The National Weather Service has indicated that Hurricane Harvey is beyond anything experienced. In addition to the immediate concern we have for the safety and security of those in Houston and surrounding areas, I begin to worry about how they will recover economically. The hard work of building communities and neighborhoods is literally being washed away as I write.
Houston is our country’s fourth largest city and an important port and energy center for the United States. The natural disaster suffered by those who live there will also impact supply chains and national economic growth.
At the local level in Texas, those who were disadvantaged before the storm will suffer more than others. Those without insurance or much slack in their financial rope will need more than just our thoughts to get back on their feet. Like families impacted by the tragedy, some businesses will recover and others will not. Efforts to rebuild physically, emotionally and financially will be gigantic.
Disasters can happen anywhere. While local and state governments have plans in place for such events, few economic development groups do. The International Economic Development Council has a list of resources to help you consider who you would turn to if your community was put in such a situation.
To help the people of Texas by donating to Red Cross recovery efforts, please click here.