Economic development organizations (EDOs) are pivoting to digital technologies as the centerpiece of their disaster response to the COVID-19 crisis. The coronavirus pandemic has had a devastating impact on small businesses and workers. EDO’s are making a concerted effort to make real-time data publicly available, and help businesses navigate the complexity of COVID-19 relief and recovery efforts.
Business Resources
The most prominent digital response is the creation of EDO website pages that provide accurate and timely information on COVID-19 resources. Typically displayed are links to CARES Act funding, application assistance, and other financial resources. EDOs are pushing to get federal dollars in the hands of local businesses impacted by official stay-at-home orders, and the employees that work for them.
EDO COVID-19 resource pages are also designed to help businesses reopen (personal protective equipment, social distancing), stay open, operate safely, and build community support. The pages serve as a crisis information hub — a collection of finance, buy local campaign, charitable donation, testimonial, online education offering, and public health dashboards.
COVID-19 GIS Mapping Tool
Last month, GIS Planning released a free, interactive GIS data tool to map the spread and impact of COVID-19 for U.S. economic developers. The data tool is a customized version of the company’s Mapping Intelligence Component, displaying national and county-level data for the coronavirus alongside Chmura’s Economic Vulnerability Index. EDOs and chambers of commerce across the U.S. are invited to post the free tool on their websites. This allows them to get interactive, mobile-responsive data to their regional stakeholders. The COVID-19 data comes from The New York Times and is updated daily.
Restore Your Economy
RestoreYourEconomy provides up-to-date information on COVID-19 and its economic impacts. The website is managed by the International Economic Development Council (IEDC) with support from the U.S. Economic Development Administration (EDA) and IEDC’s Economic Development Research Partners program.
The website offers a host of digital material on COVID-19 topics: IEDC research, reopening the economy (by industry), financial programs, insights and guidance from economic development professionals, business and worker assistance, member surveys, crisis communication management, and webinars. EDOs also have access to COVID-19 survey and website templates that can be customized.
RestoreYourEconomy is an excellent source for sharing best practice information with public and private stakeholders who are looking to rebuild their economy.
SizeUp
SizeUp is a Fintech Internet service company dedicated to providing powerful business intelligence. They are taking a lead role in working with EDOs to better serve local small businesses and entrepreneurs with their digital software products.
During the months of March and April, SizeUp completely waived the setup fees to have their SizeUp Local Business Intelligence (LBI) product added to EDO websites. This allows local businesses to access SizeUp LBI for free directly from the EDO website.
EDOs taking advantage of this opportunity include the Greater Sacramento Economic Council, Maricopa, Town of Gilbert, and Arizona Public Service. Local businesses utilizing the SizeUp LBI product are able to benchmark performance, identify customers and suppliers, and find the best places to invest their advertising budget.
SizeUp also makes articles and white papers available for download. This includes Coronavirus Economic Development Case Studies and National Survey Results, a report that provides case study examples of how economic developers and policy makers are taking action in response to the COVID-19 crisis. Each initiative is intended to mitigate the devastating economic impacts of state lockdowns and stay-at-home orders on workers, families, and businesses. Featured sections in the document focus on transition work, online local business and entrepreneur assistance, engaging commercial property owners, corporate site selection, social distancing bingo, fashion and sports repurpose manufacturing, utility companies creating their own stimulus, swapping companies temporarily, the business of food, and tech industry partnership.
Business Attraction and Site Selection
Site Selection After COVID-19: Predictions From the Experts, a recent survey conducted by the Site Selectors Guild, an association of the world’s foremost professional site location consultants, in partnership with Development Counsellors International (DCI), provides insights on how COVID-19 impacts corporate location strategy.
Survey findings indicate that 52 percent of companies interviewed are pausing site selection projects, and 45 percent are moving forward with projects. Those surveyed also predict there will be a shift in global manufacturing and supply chain strategy, an uptick in on-shoring to North America, an increase in remote work that will shrink the demand for office real estate, and forsees the emergence of life sciences, logistics, and advanced manufacturing as “hot” industry clusters. Survey respondents encouraged EDOs to prioritize helping displaced workers find employment, closely followed by talent/workforce attraction initiatives. EDOs were also advised to keep up the communication with companies and site selection consultants.
ZoomProspector
Due to COVID-19 causing massive disruptions — cancelled executours, postponed familiarization tours, government travel restrictions, investors pausing to reconsider their strategic footprint — site selection consultants have been unable to undertake personal site visits to local communities. Until the pandemic subsides, EDOs are facilitating virtual site selection by showcasing properties with GIS Planning’s ZoomProspector. This digital tool gives site selection consultants the ability to access information on commercial and industrial sites, directly on EDO websites. Consultants are able to research and analyze properties and communities, collecting data on demographics, workforce, GIS, business/industry, education, and wages from the comfort of their office. Personal site visits will eventually resume, but prior to those occurring, EDOs capable of using technology to stay connected will have a competitive advantage.
Zoom
Because of COVID-19 social distancing requirements, EDOs are utilizing Zoom digital conferencing software to meet and work together. Zoom conferencing software helps people maintain human connections, irrespective of geographic location. EDOs are finding value in cost-effective, modern communications that cover video, audio, web, and chat, and easily scales to their needs.
Editor’s Note: To avoid “Zoombombing,” users need to be careful about sharing meeting links publicly. Instead of posting a meeting link to a Facebook group or in a promotional tweet, distribute information via a more private method, such as email. Meetings should be set to “private.” Be careful not to use your personal meeting ID. In its place, use a one-time meeting ID to make the meeting more secure.
COVID-19 has become an economic and health crisis like no other. The world is entering uncharted territory, but as the old saying goes, “Thinking will not overcome fear but action will” (Stone, 1962)
High performance economic development organizations are finding leadership opportunities in COVID-19. They are aligning expectations. They are focusing on strengths, successes, opportunities, and collaboration. They are providing accurate, real-time information. They are staying positive, and above all else, they are communicating, communicating, communicating.
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