Performance Metrics for Economic Resiliency from Natural Disasters

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Organization:

International Economic Development Council

City:

Washington

State:

District of Columbia

Organization Overview:

The International Economic Development Council (IEDC) is a non-profit, non-partisan membership organization serving economic developers. With more than 5,000 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities, by creating, retaining and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. IEDC has active programs in economic recovery and resilience, support for entrepreneurs and diversity, equity and inclusion among others.

Project Name:

Performance Metrics for Economic Resiliency from Natural Disasters
Project Type: 
Performance Management

Project Overview:

IEDC has a strong program in disaster recovery and resilience assistance, dating back to Hurricane Katrina, and provides technical assistance to communities in more than twenty states related to devastating economic impacts from floods, hurricanes and volcanoes.  But IEDC’s work, and other research in this area, often lacks a clear set of parameters to measure failure or success in recovery and resiliency initiatives.

Increasingly communities around the U.S. are confronting the high human and economic costs of natural disasters, including floods, hurricanes and fires.  IEDC is requesting a white paper be. This paper is designed to help communities demonstrate and measure the economic development returns of investing in planning for economic recovery and resilience - defined as the ability to recover, withstand or avoid the “shock” altogether. Many aspects are intangible, but others can, in fact, be quantified. As performance metrics are a hallmark of any high-performing economic development organization, this paper attempts to bring similar rigor to the concept of economic recovery and resiliency.
     

For this project, the student would compile and analyze performance metrics or indicators most commonly found during a review of economic recovery and resiliency metrics used by 8 to 12 North American communities where in at least one-half IEDC had provided some form of technical assistance.  This review should be accomplished through some combination of interviews and/or analysis of reports, and data sources at the local, regional and state level which could be from public, private or public-private organizations.  IEDC could facilitate introductions to contacts in these communities in some cases.

Deliverable(s):

The product from this project will be a white paper.  In this paper, the student should be able to define and demonstrate the use of performance metrics for economic recovery and resiliency.  This project has the potential to set a standard for this important area of economic development.


Fels Institute of Government

The Fels Institute of Government
3814 Walnut St. 
Philadelphia, PA 19104

(215) 898-7326
felsinstitute@sas.upenn.edu