(Alexandria, VA) — The results from a March follow-up survey to determine if the economic impacts of the events of 9/11 were lessening for local businesses was recently compiled and released by the Alexandria Economic Development Partnership, Inc. (AEDP). AEDP released its initial electronic survey in mid-November 2001 to the local business community in order to determine the local economic impact directly associated with the events.

“The information provided by this follow-up survey plays a role in ensuring the economic vibrancy of the City, as well as ensuring the City is doing all it can to provide the necessary services to the businesses in our community affected by the tragic events of last Fall,” said Mayor Kerry J. Donley, Chairman of AEDP.

According to the most recent survey results, 71% of respondents replied that their businesses were still feeling economic impacts, down only slightly from 73% of the respondents from the original survey in November 2001. Sixty percent of the respondents indicated they are experiencing losses in revenue sales, down from 68% last fall.

The most significant difference between the two surveys is the number of companies requesting direct financial assistance: 12.4% in the most recent survey, compared with 6.9% late last year. According to Paula R.W. Riley, Executive Director of AEDP, “We attribute this statistic more to the cumulative effects of the events, rather than an overall worsening in the economy since last Fall.”

However, AEDP staff members continue to consult companies that require economic assistance, referring businesses to programs such as the Economic Injury Disaster Loan Program (EIDL), offered by the U.S. Small Business Administration. Under the EIDL program, SBA has approved approximately 21 loans at $3.6 million to businesses in the City of Alexandria. The EIDL program is available through September 30th to qualifying businesses and not-for-profit organizations that have suffered substantial economic injury attributable to the events of 9/11. Alexandria’s Small Business Development Center (SBDC) is assisting businesses with the EIDL application process, as well as consulting on a host of local, state and national resources. For assistance, contact the SBDC at (703) 778-1292.

The purpose of the survey was to determine the impact that the events of September 11th had on local businesses. More than 1,000 electronic surveys were sent out to businesses, and a response rate of 11% was achieved. The data collected from the survey shows that a cross representation of industry and geographic locations in the City participated in the survey. Of the industries represented, the responses included representative companies from the professional services sector, association/non-profits, retail, hospitality, personal services, technology, real estate, restaurant, and manufacturing/industrial.

The complete results of the survey are available on AEDP’s website, www.alexecon.org

The Alexandria Economic Development Partnership, Inc. is a public/private partnership that plans, directs, manages and implements efforts to attract, expand, and retain business operations in the City of Alexandria. AEDP has worked since 1981 as a facilitator to establish Alexandria as a nationally recognized community and business center. AEDP is located at 1729 King Street, Suite 410, Alexandria, VA 22314. (703) 739-3820, alexecon@erols.com.

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For Immediate Release- 4/8/02

Contact: Eric Dobson
703-739-3820 xt. 14

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