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Economic resilience refers to “the ability to withstand, prevent or quickly recover from major disruptions – or shocks – to its underlying economic base – Economic Development Agency (EDA)
In response to the widespread impact of COVID-19, the UT Center for Industrial Services’ EDA University Center developed, 5 Pillars of Economic Resiliency, a guide to provide economic developers and community leaders with practical tips and resources to build resiliency into all aspects of their economic development strategies.
The guide is packed full of helpful links to key resources including state and federal partners as well as checklists and assessments to assist in the response during a disaster and throughout the recovery.
Economic developers play a vital role in building economic resiliency in their local and regional economies. Being prepared on the front end and knowing what resources are available can significantly affect a community’s ability to bounce back after such disruptions.
From maintaining a robust business retention/expansion plan to digitizing the recruitment tools and transforming the workforce for the future, economic developers must think holistically and creatively, while embracing diversity and regionalism, to successfully assist their communities in becoming more economically resilient.
For more information contact: firstname.lastname@example.org
*This guide is one of a number of initiatives underway at UT CIS to build resiliency among businesses and communities