Economy

Groundbreaking of MOLO's The Village @ West Jefferson

The COVID-19 pandemic wrecked havoc in our lives and in our economy in an historically short period of time. At the end the longest economic recovery period in modern time, we are now faced with high unemployment and vast uncertainty that has impacted more than bank accounts - impacts that disproportinately affect our marginalized communities.

As we look to recover, we must focus on refueling and accelerating our economy, while also being intentional about including all Louisvillians in the recovery.

This focus area team will be tasked with answering the following questions:

  • How will our core industries - advanced manufacturing, logistics and e-commerce, food and beverage, health care and aging innovation, and business service - evolve and contribute to our recovery?
  • How do we protect and promote our existing businesses in recovery?
  • When the economy/employment dips, small business creation rises. What can we learn from past cycles that informs the current situation? What can we expect, and how do we best support them?
  • What role can local banking/community finance institutions play in recovery?
  • How do we better tout the strength of our bi-state region?
  • What actions can open opportunities for economic mobility and financial stability for all Louisvillians, particularly in historicially marginalized communities?
  • What are public and private supports are necessary to keep the shovels in the ground and the cranes in the sky?

Metrics may include unemployment rate, KentuckianaWorks labor market reporting, job postings, hotel occupancy, airport flights, conference bookings, and Minority, Women, and Disadvantaged Business Enterprise procurement statistics.

The work will be built on the foundation already established in existing plans, including Vision LouisvillePlan 2040Resilient Louisville, Prepare LouisvilleMove Louisville, and Greater Louisville Inc.'s TEConomy Report.