By Michael P. Norton, State House News Service
December 24, 2020
Michael P. Norton, State House News Service
Up to 35 percent of retail alcoholic beverage licensees and 20 percent of state licensees may not renew in the new year due to the Covid-19 pandemic’s “major economic toll” on bars and restaurants, according to Treasurer Deb Goldberg.
“The outlook for fiscal year 2022 is not strong,” Goldberg told lawmakers on Dec. 15 during a hearing on state revenue expectations for the next budget cycle.
While her assessment was limited to alcohol license holders, rather than the state’s revenue picture at large, the treasurer’s comments underscore troubles in an industry that is scrambling to survive after watching about 250,000 of its 300,000 jobs evaporate when the coronavirus arrived here in March.