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Bakersfield Ranked Among Cities Where Spending is Recovering the Most

The Bakersfield economy seems to be recovering from the ongoing pandemic better than most cities in the nation.

Bakersfield was recently ranked fifth among the largest 51 U.S. cities when it comes to spending recovery, according to SmartAsset.

That ranking was tied with Minneapolis and Salt Lake City.

Wrote SmartAsset: “Bakersfield, California has the 12th-highest June 2020 consumer spending in the study. Furthermore, it has the 13th-highest percentage point recovery in the study (i.e. the difference between its lowest point in consumer spending and June 2020 consumer spending). As of June 30, 2020, consumer spending was 8.5% lower than it was in January 2020, and from its low of -36.6%, consumer spending recovered by more than 28 percentage points.”

This follows the recent report from Development Services showing the City issued almost 1,400 building permits in June (the most of any month in the last five years), and that we are already exceeding the year-to-year total construction of multi-family buildings compared to the same point in 2019 (22 this year versus just six last year).

The City continues to work with businesses on innovative ways to operate safely, including offering a COVID-19 Special Event Permit that will allow them to expand their businesses temporarily into public spaces or even their parking lots. The option allows them to conduct business while also complying with the state and county public health guidelines aimed at reducing the potential spread of the coronavirus.

Any business interested in applying for the COVID-19 SEP should fill out this application.