Regional Economic Recovery and Resilience Toolkit

Abstract

The COVID-19 pandemic had significant unprecedented impacts on the nation as a whole. In Virginia, the ensuing statewide shutdown in March of 2020 resulted in sharp increases in unemployment rates, decreases in spending and tax revenues, business closures, and many other major changes in economic conditions. This event highlighted existing vulnerabilities and the importance of resilience in Virginia communities. Resiliency has often been defined as the capacity to recover quickly from shocks or difficulties, such as the pandemic. A resilient economy that can bounce back depends not only on employers, but on all members of its communities. Now, as Virginia progresses on the journey to economic recovery, communities must keep this in mind and be intentional in their efforts to rebuild. The increased disparities for vulnerable populations, barriers to access, inclusivity, equity, and meaningful communication all need to be addressed in the ongoing recovery planning processes and problem-solving.