Springfield Business Journal_2021-06-21

$2.00 · SBJ.NET JUNE 21-27, 2021 · VOL. 41, NO. 48 40 YEARS • YOUR BUSINESS AUTHORITY by Mike Cullinan · mcullinan@sbj.net After a challenging 2020 that most in the industry would just as soon forget, wedding businesses and the clients they serve are now in much more of a celebratory mood. It’s been a slow start to hosting weddings in 2021 for the Savoy Ballroom on Commercial Street, but co-owner Andy Wells said the pace is about to pick up considerably. The venue earlier this month hosted its fourth wedding of the year. However, he said nearly 50 are booked for the next six months. “With our average of 65 (weddings), for as rough of a year it’s been, that gives you an idea how busy the rest of the year is,” he said. “If this whole year had been normal, it would be well above average.” The coronavirus pandemic led to a slew of cancellations or postponements of nuptials last year at the Savoy, Wells said. Only around 25 were held. Revenue sank over 60% from 2019, he said, declining to disclose figures. It was even worse for Dance With Me LLC, the dance company Wells owns with wife Anne. The venture shut down for the remainder of the year in March 2020, as stay-at-home orders were enacted. He estimated the dance studio’s revenue decrease was closer to 95%. “For the most part, 90% of our events for 2020 after that shutdown just didn’t happen,” he said. Challenges faced by the Savoy Ballroom last year was hard- ly unique. As occupancy, travel and masking restrictions were implemented in Springfield and beyond beginning in mid- March 2020, weddings largely ground to a halt. The Wedding Report, a website that reports wedding industry data, noted that 41.5% of all 2020 weddings were delayed to 2021. Some couples switc hed to livestream options or Wedding businesses experience rebound after rough 2020 Demand is ramping up as COVID restrictions relent See WEDDING on page 26 MCKENZIE ROBINSON WEDDING READY Savoy Ballroom co-owners Andy and Anne Walls have roughly 50 weddings scheduled for their Commercial Street venue in the second half of the year. PRESENTEDBY A L O O K I N T O S E A S O N 2 by Mike Cullinan · mcullinan@sbj.net Despite the coronavirus pandemic’s impact last year on local businesses, Springfield Business Development Corp. officials noted at its June 16 annual meeting that a record- setting total for new payroll is part of nearly $300 million in capital investment pledges. Springfield Area Chamber of Commerce Vice President of Eco- nomic Development Ryan Mooney said SBDC was a contributor to securing nine projects in 2020. In total, the projects represent $288.9 million in new investment, produc- ing 1,014 jobs and $40.5 million in payroll, he said. “These are big numbers and big commitments by companies to our local economy,” Mooney told the crowd. The SBDC, which works to at- tract and retain businesses to the Springfield region, is the economic development arm of the chamber. Officials said roughly 450 people attended the meeting at Oasis Hotel & Convention Center. Some of the projects involve new facilities for companies with a longtime local presence, such as Convoy of Hope and The Kraft Heinz Co. (Nasdaq: KHC). Convoy of Hope is building a $14.1 million distribution center in Republic Ryan Mooney: Net migration is a big factor in local population growth. See SBDC on page 23 Capital investments reach $289M in ’20, SBDC reports Over 1,000 jobs are generated by announced projects