coronavirus

How Will Dallas Reopen the Economy?

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How will Dallas reopen the economy? That is the job of Mayor Eric Johnson's economic task force. NBC 5 talked with the man in charge of making it happen, former President of Dallas' Federal Reserve Bank, Richard Fisher.

"It's a big deal. We are one of the great job-creating machines in America. That has come to a grinding halt," Fisher said.

Weeks have passed and hundreds of thousands of people who work in the city of Dallas have gone without a paycheck, as businesses shuttered due to the coronavirus.

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"Over 71,000 in the city of Dallas alone have less than 50 employees. Restaurants, construction firms, all across the board," Fisher said.

When they will reopen is anyone's guess. But Fisher is tasked with how, something he said keeps him up at night.

"We want to flatten out the mortality rate of businesses, what they call the curve," said Fisher.   

Fisher said it is imperative that everyone cares about small businesses in Dallas. Beyond the numbers, he said, it is about the people who make up our great community.

"I want to get us back to the point where we are bringing capital to finance businesses here, that finances job creation, that provides people with a sense of dignity and security with their families. Also, to pay taxes to the city because we have to have law enforcement, we have to have trash collection, we have to have schools that are well-financed," said Fisher.

Fisher said this plan to reopen the economy could still be about 100 days out.

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