate is keeping people away from Downtown Cleveland, which has resulted in lost tax revenue.
The city relies on taxes from parking lots, hotels and admission tickets to help fund the budget. Each passing day, revenue is being lost, creating a shortfall.
19 News reached out to Cleveland City Hall to ask if the city’s nearly 8,000 employees could face layoffs, pay cuts or furloughs.
The finance department referred us to the communications director, however, we never heard back.
City Council President Kevin J. Kelley said between mid-March and July, the loss of taxes could result in a $15 million shortfall, but if the economy picks back up, he doesn’t anticipate cuts to Cleveland’s workforce.
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