Economic Development Recovery and Resiliency Playbook - Flipbook - Page 10
Economic Recovery
Many leaders agree that it is not a question of if there will be another disruption, but when will it happen and whether
jurisdictions and businesses are prepared. Federal, state, and local governments have invested in various programs addressing
resiliency because doing so is the path to a more efective response and a faster recovery; for example, on July 12, 2021,
California Governor Gavin Newsom signed a $100 Billion California Comeback Plan to accelerate the state’s recovery and tackle
persistent challenges.1 This investment spans programs supported across multiple state agencies, with the goal of not only
addressing immediate needs, but also incentivizing economic development activities that will create a more sustainable future,
as highlighted by the creation of $600 million Community Economic Resilience Fund administered by the California Labor and
Workforce Development Agency, the Governor’s Ofice of Planning and Research, and the Governor’s Ofice of Business and
Economic Development.
The International Economic Development Council states that recovery “… is the restoration of all aspects of the disaster’s
impact on a community and the return of the local economy to some sense of normalcy.”2 More recently and as demonstrated
by the 2021 federal eforts to “Build Back Better,” it is generally accepted that recovery to past standards is not enough — to be
more resilient for future disruptions, we must rebuild in a way that addresses prior weaknesses, challenges, and future risks. This
includes creating opportunity for all through a lens of equity and inclusion in support of underserved populations. This Playbook
uses the terms “equity” and “underserved” as defined in President Biden’s Executive Order on Advancing Racial Equity and
Support for Underserved Communities Through the Federal Government:3
The term “equity” means the consistent and systematic fair, just, and impartial treatment of all individuals, including
individuals who belong to underserved communities that have been denied such treatment, such as Black, Latino, and
Indigenous and Native American persons, Asian Americans and Pacific Islanders, and other persons of color; members of
religious minorities; lesbian, gay, bisexual, transgender, and queer (LGBTQ+) persons; persons with disabilities; persons
who live in rural areas; and persons otherwise adversely afected by persistent poverty or inequality.
The term “underserved communities” refers to populations sharing a particular characteristic, as well as geographic
communities, that have been systematically denied a full opportunity to participate in aspects of economic, social, and
civic life, as exemplified by the list in the preceding definition of “equity.”
If local governments approach each recovery event as a chance to build a stronger, more diverse, and more inclusive economy,
they will be better prepared for the next disruption – they will be more resilient. The Federal Emergency Management Agency’s
National Disaster Recovery Framework (see Figure 1.2 on page 3) includes a thoughtful model showing how building back better
is operationalized into its recovery continuum.
Economic Resiliency
The need to develop a resilient economy and resilient businesses is a pressing economic development concern for public sector
leaders, and the COVID-19 pandemic and other economic disruptions brought this need to the forefront while communities were
engaging in response and recovery eforts. Economic and business resilience may seem similar, but economic resiliency relates
to the strategic fiscal decisions and actions by governments to build sustainable infrastructure, diversify revenue, fund reserve
accounts, and budget for future needs by looking beyond the current budget cycle and examining the ability to provide future
services. Resources for helping local government with economic resiliency are listed in Appendix 1.
Individual business resiliency not only includes the policy decisions by local leaders to create an environment where businesses
can thrive, it also includes business counseling as detailed in Chapter 8. Small business owners do not necessarily think about
1
California Roars Back: Governor Newsom Signs $100 Billion California Comeback Plan to Accelerate State’s Recovery and Tackle Persistent Challenges:
California Governor, 2021. https://www.gov.ca.gov/2021/07/12/california-roars-back-governor-newsom-signs-100-billion-california-comeback-plan-to
accelerate-states-recovery-and-tackle-persistent-challenges, 27 November 2021.
2
International Economic Development Council. “Phases of Disaster” Restoreyoureconomy.org,
https://restoreyoureconomy.org/index.php?src=gendocs&ref=362&category=Main, 27 November 2021.
3
The White House. President Biden’s Executive Order on “Advancing Racial Equity and Support for Underserved Communities Through the Federal
Government. Whitehouse.gov, https://www.whitehouse.gov/briefing-room/presidential-actions/2021/01/20/executive-order-advancing-racial-equity-and
support-for-underserved-communities-through-the-federal-government/, 27 November 2021.
2
CALED | Economic Development Recovery and Resiliency Playbook
