Economic Impact Survey, Nantucket COVID-19 Findings Part II
The follow-up to the Nantucket Impact Survey, Natucket COVID-19 Findings was released in October of 2020. It focused on the current economic status of local businesses, pandemic-related challenges and insights into post-season sustainability and needs. All businesses and organizations island wide, including members of Nantucket Island Chamber of Commerce, Nantucket nonprofit organizations, Nantucket Builders Association and day care providers sourced through the Public Health Department of Nantucket, were invited to respond.
In an effort to study the economic impacts of COVID-19 on local businesses and organizations on Nantucket, the Nantucket Economic Survey Team (NEST) was formed in April 20220 by representatives from Remain, the Nantucket Department of Culture and Tourism, Nantucket Island Chamber of Commerce, Nantucket Island Center for Entrepreneurship and Community Foundation for Nantucket.
NEST engaged with Boston-based consulting firm EBP US, which specializes in evaluation and analysis to support economic development planning and policy decisions, to learn how to best support business and nonprofit sectors under the pressures of a global pandemic. This was achieved by conducting Phase I and Phase II Economic Impact Surveys in April 2020 and September 2020.
Phase I gathered information from over 450 respondents (representing an estimated 42% of all establishments on Nantucket) and identified short- and long-term needs, including grants and loans, rent deferrals, delayed tax payments, permission to reopen, communication about available resources, marketing tools and business loss insurance. The survey assessed how organizations had been impacted by COVID-19, how they were responding, what they anticipated happening, and what support they needed.
Read the complete Phase I survey findings here and Phase II findings here.