Beyond the devastating effects on a community, economic disasters can present an opportunity for change by highlighting a risky over-dependence on a single industry sector and motivating local leaders and planners to invest in the long-term resiliency of their community. Our work on the economic development team at Smart Growth America seeks to strengthen local economies through diversification—one of the most effective ways to increase long-term economic resilience.
Author: Martina Guglielmone
How can communities build an economic recovery in the wake of the departure of a major employer? Our Technical Assistance for Nuclear Communities program heard from a few local leaders who have faced that challenge, and they shared some of the fundamental lessons and best practices that can help communities address many types of economic shock.