Does Montgomery County Have What it Takes to be Economically Resilient During & After COVID-19?

Posted: by

Keys to Building Economic Resilience in Montgomery County Post-Pandemic

As we await post-pandemic life and speculate about our economic future, the idea of economic resilience—how quickly and easily we as individuals and society can adapt to and recover from a devastating economic blow—is on everyone’s minds. So let’s examine the idea of economic resilience: what the term “resilience” means for a local economy, what characteristics and conditions make local economies resilient in the face of economic challenges and how Montgomery County can position itself to be more resilient.

Local Economies, Adaptive Resilience, and Relationships

Economic resilience is adaptive resilience. This is different from the type of resilience we expect from our physical infrastructure, which “bounces back” to normal functioning … Continue reading

Five ways to support the retail and restaurant sector battered by COVID-19 restrictions to recover

Posted: by

The retail that helps define Montgomery County’s character is struggling. The necessary COVID-19 restrictions that reduce crowds will continue to challenge retail in Montgomery County even after the lockdown eases, but the county has policies and programs that could help landlords, retailers, employees and the customers they serve.

Montgomery County’s extensive retail sector with 40.6 million leasable square feet across 2,390 properties (Source: CoStar) serves a diverse population and is a key amenity for the County. In their 2017 Retail Trends Study, the Montgomery County Planning Department highlighted vibrant, small retail businesses and recommended that the County would “benefit from focusing on the development and support of these unique small businesses, as these businesses are market differentiators for the … Continue reading

COVID-19 and the Economy: People Employed in Montgomery County’s Service, Retail, and Hospitality Occupations and Industries Hit Hard by Pandemic

Posted: by

Several weeks into the COVID-19 pandemic, it has already become cliché to say that we are living in unprecedented times, but it is still too early to understand exactly how severe the economic damage will be, and how it will effect Montgomery County and its residents. While hundreds of thousands are already suffering the direct health effects of the COVID-19, the indirect economic fallout from the near closure of the economy is also becoming apparent. From the weeks ending March 21 through April 11, over 22 million people filed for Federal unemployment insurance in the U.S., including over 38,600 people in Montgomery County. This volume has far surpassed all previous records. The $350 billion Paycheck Protection Program created by … Continue reading

Thrive Montgomery 2050: How does the COVID-19 pandemic shape our plans for the future?

Posted: by

For more than a year, we have been working on Thrive Montgomery 2050, an update to the General Plan directing the long-term vision and direction for land use and growth in the county. While public attention is understandably more focused on short-term issues, long-term thinking remains critical to guide how we respond to changes in the future.

From the beginning of the Thrive 2050 planning process, we have emphasized that the plan needs to be flexible and adaptable to a future in which change seems to happen more rapidly than in the past.  Where to do we want to be as a county in five, 10, 30 years? The framework for the plan identifies three key themes as core … Continue reading