North Coastal News

The impact of the COVID-19 restrictions coupled with existing volatility in the energy sector is causing some to sound warnings for the economic future of the Katy area, yet community leaders remain optimistic.

Lance LaCour, CEO of the Katy Area Economic Development Council, recently estimated approximately 54,000 people in the area around Katy are employed in the energy sector, according to Community Impact Newspaper.

The impact of job losses expected across the energy sector could create a domino effect for local businesses, said Rick Ellis, vice president of the Katy Area Chamber of Commerce. Spending cuts and furloughs of employees have already been announced.

“This is indeed a double-whammy for our region,” Ellis said. “Business is going to soften. Small businesses will suffer. Families will have to cut back on spending, patronize restaurants less [and] make do with what resources they have at home. It’s going to be a tough time of belt-tightening for a while.”

As unemployment claims climb across the nation, the situation for local companies is being exacerbated as they discover their insurance policies do not cover business claims related to a global pandemic, Ellis said. Still, Ellis maintained a positive outlook based on the local culture – both of residents and of the businesses that reside around Katy.

“Being an optimist and a cheerleader for local businesses, I anticipate that the Katy area will rally and rebound and that our residents will do everything they can to get our local economy back on solid ground,” Ellis said.

Community and business leaders are already moving into action to help area businesses through the crisis.

For the Fulshear-Katy Area Chamber of Commerce, that effort has involved reaching out to businesses with ideas to continue making sales despite restrictions, President Don McKoy said.

“If we stay focused and help each other we can overcome anything,” McCoy said. “We have been here before and Texans found new ways to survive and be fruitful. I believe we will come out of this stronger than ever.”