Economic Development Recovery and Resiliency Playbook - Flipbook - Page 54
Recovery. The nature of disaster recovery focuses more on actions in the afermath of a significant economic event. Whether
the economic event is a natural or human-caused disaster, pandemic, broad economic disruption or downturn, a more industryspecific downturn, or the closure/downsizing of a local facility, recovery presents a challenge that requires resource mobilization
and identifying the nature of the impact that such events will have. Having a broad understanding of the economic base
provides context for a recovery process as well and points to where the impacts from economic events can have indirect efects
in other areas of the economy. Understanding how the diferent parts of the economic base work together also helps to identify
areas of strength in the economy that can assist in the recovery process.
Real-time indicators like business license renewals and sales tax trends provide a valuable window into what may be
happening on the ground, and this is where locally derived and location-based information is key to formulating a response
to a significant event in a timely manner. Where gaps in the data at the local level exist, national or state level information
can provide an indication of what might be happening locally if the economic event is widespread or has impacted other
comparable communities. In general, the information with longer lead times is more accurate and more amenable to drilling
down to the local level, but having the other information as an initial overview of the trends is important to providing an overall
understanding of the potential recovery needs when combined with additional information.
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CALED | Economic Development Recovery and Resiliency Playbook
