24 Mar 2020
Hal McEvoy calls for US$250bn fund to protect attractions during pandemic
BY Tom Anstey
IAAPA's president and CEO, Hal McEvoy, has urged the US government to support the attractions industry during the coronavirus crisis, urging the Senate to take immediate and extraordinary action to support the country's economy.
If the shutdown remains in place through June, IAAPA estimates a 40 per cent loss of jobs within the industry and a nearly US$12bn (€13bn, £11.1bn) loss of revenue.
McEvoy has called for increased funding and flexibility for Small Business Administration (SBA) loans, tax relief to mitigate economic losses and US$150bn (€137.7bn, £127.3bn) in secured loans and loan guarantees in the Coronavirus Aid, Relief and Economic Security Act to help the attractions industry through this period.
"Attractions are the economic driver in many of the local communities in which they reside. They are often the reason people come to the towns in which they are located, stay in hotels and eat in nearby restaurants," said McEvoy.
"More needs to be done to ensure the attractions industry and its workers can sustain the shutdowns.
"We urge you to include a US$250bn (€229.5bn, £212.1bn) Travel Workforce Stabilisation Fund within the Department of Treasury with US$150bn (€137.7bn, £127.3bn) in direct grants and US$100bn (€91.8bn, £84.8bn) in unsecured, no-interest loans to mitigate the damage caused by shutdowns and ensure the attractions industry and other related travel-dependent businesses which do not qualify for SBA can maintain employment.
"Amusement parks and attractions are closed at government direction in what is typically the start of the busiest season of their year with no end in sight. They have substantial fixed expenses, most important of which are employee wages.
"As each day passes, with no end in sight for when restrictions on travel and gathering will be removed, this industry is increasingly unable to support their employees.
"With your help, the amusement parks and attractions industry will be staffed and prepared to open its doors and continue to be the economic generator for local communities that it has always been."
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