Steps in Economic Recovery and
How IEDC might be helpful
Jeff Finkle, CEcD
October 11, 2017
Economic Developers try to create, retain, and expand
jobs; develop tax base and enhance wealth.
The International Economic Development Council (IEDC)
is the 91 year old non-profit membership organization
dedicated to helping economic developers do their job
more effectively.
When we succeed, our members create more high-
quality jobs, develop more vibrant communities, and
generally improve the quality of life in their regions.
About IEDC
What have other communities done
Steps in an Economic Recovery
Federal Tools
Where you can find Knowledge
IEDC’s Work in Resiliency & Economic Recovery
Summary and Conclusion
What have other communities
Grand Forks Flood
Red River; North Dakota/Minnesota, 1997
Northridge Earthquake
Northridge (Los Angeles) CA, 1994
Hurricane Andrew
Dade County (Miami) Florida, 1992
Grand Forks Flood
§ Over 80% of City covered with water,
including the downtown/business district
§ Destroyed more than 800 homes
Grand Forks: What Did They Do?
Initial/Immediate Actions:
Initial/Immediate Actions:
§ Set up Business Recovery Task Force
§ Identify Immediate Needs
- Housing & Economic Assistance to Small
§ Inter-Departmental Group for Business
Grand Forks: What Did They Do?
Funding to Businesses
Grand Forks Growth Fund (CDBG
Bridge Financing til SBA loan approved
Fund disaster-related needs not covered by
Assist businesses denied SBA loan
Partial Forgiveness
SBA Approved Loans: 1,889, $85
Grand Forks: What Did They Do?
Longer-Term Activities to Rebuild
Community Discussion
Input & Guidance from Consultants &
Community Charrettes
Downtown & Neighborhood Vitality
Community Identity Preservation
Re-establish neighborhoods with federal
Grand Forks: Outcomes
Most Businesses Survived:
Function of previous financial and
management health
Re-built in Same Location
40 damaged buildings removed downtown
& replaced
Lost Housing by River now Green Space
Indicators of Vital Community
Grand Forks: Lessons
Craft Federal Funds to Create Appropriate
Programs for Community
Funds need to be flexible
Use good business sense in accepting and
using dollars
Keep Long Term in Mind when dealing in
the short-term
Bring in the Best Assistance & Expertise
The Northridge Earthquake
20 miles north of Downtown L.A.
Damaged up to 1,000 buildings
Major Transportation Infrastructure
Business Damage & Disruptions
Aggregate Business Losses nearly $6 billion
Business Physical Damage: 57%
Business Relocation: 5%
Northridge: What Did They Do?
Immediate Actions:
Basic Disaster Funds & Low-Interest
Funding to Businesses:
50,000 SBA Loans (about 30% declined)
Many businesses used other form of
Northridge: Outcomes
About 50% of businesses in survey
indicate equal well-being before and after
the quake
25% were better off
Stimulus provided by the earthquake itself
Upturn in the economy
25% worse off
Sector and Size determining factor
Northridge: Lessons
Maintaining Life-Line Services is Key
Transportation, Water, Electricity
Need to Increase Federal Assistance and
Recovery Aid
Publicity, increased awareness,
More Flexible Programs
Grants to weak businesses
Require less documentation
Hurricane Andrew: Impacts
Firms that survived found themselves operating
in a radically different environment.
Vendors had to be replaced, huge employee turnover
Loss of many small businesses
Demographics of local population re-cast
Loss of 30,000 jobs
Longer-term increases in cost of living &
Business costs
Hurricane Andrew:
What Did They Do?
Funding to Businesses:
Florida Small Business Emergency
Bridge (SBEB)
Short-term, emergency funds, up to
90-180 day maturity, no payments during
Interest free, no fees, quick approval
EDA Recovery/Redevelopment Programs
28 projects = $50.9 million
Varying levels of success
Hurricane Andrew: Outcomes
Working to simply replace is not always
–Maria Pellerin Barcus, Executive Director of Carrfour Supportive Housing Inc.
Unanticipated ripple effects
Comprehensive Planning Overlooked
Jobs far from housing
A year or more to rebuild
Businesses enhance insurance coverage and
contingency planning
Hurricane Andrew: Lessons
Target Communities Directly impacted
Focus immediate rebuilding efforts on vital
infrastructure and commercial concerns
Enforce standard monitoring procedures (eg,
require periodic status reports)
Provide consistent, ongoing oversight both on-site
and from agency headquarters
Quickly rehabilitate or terminate projects that are
failing to meet milestone goals and transfer funds
to the disaster recovery purposes.
Steps in Post Disaster
Steps in Post Disaster Recovery
Understand current conditions/damage to critical
industries, businesses, property and infrastructure
Assess impacts on long-term viability of
Provide cost/benefit analysis of recovery projects
Steps in Economic Recovery
Participate in Business Recovery Task Force to
identify immediate and long-term recovery efforts
Garner input and support for critical recovery
Update strategic plans to match current realities
Steps in Economic Recovery
Gap Filler
Conduct concerted outreach to reconnect with businesses
and identify at-risk companies
Assist with bridge-loan financing until SBA loan approval
Provide business recovery assistance and services
Develop programs/intiatives as needed to support long-
term recovery
Steps in Economic Recovery
Seek funding opportunities for recovery
Communicate priorities and need for policy
changes to state and federal leaders
Steps in Economic Recovery
Facilitate flow of accurate info to businesses
Communicate “open for business” and “we need help and
resources” messages
Develop and distribute a disaster recovery guide
Steps in Economic Recovery
Envision how community can build back stronger,
more resilient
Connect public/private resources for building back
a more resilient community
Understanding the Federal
Primary challenges involved with accessing federal
funds to restore a local economy after a disaster
Limited funds
lack of flexibility
inconsistent requirements
Political nature of disaster funding
Understanding Federal Resources
Key Agencies
2. SBA
3. DOT
4. EDA
5. HUD
6. Dept of Ag
Where can you find knowledge?
Provides economic development professionals and local leaders with
practical guidance and info to assist in disaster preparedness and post
-disaster economic recovery
Serves as a one-stop resource:
o Best practice information
o Reports /publications
o Case studies
o Tools
o Event announcements
o Webinar recordings
RYE has received over
100,000 visitors
Well linked as a resource
o Over 1,000 links connect to the
100+ free webinars, reports,
publications, and
presentations for download
A Toolkit for
Economic Recovery
& Resiliency
Sponsored by EDA
*A customized version is available for Canada*
Economic Recovery Program
Since 2005, IEDC has
delivered disaster
preparedness and
economic recovery
support to American
70+ technical
assistance projects
50+ knowledge-
sharing events
50 webinars
Countless reports
and papers
Types of assistance
Volunteer Deployment
o Since Hurricane Harvey and Irma, IEDC has gathered 90 volunteers
o They will be deployed for one week at a time
Economic Recovery Assessments
o Captures and organizes essential business recovery needs
o Work can be done remotely or in person
Business Assistance
o Surveying businesses
o Case management
o Organization and staffing a business recovery center
Types of assistance
o Customized courses for disaster-impacted communities
o Webinars
Organizational Management & Capacity Building
o Technical assistance projects, research papers
o Handling large programs, logistical tasks, and management of teams.
o Technical Assistance – long-term
o Teams of experts visit and give recommendations
Volunteer Deployment to Build
Capacity for Economic Recovery
We prepare volunteers and connect them with
local EDOs who work with IEDC to create the
work plan.
Through EDA funding, we cover travel and
On-site work is done for one week
Technical assistance teams give advice for long-
term recovery
Volunteer Program - Post-Katrina
Economic Recovery (2005-2008)
Deepwater Horizon – Oil Spill
Volunteers contributed 850 days of
service to distressed EDOs and
their constituent businesses.
Volunteer Program
IEDC Volunteer Program for Post-Katrina Economic Recovery in Gulf
Coast (2005-2008)
Volunteers contributed 850 days of service
o Briefing for over 145 small business contractors and developers on
emerging opportunities in the 17 Target Recovery Zones
o Consultations on economic development best practices,
o Organizational assessments and strategic planning,
o Organizational mentoring and capacity building,
o Orant-writing and resource development assistance,
o Disaster preparedness counseling.
o Small business recovery counseling.
Economic Recovery Assessment
Immediately After a Disaster
Cedar Rapids Economic Recovery Assessment (2008)
o US Chamber of Commerce’s Business Civic Leadership
o Addressed the recovery needs or gaps
o Provided specific recovery recommendations.
Galveston Economic Recovery Assessment Technical
Report (2008) (Hurricane Ike)
o Economic impacts
o Business retention, small business
o workforce
o the city’s leadership role
o the downtown district
o strategic planning
o communications strategy
o organizational issues
Small Business Assistance
Federal Disaster Recovery Funding: Minimizing
Roadblocks to Maximize Resources (2013)
o Guidance on which federal agencies assist communities
and states in economic recovery
o How to assist small businesses
o Guidance on obtaining waivers of specific funding
Case Studies on Post-Disaster Small Business Finance
Programs (2014)
o Briefing highlighting six case studies of how American
communities have utilized public, private, and a mix of
public and private funding to aid small businesses to return
to operations and thrive following a disaster
Other Options
Technical Assistance for
Long-term Recovery
Technical Assistance -
Long-term Recovery Strategies
Developing a Regional Tourism Strategy for Greater
Galveston Region (2010) (Hurricane Ike)
o Tourism recovery strategy for four counties in TX.
o Recommends key opportunities, challenges, and
action steps.
Action Plan for Strengthening the Beaumont
Region’s Entrepreneurship Ecosystem (2012)
(Hurricane Ike)
o Complete analysis of the region’s observed
entrepreneurship strengths and challenges.
o Provides a comprehensive set of recommendations for
the Commercialization Center and the Beaumont
Technical Assistance:
Implementing Recovery Strategies
Recreating Destinations: Rebuilding the
Tourism Industry after Disaster (2013)
(Hurricane Ike)
o Highlights key partners in the post-disaster economic
recovery stages for the tourism industry.
o Overview of strategies for immediate and short-term
recovery stages
o Strategies to build stronger, more vibrant tourism
Rebuilding the Fisheries Industry Following a
Disaster (2013) (Hurricane Ike)
o A web page of resources and links for rebuilding the
o Challenges and strategies for recovery
Technical Assistance:
Hurricane Irene Impacted Communities
From 2012-2016, IEDC fulfilled 3 grants for EDA-Atlanta and EDA-
Philadelphia totaling $2.6 Million post hurricane (2010)
Work covered declared disaster areas and non-declared
neighboring counties and cities
o Needs Assessment
o Community Leadership Training
o Technical Assistance
o Best Practice Research
o Interactive Workshops
o Economic Development Consulting & Technical Assistance Teams
Strengthening Business Retention,
Expansion, and Attraction Efforts In Town of
Union, NY (2014) (Hurricane Irene &
o Recommendations on how to improve the
Town’s BRE and attraction efforts to promote
resiliency for future disasters.
o North Carolina project (2015-2016)
o Assisted a 10-county area with strategic
planning and economic diversification advice.
Technical Assistance -
Hurricane Irene
Technical Assistance in Springfield, MA
o In 2014 - Published a report on “Targeted Neighborhood
Redevelopment in Six Corners and Old Hill for the City of
Springfield, MA” for local clients City of Springfield and
Rebuild Springfield
Technical Assistance in Cumberland County, New
o Site visits (2014 – 2015)
o Ways to enhance tourism recovery strategies and
economic resilience in the Bayshore area
o Final report is being delivered this week
o Technical Assistance to Pawtucket, Rhode Island
o Site visit January 2015 – Downtown revitalization project
Technical Assistance -
Hurricane Irene
Implementing Recovery Strategies
Aligning Partnerships for a New Business Incubator in Tuscaloosa, AL
(2014) (Post-Tornado)
o Workshop for the city, university, and EDGE Center partners to
discuss goals, roles and strategies
Economic Recovery for Colorado Springs & the Town of Manitou
Springs , Colorado (2014) (post forest fires and flood)
o Long-term recovery strategy team of IEDC members and federal
officials provided recommendations in 2 visits
Training for
Resiliency & Economic Recovery
Training in Disaster Preparedness &
Economic Recovery
Leading Economically Resilient Communities: What Public Officials
Need to Prioritize Before & After a Major Economic Disruption
(2012) (Hurricane Ike)
o Held in Houston, TX and Lake Charles, LA
o Focused on how public officials can support critical economic preparedness and
recovery activities within their community to protect key economic assets and
encourage resiliency among local businesses in the event of a major disaster.
Lessons from National Post-Disaster Response & Recovery,
Presentation to Baton Rouge, LA (2005) (Hurricane Katrina)
o Provided overview of Katrina and comparison to other hurricanes
o Provided example of disaster recovery efforts and strategies from three major
o Outlined optimal recovery strategies for economic recovery
Training in Disaster Preparedness &
Economic Recovery
Building a Stronger Entrepreneurship Ecosystem - Beaumont, TX
(2013) (Hurricane Ike)
o Connecting entrepreneurs and small businesses to capital
o Provided strategies for building organizational capacity
o Organizational Management and Finance for Business Incubators
Capital Access for Entrepreneurs – Lake Charles, LA (2013)
(Hurricane Ike)
o Interactive workshop for small business support organizations, funders and
Interactive course for community leaders in
Resiliency & Economic Recovery
Originally developed for the Delta Region
Now taught in14 states (2015 – 2017)
o Interactive workshop for community leaders
o Courses available from 90 minutes up to 2
days in length
o 10 course modules customized to regions
Training in Disaster Preparedness &
Economic Recovery
In summary, some
lessons learned
Lessons Learned: strategic
planning pre- and post-disaster
Communities must build “resiliency” into their thinking, vision
and plans
EDOs should take an active role in planning and encourage
steps to build back better, for example in infrastructure
o Having “shovel-ready” plans helps expedite funding
o It’s human nature that people and businesses like to be near
water, but EDOs should not encourage development within
flood-prone areas
o Sometimes it is helpful to get outside advice and facilitation
Lessons Learned: variety of
creative financing is needed
Many businesses do not have the proper insurance either for floods or
business continuity – encourage business continuity training
o Small businesses lack sufficient working capital to survive following an
o Businesses struggle with long-term financing needs
o Less than 25% of businesses that apply for SBA funding actually qualified.
o Relax documentation requirements, no fees is a big help
o Consider setting up a grant fund for businesses most in need
Small business owners often lack knowledge of how to operate in a post-
disaster environment – offer case management
Lessons learned: crisis
Timely, accurate communication is vital need during and
after a disaster
o Prepare a spokesperson
o EDOs should have personal contacts for business owners
o EDOs are using social media to reach out during crises
o Communicate jurisdiction is open for business to help get commerce
going again
o Setting up a business recovery center is a key activity of
EDOs for long-term recovery
o Should be easy to access, can even be a mobile center
o One-stop location for forms, advice, case management for
Keep a Broad Perspective
o Comprehensive Plan & Stimulus Plan
o Community Input
o Expert Opinions
o Learn to use all state and federal resources
o You’re not alone: jump-start your recovery with best practices
of other communities (see
Focused Recovery Groups
o Business Recovery Task Force (local)
o Long-Term Recovery Task Force (local, regional, state)
o IEDC volunteers - what can you delegate?
o Technical assistance teams long term strategies
When you are in the middle of it, it
doesn’t make sense. But you have to
catch your breath and think about how
you want to rebuild your community.”
– Rick Duquette, Grand Forks City Administrator