Business leaders from across the state of Arizona have been discussing what the state economy will look like in a post-COVID world. In a recent meeting of high-level executives, preparations are being made to get businesses ready for new changes. According to Venture Capitalist Ashton Eugene Thomas, “We are going to face automation never seen before. Businesses will streamline operations to lessen the risk in the future.” All across the nation, businesses are already gearing up to implement new ways and ideas. Thomas adds “There were structural weaknesses in the economy that were exacerbated by the pandemic, but there are opportunities out there in the rebuilding of our economy.”
While business leaders look into how to fix the mess that COVID-19 has left, they will be looking to state leaders to give them the necessary tools to make the changes. In 2019 Arizona was ranked in the top 20 states for its economy. In order to bring back the jobs and make businesses self-sufficient, Arizona will face a daunting road. Another trend expected to pick up steam in 2021 is the continuation of businesses allowing alternative work schedules and work from home options. Thomas points out that the pain inflicted on Main Street will not be repaired collectively with Wall Street, and that Arizona will need to be prepared to make calculated changes for the future. With the incoming Biden administration in January, there are hopes for a more stable climate for businesses to operate in.