Center for Regional Economics and COVID-19
Regional Collaboration Is Key
The Center for Regional Economics has designed a response and recovery framework to help policymakers understand the benefits of regional collaboration for mitigating specific economic challenges and supporting broad-based recovery. We have focused on improving systems for allocating capital to the hardest-hit sectors of the economy, particularly small businesses. We are also guiding business owners on the proper course of action for protecting their economic health and that of their employees.
Small businesses employed approximately half of US workers before the pandemic.
Congress appropriated $349 billion toward small business loans in March
The US Small Business Administration has a network of at least 1,800 approved lenders that process small business loans and intends to add more
Regional Response and Recovery Framework
Our policy recommendations are intended to help state and local ensure the current and future economic health of their communities. It is difficult to predict whether and how federal government intervention will effectively meet communities’ particular needs. Still, cities and counties cannot act to contain the spread of the virus nor limit its economic impact without explicit backing from state governments.
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