ED Now

Communities across the United States are struggling with natural disasters—hurricanes and flooding, droughts and wildfires. IEDC asked Jeffrey Sjostrom, an EDO leader who has been through several natural disasters, what advice he has for his peers who are recovering from a disaster or taking stock of their organization and considering how they may better prepare, especially during a pandemic.

IEDC recently hosted a webinar titled Measuring and Promoting Your Startup Ecosystem With Data and Insights featuring a panel discussion and startup ecosystem platform Dealroom. Startups grow about three times faster than traditional businesses and have contributed 10 percent of total U.S. job growth since 2017. When a startup is backed by venture capital, job growth is three times as fast. VC-backed public companies create 24 percent of U.S. jobs and that number is rapidly increasing. Platforms such as Dealroom offer data insight and analysis to support startup ecosystems, and can be used alongside economic development as startups grow across mid-sized cities in North America. They provide both granular and high-level data on ...

The U.S. restaurant industry has seen numerous changes since the start of the pandemic. First came lockdown with takeout only, then capacity limits with outdoor dining and indoor masking. With some restaurants now reverting back to early-pandemic restrictions because of the delta variant, the industry has proven its ability to remain resilient and roll with the punches. But as COVID-19 infections continue to trend upward, more people across the country are deciding to stay home. According to a Business Insider article, restaurant reservations on OpenTable fell by 30 percent in some of the hardest-hit states during the first week of August. Furthermore, almost one in five U.S. adults surveyed in mid-August said they had stopped going to ...

The Urban-Brookings Tax Policy Center cohosted a webinar with the University of North Carolina Tax Center titled What Are the Effects of the Biden Administration’s Corporate Tax Proposals? Jared Bernstein, a member of the U.S. Council of Economic Affairs, kicked off the webinar by detailing how the response to the current crisis has been “uniquely strong”. He identified some of the labor market’s constraints and barriers that exist between supply and demand, such as the coronavirus, vaccination rates, affordable childcare, and enhanced unemployment insurance. Shifting the discussion to tax policy, Bernstein believes in a few motivating operations to prioritize. First, we must “relink” pre-tax growth ...

According to new analysis by Redfin, Americans are moving to places with higher climate risk. The majority of the top 50 U.S. counties at highest risk of heat, drought, fire, flood, and storms saw their population increase over the last five years. Meanwhile counties with relatively low climate risk have seen their populations decline. Despite an awareness of climate risk, it does not appear to be a deciding factor in most Americans’ moving decisions. More than ever people are prioritizing affordability and outdoor space, which explains why a county outside of Salt Lake City that has the nation’s third highest fire risk has seen its population increase by almost 15 percent. The county outside of Austin, Texas, that has the ...

IEDC’s board and staff send best wishes to all those impacted by Hurricane Ida. We wish everyone a safe and speedy recovery once the storm subsides. Regrettably, more frequent and severe natural disasters is the new normal, making resilience a critical component of economic development. IEDC is committed to sharing resources that help communities build back stronger and more resiliently after a major catastrophe. We invite you to explore the many free resources on RestoreYourEconomy.org. Leadership in Times of Crisis: A Toolkit for Economic Recovery and Resiliency is an extensive resource delivering strategies for community leaders in their path to a full recovery. Practical Advice for Transitioning to Recovery was funded by EDA ...

The Economic Developers Council of Ontario (EDCO) and the Canadian Urban Institute (CUI) have partnered to launch My Main Street, a $23.25-million, two-year program funded by the Federal Economic Development Agency for Southern Ontario to support the recovery and revitalization of main streets and local businesses. Main streets play a major role in supporting the economic, cultural, and social cohesion of communities by serving as places where people gather and socialize. My Main Street, also known as Ma Rue Principale, consists of two programs. EDCO will lead a program to revitalize 65 main street communities by supporting 975 local businesses with main street ambassadors, direct business grants, market research, and business support ...

IEDC recently hosted a webinar to discuss opportunities for local economic recovery post-COVID. The webinar leveraged the latest location data from Placer.ai to analyze migration patterns during the pandemic. Placer.ai collects anonymized location data by tracking mobile devices. The data suggests that there were small yet significant shifts in June 2021 compared to June 2019. States such as Florida, Arizona, and North Carolina witnessed a positive state-level change while other states such as California, New York, and Illinois saw a decline. The varied level of change could be due to tax structure and the availability of resources such as childcare and education. The demographics of cities and suburbs may be changing as a result of the ...