South Jersey’s economic pain from coronavirus could reach over $5 billion David Danzis, Press of Atlantic City · April 21, 2020 at 6:46 am The new coronavirus’ impact on the South Jersey economy could be more than $5 billion, and the regional recovery may take even longer than the 2008-09 recession’s. The regional gross domestic product could shrink anywhere from $2.1 billion to $5.1 billion and be influenced by a number of factors, including the length of the economic shutdown and how quickly business returns to normal, according to the most recent South Jersey Economic Review produced by the William J. Hughes Center for Public Policy at Stockton University. The 12% to 28% estimated economic contraction is considerably larger than the $2 billion regional decline experienced during the fiscal crisis more than 10 years ago, which still has a lingering effect on the area.
