Business

Businesses hoping for economic aid now that election is over

Posted November 4, 2020 1:00 p.m. EST
Updated November 4, 2020 1:02 p.m. EST

On Wednesday morning, Oxford University expressed optimism that a coronavirus vaccine could be ready before Christmas. However, they stressed regulators would have to review the data before it is distributed.

Gov. Roy Cooper's handling of the coronavirus pandemic earned him support among North Carolina voters and helped the Democrat win re-election over Republican Lt. Gov. Dan Forest. Cooper beat Forest by over 200,000 votes.

Businesses that have been shut down due to the pandemic are hoping that some relief is in sight now that the election is over. Bars like Coglin’s, an 80's-themed bar on Fayetteville Street in Raleigh, have been hit especially hard.

Coglin's owner Zack Medford said now that the election is over, it's time to focus on getting aid to small business owners.

"This has been brutal. We've already had to sell off one of our businesses. We might have to sell another to pay our mortgages. We don't have any money coming in, unemployment has run out, and we are just living on fumes right now. Something has to change," he said.

Meredith College political science professor David McClennan said help could be coming for businesses.

"What I think he [Gov. Roy Cooper] will do for businesses that have clearly been affected, likes bars and gyms to some degree, that's where he will propose an economic package to try and help the business owners because I don't think he is going to cave in and say, 'I will open everything up,' with the numbers going up as they are," said McClennan.

McClennan added that Cooper will need the support of Republican law makers, if he hopes to get that financial relief to businesses.

Our commenting policy has changed. If you would like to comment, please share on social media using the icons below and comment there.