Mid-state businesses feeling impact of Coronavirus

Posted at 10:58 PM, Feb 21, 2020
and last updated 2020-02-21 23:58:13-05

NASHVILLE, Tenn. (WTVF) — Experts warn the Coronavirus could have major impact on the world economy in coming months, and the effects could be noticed in the mid-state.

More than 76,000 people around the world have been infected with the virus, which is primarily concentrated in China. Because of the widespread virus, many factories in China are operating at a limited capacity or are closed altogether.

"We actually have one of our factories that's operational at about 30 percent," Rick Waits said. "But you still have these smaller ones that may not be producing."

Waits works for the company Megatrade, which has its International Operations office in Nashville. He said the factory and shipping closures could mean delays for customers all over the world, including in Tennessee.

"Where they might have had a one month delay, now they're facing a two month delay, possible even further," Waits said.

On Thursday, the group Tennessee China Network hosted a panel to discuss the impact the virus could have on the state economy, as many other businesses are also bracing for backlogs.

"I'm afraid that the full impact could take months and you'll start seeing where things are going to start impacting whats on the shelves," Waits said.