Economic Development

In 2020 the US Department of Commerce Economic Development Administration funded HVRC through the CARES Act to assess the impact of the COVID-19 pandemic on the Mid-Hudson Region. This assessment, called the CARES Project, is designed to provide the EDA, the US Department of Commerce, and the US Senate and House with information on the pandemic’s impact on our regional economy, and is expected to be used to inform allocations and target federal funding to address the Mid-Hudson's specific needs. In addition to presenting the pandemic’s impact on the Mid-Hudson economy, HVRC’s CARES Project reported on the local lessons learned and best practice responses as well as outlined national best practice responses to the pandemic and provided best practice options for responding with resilience to future impacts on our economy.  The CARES Project report and CARES Resilient Economy Webinar Series are provided below.

Towards A Regional Resiliency Network 

Economic Resilience and Recovery Guide

HVRC hosted the CARES Resilient Economy Webinar Series. The recordings and presentations are provided below.

• Resilience & Economic Development Recording | Presentation

Building capacity for economic recovery after a disaster – whether it is a pandemic, the loss of a major employer or industry, or a natural disaster – is a wise move. This webinar discussed how you can measure resilience to be better prepared for natural and manmade shocks that may set your economy back. The webinar gives an understanding of the roles of local, regional, state, federal, and philanthropic partners and how all can come together for a faster recovery.

• Retaining Small Businesses After a Crisis Recording | Presentation

Small businesses are the backbone of our economy, yet often they get left behind to fend for themselves when there is a crisis. This webinar will explore why it is so important to pay attention to business retention, to understand who is the most vulnerable, and ways local governments can help ensure small business survival as part of a community’s economic recovery. The webinar will discuss specific steps that can be taken as well as creative financing and technical assistance to help businesses get back on their feet.

• The Role of Economic Developers in Crisis Communications Recording | Presentation

Although health and safety always come first, a second priority for communities is to get businesses back up and running, people employed, and local revenues flowing after a crisis. This webinar will discuss why it is so important that economic developers play a role in keeping businesses informed and communicating the “back in business” message. What communities can do to prepare, establishing roles, best practice examples, and pitfalls to avoid will be discussed.