Recovery versus Resilience
Recovery is defined as returning to a normal state of mind, health, or strength. Resiliency is defined as the capacity to recover quickly from difficulties. By simply focusing on recovering the regional economy to status quo, in the face of future economic shocks, the region will not be resilient enough to react quickly to avoid similar economic damage that 2020 has brought.
By focusing on a resilient economy – increasing diversity and inclusion in the workforce and supply chain, bringing new industries to the region like offshore wind, providing businesses with resources they need to become adaptable in the face of shock, building regional pride to attract and maintain talent, finding solutions to the region’s sustainable infrastructure needs, and so much more, Hampton Roads will be better situated to not only withstand the next economic shock, but thrive in the face of it. While the region recovers from today’s most recent shock, having an action framework in place will help prepare Hampton Roads for shocks of the future.