Toll Of Pandemic On Businesses Shown In Manassas Yearly Report

MANASSAS, VA — The city of Manassas saw increases in the unemployment and vacancy rates, according to a report published by the City of Manassas Department of Economic Development. The report attributed these rising rates to the COVID-19 pandemic, but observed signs for optimism in the latter portions of 2020.

The effect of the pandemic is undeniable in the graphs and charts in Manassas's 2020 market report. From March to April 2020, the unemployment rate in Manassas surged by almost 8 percent, from 3.0 percent to 10.9 percent.

Similarly, the vacancy rate for retail storefronts in Manassas jumped from 4 percent to 6 percent from the first quarter of 2020 to the second quarter. Going into 2020, vacancy rates in Manassas were at all-time lows, according to the report. By the end of 2020, the rates had increased, but were still considered to be at a normal or healthy level, the Department of Economic Development wrote.

Ultimately, the report referenced several reasons for optimism. Micron, the city's largest employer, is continuing its $3 billion expansion in Manassas, according to the report. The city of Manassas also saw the opening of its first hotel in almost 30 years, Tru by Hilton Manassas.

By the end of the year, the city's unemployment rate fell back down to 5.3 percent after its initial spike. The vacancy rates have been slower to rebound. Although, vacancy rates for retail, officers, and industrial businesses all fell in the fourth quarter of 2020.

The Department of Economic Development's report depicted the nation's economic woes on a local scale. Though the initial trials of the pandemic were a setback for Manassas's economy, the city is heading back in the right direction, according to the report.