About RestoreYourEconomy

RestoreYourEconomy.org provides resources and best practice information for public and private stakeholders seeking to rebuild their local economies after a disaster as well as assisting the business community in preparing for a disaster.

RestoreYourEconomy.org provides a one-stop shop for disaster preparedness, post-disaster economic recovery, and disaster resiliency resources, tools, event announcements as well as opportunities to connect with peers through social media groups. The site exposes readers to the critical issues and challenges, highlights lessons learned in the response and recovery process, as well as suggests resources and best practices to use in restoring the local economy after a disaster. This includes articles, whitepapers, presentations, briefings, documents, website links, and other relevant resources to assist your community in the disaster preparedness or recovery process.

RestoreYourEconomy.org is made possible by the generous support of the U.S. Economic Development Administration and managed by the International Economic Development Council (IEDC). IEDC is one of the nation's premier providers of disaster recovery technical assistance to economic developers in recovering communities. Since the inception of IEDC's Economic Recovery Volunteer Program in 2005, IEDC has delivered over 335 technical assistance projects in response to major disasters. IEDC, through its Volunteer Program, matches communities responding to disasters with expert volunteers, all having more than 10 years experience in the field and whose areas of expertise best suit the community's needs. The program gives communities the opportunity to receive expert advice for short- and long-term economic recovery projects.

Economic Development Role in Disaster Recovery

 

Below is a chart illustrating both the traditional role of economic development professionals and their additional responsibilities in the event of a disaster as well as what they should be doing to ensure their business community is better prepared. A clear understanding of these roles & responsibilities will assist the professional in helping to spur economic recovery in their disaster-impacted community. 

 

Pre-Disaster Role

Post-Disaster Role

Analyst


  • Understand how possible disasters could impact local businesses/industries

  • Understand current conditions/damage to critical industries, businesses, property and infrastructure
  • Assess impacts on long-term viability of businesses/industries
  • Provide cost/benefit analysis of recovery projects

Catalyst


  • Establish Business Recovery Task Force to work on preparedness activities

  • Participate in Business Recovery Task Force to identify immediate and long-term recovery efforts
  • Garner input and support for critical recovery initiatives
  • Update strategic plans to match current realities

Gap Filler


  • Outreach to public and private institutions about setting up a bridge loan program for a disaster event

  • Conduct concerted outreach to reconnect with businesses and identify at-risk companies
  • Assist with bridge-loan financing until SBA loan approval
  • Provide business recovery assistance and services
  • Develop programs/intiatives as needed to support long-term recovery

Advocate


  • Advocate for mitigation and preparedness efforts
  • Advocate for tiered business re-entry procedures
  • Address impacts/adequacy of community’s emergency management plan from businesses’ perspective

  • Seek funding opportunities for recovery initiatives
  • Communicate priorities and need for policy changes to state and federal leaders

Educator


  • Educate small businesses on business continuity planning
  • Educate business community on community’s emergency management plan

  • Facilitate flow of accurate info to businesses
  • Communicate “open for business” and “we need help and resources” messages
  • Develop and distribute a disaster recovery guide

Visionary


  • Engage key stakeholders in visioning process to identify scenarios for post-disaster redevelopment

  • Envision how community can build back stronger, more resilient
  • Connect public/private resources for building back a more resilient community