Results and Forecasts to Inform the Development of a Regional Economic Resiliency Strategy
LANSING, Mich. – The Tri-County Regional Planning Commission (Tri-County) is pleased to announce the completion of a Comprehensive Economic Impact Analysis of COVID-19 on the Greater Lansing tri-county region. As the designated Economic Development District for Clinton, Eaton, and Ingham counties, Tri-County promptly recognized the need to collect and analyze data to catalog the social, economic, and interrelated impacts of COVID-19.
This Economic Impact Analysis provides communities across the region – including local governments, nonprofits, businesses, and beyond – with the data necessary to make informed decisions when prioritizing funding and developing programs to effectively respond to the impacts of the pandemic.
Work on this project kicked off in early January 2021 with the collection of baseline data to establish the economic pulse of the region prior to the pandemic’s onset. Data trends of real-time impacts of COVID-19 were subsequently captured using federal, state, and local statistics. Additionally, over 20 interviews with representatives of major economic sectors were conducted to augment data collection, including those in small business, workforce development, nonprofit and social services, supply chain, private development, and transportation, among others. The project also incorporates modeling of potential scenarios for short- and long-term economic recovery.
“The coronavirus pandemic caused unprecedented uncertainty in our region and created deep and lasting economic challenges for our communities,” said Executive Director Jim Snell. “Understanding the past, present, and future economic and social health of the region is critical information needed to help inform policymakers and community leaders as they work to develop strategic investments in recovery initiatives and long-term economic prosperity”.
This report will be utilized to inform the development of a Comprehensive Economic Resiliency Strategy with goals, priorities, and actions that can help mitigate the effects of future economic disruptions, identify and address current vulnerabilities, and support short- and long-term recovery efforts. The full report, including a standalone executive summary, can be viewed at mitcrpc.org/resiliency. This project was completed with technical support from Tri-County’s consulting partner, Fourth Economy Consulting, and made possible with grant funding from the U.S. Department of Commerce Economic Development Administration through the Coronavirus Aid, Relief, and Economic Security Act awarded to Tri-County in late 2020.
Contact
Amanda Hathaway Frattarelli
Director of Marketing & Community Engagement
ahathawayfrattarelli@mitcrpc.org
517-898-1098
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The Tri-County Regional Planning Commission is a public planning agency established in 1956, serving Clinton, Eaton, and Ingham counties in Mid-Michigan. Tri-County makes our region a more prosperous community by planning for a strong economy, reliable transportation, and sustainable infrastructure and natural resources. We connect local organizations and governments to funding, technical assistance, data resources, and opportunities to discuss trends and challenges affecting the Greater Lansing area. Learn more at www.mitcrpc.org.
