Economic Resilience
The economic security of a region is closely tied to its ability to prevent, withstand, and quickly recover from major disruptions. Building economic resilience involves identifying potential risks, evaluating their impact, and developing responsive strategies. Shocks are sudden, acute events that can disrupt a region, while stresses are chronic conditions that weaken it over time. In Louisville, identified shocks and stressors from past resilience strategies remain relevant. The Economic Development Administration (EDA) emphasizes the importance of incorporating resilience into regional planning through comprehensive goals and fostering communication among stakeholders. Key initiatives include diversifying the economy, building a resilient workforce, promoting sustainable development, and enhancing collaboration across public and private sectors to address economic, social, and environmental challenges.
Physical Resilience
Building physical resilience in the KIPDA region is essential for withstanding and recovering from natural disasters, as it directly affects businesses’ ability to reopen and ensures access to care for vulnerable populations. KIPDA focuses on hazard mitigation planning and other resiliency projects to enhance the region’s preparedness. The National Risk Index, developed by FEMA, assesses natural hazard risks, including tornadoes, ice storms, and flooding, with Jefferson County identified as having a “relatively high” risk score. Flooding, now one of the top five risks in the region, poses a significant threat, especially given the region’s numerous vulnerable structures in floodplains and the risk of dam failures. The region’s expected annual loss from natural hazards is $154.95 million. With increasing heavy precipitation, stringent planning is necessary to bolster resilience against future natural disasters.
Pandemic Response
The County Economic Impact Index (CEII), developed by Argonne National Laboratory, tracks the economic impact and recovery of local economies during the COVID-19 pandemic. While counties like Oldham, Shelby, and Spencer have rebounded to pre-pandemic levels, others such as Bullitt, Henry, Jefferson, and Trimble are still recovering. KIPDA is developing a Pandemic Recovery and Resiliency Plan to assess the pandemic’s effects on the region, summarize recovery resources, and recommend strategies to enhance future resilience. Local Health Departments played a crucial role during the pandemic by coordinating testing, contact tracing, and community outreach, despite challenges like funding cuts and staff shortages. Their ability to adapt and connect with vulnerable populations highlights the need for continued support and coordination across government levels to prepare for future emergencies.