The economic impacts of COVID-19 are far-reaching and wide raging. Stay-at-home orders imposed by local and state governments in the Spring to mitigate the transmission of COVID-19 led to unprecedented unemployment and the temporary closure of countless small businesses. Changes to business practices and consumer habits that economists predicted would take years, have happened overnight. As stay-at-home orders phase out, businesses and communities are navigating, with little guidance or research, how to reopen in ways that protect the health of their employees and customers.
In order to cope with these lightning fast changes and support their communities, city officials, economic developers, community organizations, and businesses of all sizes have had to change strategies, pivot operations, and try never-before-tried methods.
Our new report describes various community responses to the economic effects of COVID-19, and analyzes some of the lessons learned in the process. The information is targeted towards local government officials, economic and community developers, business owners, and other community leaders, and fits into eight themes:
NCGrowth Analyst Reg Ledesma led the research and writing of this report.
