Wednesday, April 9, 2014
Gov. Fallin Seeks Financial Aid for Businesses Affected by Bridge Closure
OKLAHOMA CITY – Governor Mary Fallin is seeking federal assistance for businesses in Lexington and Purcell that have been adversely affected by the closing of a state of Oklahoma bridge that connects the two communities.
Repairs are underway to the James C. Nance Memorial Bridge, which has been closed since Jan. 31. The bridge, which provided a 10-minute trip between Lexington and Purcell, was closed after cracks were found in the beams of the truss system that holds the 76-year-old bridge over the Canadian River.
The bridge’s closure has resulted in a 45-minute one-way trip between Lexington and Purcell to conduct businesses from one community to the other. June 14 is the target date to reopen the bridge.
Fallin is requesting that the U.S. Small Business Administration (SBA) declare an economic injury declaration that would allow business owners in McClain and Cleveland counties to apply for federally subsidized loans.
“The increase in travel time has created an undue financial burden for the residents and small business owners in both counties and communities,” the governor wrote in her letter. “The magnitude of the bridge closure presents unexpected consequences to these communities that could be difficult to recover from without extended support from the SBA.”
The governor’s letter included a survey compiled by the Oklahoma Department of Emergency Management that showed more than five businesses having gross revenue losses during the time the bridge has been closed compared with the same time period a year ago.
Several businesses in Lexington, which make up 90 percent of the city’s economic structure, are reporting a 30 to 50 percent decline in sales as a result of the bridge closure, the governor wrote.
“The major decline in revenue has led to businesses moving or closing their doors permanently in order to avoid further indebtedness,” Fallin wrote.
In Purcell, small business owners represent about 80 percent of the city’s economic structure.
“Many of these businesses are considering permanent closure as they can no longer afford to maintain their businesses due to the bridge closure,” Fallin wrote.