Experts predict Chicago will bounce back after COVID-19

Chicago will likely re-open later than other parts of the Midwest, with the city's tourism-related industries perhaps taking the longest to recover.

Given the huge losses inflicted on restaurants, hotels and live theater, could it take years for them to recover?

The New York Times reports a full revival of its hometown may be years away, with some officials fearful corporate executives may move their businesses to places less densely populated and, perhaps, less vulnerable to contagious disease. So, could Chicago face the same grim prospect?

“I think if we can get a treatment and a vaccine, ultimately the damage that is suggested by an article like that wouldn't be visited,” Illinois Governor JB Pritzker said. “I’m hoping that we'll be able to recover much more quickly than is being suggested by that.”

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If, despite the governor's best hopes, Chicago’s arts and cultural tourism takes years to bounce back, some experts predict other parts of the local economy will bounce back. One of those: a corporate re-location specialist who spoke to FOX 32 via Zoom from his home in suburban Atlanta.

“There's not another Chicago out there in terms of -- that combines the financial services juggernaut that it is, the relatively affordable Midwestern location that it is, and the humongous talent pool that not only exists there today, but the ability to recruit talent in the future,” said Ron Starner, executive vice president of Conway, Inc.

Chicago may emerge from the coronavirus crisis with those big resources intact. But there are no guarantees, and the city faces other dire challenges as well.

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