5 Pillars of Economic Resiliency: A Guide for Building Resilient Communities

Economic resilience refers to “the ability to withstand, prevent, or quickly recover from major disruptions—or shocks—to its underlying economic base,” according to the Economic Development Agency (EDA).

In response to the widespread impact of COVID-19, the UT Center for Industrial Services’ EDA University Center developed the "5 Pillars of Economic Resiliency," a guide designed to provide economic developers and community leaders with practical tips and resources to integrate resiliency into their economic development strategies.

The guide includes links to key resources from state and federal partners, as well as checklists and assessments to assist in disaster response and recovery efforts.

Economic developers play a vital role in fostering economic resiliency in their local and regional economies. Being prepared and aware of available resources can significantly enhance a community’s ability to recover from disruptions.

From maintaining a robust business retention and expansion plan to digitizing recruitment tools and transforming the workforce for the future, economic developers must think holistically and creatively, while embracing diversity and regionalism, to help their communities become more economically resilient.