Part 2 - Gerry Dick from Inside INdiana business weighs in on the economic impact of COVID-19

Part 2 - Gerry Dick from Inside INdiana business weighs in on the economic impact of COVID-19

We're we're we're working to get answers to your questions about the covid-19 pandemic.

Specifically -- how it's impacting our economy.

News 10's alia blackburn went to get some answers.

It's a scary time for the economy right now... but gerry dick -- with inside indiana business -- says there is some hope to all of this.

That's if you learn to separate the short... from long term.

At 5 o'clock..

We told you the long term prediction is a fairly quick recovery.

But we'll have to ride out an ugly short term period to get there.

"unfortunately, for some small businesses and entrepreneurs, they're going to go out of business.

We're going to lose businesses because of this crisis."

Terre haute... which dick considers a regional hub... is specifically is dealing with some uncertainty.

That's as big projects... like a potential casino... are put on pause.

"we're seeing casinos essentially close, of course.

The impact on those companies is substantial, is in the millions of dollars.

So they're going to reasses and look at things.

The hope is that it'll continue once things straighten out and ease up, they'll continue and make that investment."

While plans for a convention center are still in the works... dick says even that industry is taking a major hit.

"the focus on convention and meeting business, that has been desimated.

Here in indianapolis, as an example, hotels occupancy it should be around 80 percent this time of year... right now it's at 4, 4 percent occupancy in hotels, so they're going to be hit very hard."

But there is some silver lining to all of this... for small businesses struggling to stay afloat... to people between jobs... there is help and resources.

That's thanks to businesses and people working together.

If you, or someone know, is in need of help or services... visit our website wthi-tv-dot-com underneath coverage for covid-19.

In the newsroom, alia blackburn, back to you.