Covid-19: Digital Age Disruption

Hello Fellow GEDA Members,

So much has transpired since our last newsletter. We want to assure all of our members that your association is hard at work on your behalf.  This is one matter that is challenging our entire state.  So, know that our hearts and prayers are with you and all the members of your community. Our economy has hit a pause, but there is a resilience amongst us as economic developers. Despite any challenge, we always find a way to innovate and respond and there is no shortage of that happening right now.  

There are tons of examples of innovation in various communities and we applaud you all for your determination.  I’m inspired by all things there are happening across the state, whether it’s grant and loan programs for small businesses, helping large businesses retool and respond with providing critical PPE’s, or simply generating business for our restaurants and small retailers.  For those that were hesitant about going all in on what the digital transformation has presented over the last few years, they are now required to embrace it. I don’t know about you, but I’ve done more video conferences in the last three weeks, than I’ve done over the last 3 years.

This pandemic will change the way we do business, the way we interact, network and live. Now more than ever it’s imperative that we have robust and redundant fiber internet connectivity.  If you don’t have a virtual means of showing your sites and buildings, get it done; if your businesses are not using mobile banking or taking mobile payments, encourage them; if your board members don’t understand GoToMeeting or Zoom, train them. 

I believe real estate demands as we know it are going to shift.  Companies will begin looking at communities much differently.  Consolidation of offices/facilities may give way once again to more divisional and operational locations.  Home offices are going to get even more popular.  Our institutions of higher learning have been forced into digital classrooms. What opportunities will that open up in the future?

I believe the more that we embrace what this digital transformation has to offer, the more we can help our environment, the more we can spend time with our loved ones, the fewer accidents we can have on our roadways. So, let’s be mindful of the times we are in, but be diligent about what the future entails.

God Bless you all!