ABSTRACT

Economic First Responders: Three Ways Economic Development Organizations Mitigate the COVID-19 Economic Crisis   [open html - 0B]

From the Document: "Economic Development Organizations (EDOs) are stepping into a new role in the COVID-19 [coronavirus disease 2019] crisis to help ensure that businesses have the capacity to reopen and rehire their employees. 'EDOS are the economic first responders' is how Steve Hyde, president and CEO of the Genesee County Economic Development Center (GCEDC), describes it. EDOs are now on the front lines, helping companies navigate the economic fallout of the public health crisis. Mandatory shutdowns are requiring businesses in sectors such as tourism, hospitality, retail, and personal services to hibernate, and companies that have been deemed to be providing essential services are still operating but are facing challenges including supply chain disruptions and the implementation of new health and safety regulations. Governments at all levels are rolling out assistance programs designed to help businesses survive the crisis and companies of all types are turning to EDOs to help them navigate these newly established programs. EDOs are working to ensure the success of their client companies and the restoration of local economies."

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Date:
2020-04-30
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Copyright:
Nelson A. Rockefeller Institute of Government
Retrieved From:
Nelson A. Rockefeller Institute of Government: https://rockinst.org/
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text/html
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