Ignite Foresight!

Resilient Economy

Economic resilience is a community’s ability to foresee, adapt to, and leverage changing conditions to their advantage. Economies are resilient when they have:

  • The ability to recover quickly from a shock;
  • The ability to withstand a shock; and
  • The ability to avoid the shock altogether.

Shocks may include:

  • Downturns in the national or global economy impacting demand for local goods and spending;
  • Downturns of industries critical to local economic activities; and
  • External impacts such as natural or man-made disasters, closures of a major employer, changing climate, etc.

With the Great Recession behind us and economic uncertainty ahead, now is the perfect time to keep our focus on resiliency efforts. Our long-term economic prosperity is linked to our ability to deal with disruptions to our local and regional economic base.

Critical Questions:

  • How do we build an adaptable framework for prosperity and continued growth in a changing environment?
  • What is our economic growth and change strategy?
  • What are our local market and regional market opportunities?
  • What are the opportunities by sector?
  • How can we revitalize certain areas of town, such as Downtown or strip centers?
  • How do we strengthen recruitment and retention efforts?
  • What is our recruitment and retention sector focus?

Through our Ignite Comprehensive Planning Efforts, we will explore how to:

  • Define and plan for a diversified economic base
  • Focus recruitment and retention efforts
  • Implement economic development plans
  • Ensure fiscal sustainability

The Ignite Foresight Hub will provide important information and potential strategies to help the community answer these questions.

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