Equitable Economic Recovery: A Toolkit for Local Governments
The pandemic has taken an unimaginable toll on our country’s small businesses – particularly those owned by women and diverse individuals.
Struggling local businesses has led to struggling local economies. Thus, economic restoration in local communities has become a top priority for cities and governments in their COVID-19 recovery plans.
In March of 2021, President Joe Biden passed the American Rescue Plan, the monumental $1.9 trillion coronavirus relief package, which included $350 billion in funding to state and local governments as part of their COVID-19 economic recovery. If used properly, this groundbreaking package has the potential to make a lasting and impactful change to correct inequities in our state and local economies, with $16 billion going to funding relief for local governments.
When creating recovery plans and deciding how to allocate their new funds from the American Rescue Plan, it is imperative for cities and their partners to ensure that the recovery is equitable for all businesses.
LISC LA has created a toolkit to provide local cities and municipalities with tangible steps to ensure that their COVID-19 economic recovery is as equitable as possible. This toolkit is informed by LISC LA’s years of experience working in community and economic development and creating strategies that promote equity and economic inclusion in neighborhoods across Los Angeles County and beyond.
This resource is based on a new type of PPP for cities looking to create an equitable economic recovery, the three P’s: Place, Procurement, and Portal.