Building Community Resilience
Mary W. Rowe, President & CEO, Canadian Urban Institute
Tariffs may be off the table for a month, but the risk to the economy is a wakeup call for governments, city builders, business leaders and consumers to make local economies stronger and more resilient to global geopolitical events over which we have little control.
Whether or not these challenges last a long time, CUI suggests this is an opportunity – very similar to the recent global pandemic.
Local economies faced similar, daunting challenges before. During the COVID pandemic lockdowns, main street and downtown businesses pivoted quickly to online portals and local delivery services, repurposed sidewalks and streets, and created new activities to restore the vibrancy of their shared spaces. Recovery has depended on a collective sense of purpose and urgency from all levels of government, businesses, nonprofits and consumers.
Since then, the real estate development sector and its investors and regulators also quickly looked for ways to introduce more housing options into downtowns and main streets, creating more complete neighbourhoods.
During the economic crisis during COVID, Canadian businesses, thought leaders, academics, local politicians and consumers united to find innovative ways to protect and support local economies, The decisive actions we collectively took during the pandemic were pivotal in bolstering the capacity of local economies to swiftly adapt to new challenges, ensuring their competitiveness and viability.
Potential tariffs present a formidable new challenge, but the critical lessons learned during the pandemic taught us that together “we can overcome again with resilience and determination and create the changes to future-proof our local economies.
As they did during the pandemic, CUI is gathering and distributing solution-focused actions governments, businesses and BIAs, city builders and individuals can implement today - with or without tariffs - to make local economies stronger and resilient. CUI is also bringing together thought leaders across the country and distributing resources that provide armour to protect against the local impact of a trade war.
This is just the beginning of our efforts – we will also be gathering thought leaders, industry experts, city builders, academics, and equity deserving groups to give voice to solution-focused resources and advice to strengthen local economies. Stay tuned.