Restoring Regional Economies in the Wake of Disaster

In 2008, disasters swept across the United States with unprecedented ferocity. Nationwide, over $50 billion in destruction was caused by 37 different catastrophes, including tornadoes, hurricanes, drought, wildfires and tropical storms. Based on the stories that unfolded in the aftermath of these events, there is evidence to suggest that post-disaster economic recovery is an imperfect process.  It is one that often requires a refined approach to public-private partnerships, improved access to funding and a more regional perspective. 

The National Association of Development Organizations (NADO) Research Foundation, with support from the U.S. Economic Development Administration (EDA) and other partners, is focused on exploring methods that hasten post-disaster economic recovery and reduce the long-term financial burden of disasters on impacted communities, businesses and individuals.

An agency with job creation and economic improvement as its primary purpose, EDA identifies disaster recovery as a necessary element in achieving its broader goals. In 2009, EDA invested nearly $30 million, as part of a combined $500 million disaster allocation, into 48 different regional development organizations around the country to bolster post-disaster economic recovery efforts through revolving loan fund (RLF) investments, technical assistance for businesses and local governments, workforce development and disaster coordination.