Last week, two major water main breaks in Midtown and Vine City left many Atlanta residents and businesses without water. Although the water has been restored, the financial impact is still causing major concerns.
Small businesses were hit hard, with some having to temporarily close. Lance Robertson, co-owner of SBD+, shared his struggles, saying, "I would say I lost close to about $3,000. I'm a small businessman already hanging on a vine right now."
Trinket Lewis, owner of MoreLyfe Juice Co., also faced significant losses. "We're looking at $4–5,000 a day. It's a lot of money for a small business," she explained.
Some businesses, like Eleventh Street Pub, have not yet reopened. "We have to see how much moisture is in the place. We have to do mould remediation. We don't know, we have no idea when we're going to be able to reopen," said Michael Taylor, the pub's owner.
Tom Smith, a finance professor at Emory University, estimates the total financial impact to be in the tens of millions of dollars. "We don't know what would likely have been spent. We can sort of do some ex-post analysis, but I suspect it's in the tens of millions of dollars," he said.
In response, Mayor Andre Dickens has announced a $5 million relief fund for affected businesses. However, experts like Smith warn that this may not be enough. "They may be covered in cents on the dollar, maybe 25 cents, or maybe 10 cents on the dollar. Certainly helpful, but it probably is not going to cover everything," he explained.
The city faces a significant challenge in repairing and replacing its ageing water infrastructure, which Mayor Dickens said would cost billions. Experts are concerned about the long-term economic impact. Smith noted, "Will the fact that we have ageing infrastructure give a pause to potential businesses? I think that needs evaluating. That could be a serious threat to our economy."
As Atlanta works to address these issues, small business owners are left dealing with the financial fallout and uncertainty about the future.
