Baltimore is bracing itself for a difficult spring amidst the havoc caused by the collapse of the Francis Scott Key Bridge. The bridge, a major artery for local businesses, succumbed to a collision with a cargo ship, leaving a substantial imprint on the city’s economy.
Despite the substantial challenges posed by this incident, local business owners radiate optimism, viewing this setback as temporary. Among them is Alex Del Sordo, the new steward of the Hard Yacht Cafe, who has pledged not to waver amidst this crisis. Del Sordo, who maintains his commitment to his 75 staff members, has also acknowledged the efforts of first responders with a 50% discount offer at his establishment.
The bridge closure presents a conundrum for Del Sordo as the accessibility of his popular marina is affected. He, however, envisions temporary solutions such as a shuttle boat service to maintain the onslaught of boating enthusiasts. Simultaneously, he’s also formulating strategies to manage employment costs without compromising the service quality.
Colin Tarbert, President, and CEO of the Baltimore Development Corporation, is hopeful about the city’s resilience. He suggests that the bridge’s collapse, while unfortunate, can be a catalyst for infrastructure redevelopment.
Baltimore’s resilience following Key Bridge collapse
Tarbert believes in the potential for growth amidst adversity.
The aftermath of the collapse has disrupted the normal pulse of affected areas. Industries reliant on the port, ranging from logistics to real estate and restaurants, are facing challenges due to disrupted traffic patterns.
As the sting of reduced foot traffic affects the restaurant industry, Mr. Tarbert assures that measures to alleviate the situation are underway. He underscores the Baltimore Development Corporation’s role in managing the fallout and its responsibility towards local businesses during this challenging period.
Michael Clark, President of BTR Logistics, warns that the disruptions may jeopardize about 75% of their short-term revenue. He acknowledges the rise in costs and potential delays, which could hamper long-term client relationships. Similar repercussions are feared in global supply chains, leading to a domino effect on different industries.
In response to the concern over delay in port operations normalization, Tarbert indicates the possibility of alternative truck routes. Plans are in place for low-interest loans from the U.S. Small Business Administration, financial aid from Governor Wes Moore, flexible operating hours for freight movement, and technology adoption in port operations. At a local level, business mentoring and counseling services are being offered, along with new policies to ensure long-term economic recovery and growth.
