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COVID-19 has substantially impacted almost every aspect of life and the local economy of Cooke, Fannin and Grayson Counties. Customers were forced indoors. Workers were furloughed or let go as demand slowed or resources became difficult to obtain. Sick time increased as remaining workers battled infection. Businesses shuttered – some permanently. Some businesses performed very well throughout the pandemic. However, others survived only through a combination of grit, ingenuity, and assistance through loans or grants.
Statistically, we are only now beginning to understand the impacts of COVID-19 and the full impacts will not be fully understood for some time. What is known is that this will not be the last economic disaster faced by the area and, in fact, it may not be the worst. But like any disaster, the pandemic has taught the importance of preparation and advanced action.
For that reason the Texoma Council of Governments has requested development of an Economic Disaster Mitigation Plan for the three county region.
The purpose of the plan is to:
Understand the potential worst case economic scenario for the area of Cooke, Fannin and Grayson Counties (based upon the pandemic and additional circumstances).
Prepare a program that is unique to the area and builds resilience against economic shocks, including the worst case scenario so that,
In a best case situation, the region will be able to avoid the worst case scenario economic shock,
If it cannot, then allow the region to have the adaptability and strength to endure during economic shock, and
The local economy can recover in a way that is as robust or better than before shock occurred.
Recognize the role that TCOG can play in building local resilience before, during and after an economic shock has taken place.
COVID-19 has substantially impacted almost every aspect of life and the local economy of Cooke, Fannin and Grayson Counties. Customers were forced indoors. Workers were furloughed or let go as demand slowed or resources became difficult to obtain. Sick time increased as remaining workers battled infection. Businesses shuttered – some permanently. Some businesses performed very well throughout the pandemic. However, others survived only through a combination of grit, ingenuity, and assistance through loans or grants.
Statistically, we are only now beginning to understand the impacts of COVID-19 and the full impacts will not be fully understood for some time. What is known is that this will not be the last economic disaster faced by the area and, in fact, it may not be the worst. But like any disaster, the pandemic has taught the importance of preparation and advanced action.
For that reason the Texoma Council of Governments has requested development of an Economic Disaster Mitigation Plan for the three county region.
The purpose of the plan is to:
Understand the potential worst case economic scenario for the area of Cooke, Fannin and Grayson Counties (based upon the pandemic and additional circumstances).
Prepare a program that is unique to the area and builds resilience against economic shocks, including the worst case scenario so that,
In a best case situation, the region will be able to avoid the worst case scenario economic shock,
If it cannot, then allow the region to have the adaptability and strength to endure during economic shock, and
The local economy can recover in a way that is as robust or better than before shock occurred.
Recognize the role that TCOG can play in building local resilience before, during and after an economic shock has taken place.
COVID-19 has substantially impacted almost every aspect of life and the local economy of Cooke, Fannin and Grayson Counties. Customers were forced indoors. Workers were furloughed or let go as demand slowed or resources became difficult to obtain. Sick time increased as remaining workers battled infection. Businesses shuttered – some permanently. Some businesses performed very well throughout the pandemic. However, others survived only through a combination of grit, ingenuity, and assistance through loans or grants.
