Impacts of COVID-19 on issues and industries central to an innovation corridor’s success

Abstract

The Innovation Corridor is a regional economic development concept that leverages the innovation and placemaking assets of smaller North Carolina cities and towns within a 100-mile radius of an established, high-performing innovation hub (i.e., the Research Triangle Park and surrounding metro areas). RTI International created the Innovation Corridor Blueprint to assess how to generate higher-wage job opportunities and more equitable economic growth across a larger region in the coming decades. In addition to the Blueprint, RTI developed this Addendum, which includes 12 research briefs on issues related to economic growth and recovery in the era after COVID-19. The Addendum is intended to help planners, policy makers, and other key stakeholders better address the challenges of uneven regional economic development and social and economic inequality as they position the Corridor region for future growth. These disparities existed prior to the pandemic but have been magnified by COVID-19-induced business closures, job losses, and resulting housing, health, and food insecurity. Six of the 12 issues emphasize broader regional development considerations and six issues are focused on business and industry. This Blueprint Addendum analyzes what impacts, if any, COVID-19 and equity issues have
had on different elements of the Innovation Corridor Blueprint. What challenges and
opportunities have arisen in the short term, and what longer-term trends have become
more pronounced in light of COVID-19 and recent protests.