Office of the Mayor COVID Task Force for Economic Stabilization and Recovery

Challenge

The Coronavirus pandemic catapulted Bloomington into a period of uncertainty. Residents, businesses, and local nonprofits needed avenues to work together to face these new challenges. Initial Monroe County unemployment filings rose to approximately 1,000 claims in the week of March 21, 2020. Though the leisure and hospitality industries were hardest hit early in the crisis, everything from retail to small manufacturing and HVAC services was also affected. Additionally, a domino effect was expected as businesses became unable to pay suppliers, landlords, and mortgages, something we are seeing more of now as 2020 nears its end. 

Idea

To address rising concerns quickly, Mayor Hamilton designated an Economic Stabilization and Recovery Task Force (ESRTF) which consisted of six members including Bloomington’s Director of Economic & Sustainable Development. The other five members included the President of the Bloomington Chamber of Commerce, the Executive Director of Dimension Mill, Inc., the Assistant Director of Small Business Development, the President of Bloomington Economic Development Corporation, and the Executive Director of CDFI Friendly Bloomington. This model of joint problem-solving across these partners had not been typical before COVID-19 came to Bloomington. 

The ESRTF worked to engage partners across Monroe county and the region to develop relief efforts in response to rising unemployment statistics. In particular, the ESRTF recommended the City of Bloomington provide wraparound funding and non-funding support for employers and individuals. Examples of aid and resources provided by ESRTF-driven initiatives include: 

• Promoting access to centralized information, resources, and technical assistance through entities like the Indiana Small Business Development Center; 
• Hosting procurement summits with partners to enable businesses throughout the region to learn how to sell products and services to government entities and major industries; and 
• Identifying mechanisms for short-term regulatory relief, such as extending license renewals. 

Cost

Within the first two months of the pandemic, Bloomington's business community reported its most critical need was immediate working capital in amounts under $50,000. At the recommendation of ESRTF, the City of Bloomington was able to leverage public funds, create small-dollar, rapidly-deployed capital with short-term deferral, no interest, and simple eligibility criteria, and provide 1.6 million dollars in emergency funding to local nonprofits and businesses to help them survive. 

Benefit

ERSTF engaged partners across the county and region to roll out and adapt emergency support quickly and early on in the COVID pandemic. Ongoing collaboration across our region, and reaching employers while they adapt resources amidst global challenges, is now the task force’s focus. 

Metadata:

City Departments: Office of the Mayor, Economic & Sustainable Development, Community & Family Resources

Point of Contact: Alex Crowley 

Partners: 

Economic Stabilization and Recovery Task Force Members - Pat East, Executive Director, Dimension Mill, Inc.; Jane Kupersmith, Asst. Director, Small Business Development (City of Bloomington); Brian Payne, Executive Director, CDFI Friendly Bloomington; Jennifer Pearl, President, Bloomington Economic Development Corporation; Erin Predmore, President & CEO, Greater Bloomington Chamber of Commerce

Date of Innovation: Spring 2020