RestoreYourEconomy is your resource for up-to-date information related to COVID-19 and its economic impacts. It is managed by the International Economic Development Council (IEDC) with generous support from the U.S. Economic Development Administration and IEDC's Economic Development Research Partners program.
If you have a resource or example of an effective strategy in your community that would be helpful to other EDOs in responding to COVID-19, let us know using the Contact Form to share your story.
On Thursday, January 14 from 2:30 - 3:30 EST, join IEDC for a webinar on building resilient infrastructure. Problems facing communities today, such as climate change and economic inequality, are so insidious and wide ranging that it can be tough to figure out how communities can address them, and prepare for a resilient future. One tangible approach is addressing the foundation—infrastructure.
At this moment it looks like there is a real possibility that many more of our small merchants will survive the pandemic than many downtown leaders and experts have feared or expected. However, many merchants are surviving by making significant economic sacrifices, often dipping into their retirement savings, credit cards, and family resources. To stay in business long-term, those sacrifices will need to be rewarded with sufficiently robust earnings. The economic environment they will compete in will not be the same as it was pre-pandemic. It will have new threats and new opportunities.
In the face of accelerated economic, social and environmental change, global experts suggest that governments and organizations can stimulate economies, and improve community outcomes by investing in high impact projects. As cities and regions continue working toward recovery, leading with infrastructural improvements and strategic funding will offer new opportunities. During a webinar hosted by Australian firm SGS Economics and Planning, panelists Peter Colacino (Infrastructure Australia), Mitra Anderson-Oliver (Department of Jobs, Precincts and Regions), and Kim Bowater (Frontier Advisors) shared lessons from Australia.
The pandemic has drastically changed the economy, in ways that can be hard to grasp. That's why a new resource from the Kenan Institute of Private Enterprise at UNC is especially helpful. The Institute partnered with the North Carolina CEO Leadership Forum to produce a new report, Seven Forces Reshaping the Economy to help understand the opportunities for long-term change that will bring better economic outcomes for more people.