With Jabil Showing Effects Already, Coronavirus Expected To Impact More Of Florida's Economy
The coronavirus outbreak could impact the state's economy - and at least one Tampa Bay area company is already seeing some effects.
Jerry Parrish, Chief Economist for the Florida Chamber Foundation, said there’s a possible delay for goods coming from China that could affect the state's manufacturers.
“We will see supply chain disruptions of those imports until the situation stabilizes. That will definitely affect Florida’s exports.”
One local business experiencing the effect of coronavirus is Jabil.
The St. Petersburg-based company makes parts for smart phones, appliances and other electronics.
It released a statement Tuesday saying its factories in the parts of China that have been adversely impacted by the virus are running at around 65 to 70 percent of normal capacity.
“Our first priority is the overall safety of our people. To this end, we’ve instituted broad testing and quarantine protocols to support those who are on-site at our factories. In addition, we remain in close contact with our employees who’ve been unable to return to work due to on-going travel restrictions,” said CEO Mark Mondello.
Jabil's announcement came on the same day the Dow dropped 879 points. It fell by more than 1,000 points on Monday.