I will be attending the BIG Ideas Conference hosted by the Alliance for Innovation in Fort Lauderdale. I co-authored one of the discussion papers for the conference with Kendra Smith. The paper takes a critical look at what it takes to build cities and communities that are economically resilient.
Economic Resilience: No Big Ideas Needed!
Resilience is one of the most bastardized terms when it comes to planning and management jargon. We all want resilience, yet it means drastically different things to many people. To some, resilience is the ability to respond to shocks and abrasions in the environment, while others think of resilience as the ability to continuously innovate and stay ahead of the curve so as not to become obsolete. Economic vulnerability and economic resilience play a strong role in cities’ resilience. Economic vulnerability is an entities proneness to exogenous shocks coming from economic features such as economic openness, export concentration, and dependence on strategic imports. Economic resilience is the ability of an organization, whether it is a business or a city or even a country, to withstand the impacts of financial and economic shocks and to bounce back quickly, or to avoid shocks through proactive planning and interventions. In this paper, we will explore the many facets of economic resilience, drivers of economic resilience, investing in resilience, and the risks of resilience planning. Additionally, we will offer domestic and international examples of cities that have experience with resilience planning, either through risk reduction or after-the-fact resilience planning. Finally, we will conclude with a discussion on the realities of economic resilience.
Please email me if you would like a copy of the paper.
I also serve on the Board of Directors for the Alliance for Innovation and am looking forward to engaging discussions during our board meetings.