WASHINGTON - May 20, 2020 - Creative Investment Research joined the Cities are Essential Campaign by signing onto a coalition letter to congressional leadership asking that municipalities of all sizes receive direct federal support to recover from the COVID-19 pandemic.

The letter, with more than 170 organizations signed on, was sent to Capitol Hill this morning. In total, the coalition represents millions of Americans across the country and encompasses a broad range of industries including technology, law enforcement, construction, real estate, education, transportation, public safety, and health care. Additionally, the companies, associations and organizations account for more than 2.8 million employees and volunteers. The support generated clearly shows that businesses and community organizations across our country depend on the economic strength and vitality of municipalities. We are in this together.

https://www.nlc.org/sites/default/files/users/user52651/Cities%20are%20Essiental%20Congressional%20Leadership%20Letter%20FINAL.pdf

A recent NLC analysis found that municipalities across the country are facing over $360 billion in lost revenues over the next three years due to the impact of the COVID-19 pandemic on local economies. In 2020 alone, NLC estimates that cities will experience a total revenue loss of up to $134 billion, or 21.6%. The association noted that nearly one million state and local government employees lost their jobs in April. According to our review of the impact of Covid on the Black community, https://youtu.be/bYtbqexjONI we estimate that Black unemployment will reach 50% at peak.

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William Michael Cunningham