Peru officials are trying to grasp the effects of the coronavirus on its city's revenue.
Peru officials are trying to grasp the effects of the coronavirus on its city's revenue.
City leaders in Peru are attempting to figure how much damage will be done to the local economy because of the COVID-19 pandemic, but almost all indications point downward.
According to a report in Newsbreak.com the city’s finance committee met to crunch the numbers and scaled back projections for the fiscal year starting this June.
“Committee members came away thinking that their sales tax dollars would drop more than $1.5 million from original projections,” the Newsbreak report stated. “They're bracing for a drop specifically in things like retail purchases, hotel stays, and car buys. When you add in losses in video gambling revenue and state income tax money, the expected revenue drop attributed to COVID-19 pushes towards $2 million.”
Peru’s largest business district is positioned at the intersection of I-80 and IL-25. There are three smaller districts along the US-6 Corridor including the city’s downtown. The largest employers in Peru incllude the Peru Mall, the Illinois Valley Community Hospital, Walmart, James Hardie, Officemax, American Nickeloid, Liberty Village, Double D Express, Heritage Manor Nursing Home, Eakas, Target and Horizon Industries.
Peru is also the site of Maze Nails one of America's last remaining nail makers and the Carus Chemical Company, started in 1915, today the largest manufacturer of potassium permanganate in the world, used to treat skin infections.
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