ETSU forum discusses Helene economic impacts and rebuilding

JOHNSON CITY — Experts from the local to federal level gathered at East Tennessee State University Friday as part of a forum to discuss Helene recovery in the region.ETSU College of Business Center for the Study of Finance hosted the "Hope After Helene" event, focused on the economic effects the storm has spurred in the region and possible avenues for recovery.Local leaders and financial experts as well as representatives from the Tennessee Emergency Management Agency and the Small Business Administration spoke at the forum. They presented Helene's economic impacts on the region, TEMA's role in recovery, examples of communities who have rebuilt and other financial resources."We have a lot of things that we really need to do and it's going to be years before we can fully recover from this storm," said ETSU Associate Professor of Economics Jon Smith.Smith shared various kinds of ripple effects a disaster can have on the economic health of a community. Those effects range from a GDP spike due to millions of dollars in rebuilding investments to workers leaving the region due to less housing."We've taken a heck of a pounding, and we are starting to recover. We're now at the point of trying to figure out how we're going to go for the long-run to recover from this devastation that we've got," Smith said.Nonprofit leaders and investment professionals explained what financial strategies and opportunities are available for that long-run recovery, like tax incentives and lending options."The government is a wonderful resource often, and I would surmise that many of our local government representatives understand… the money that you get from your government is not all that you're going to need," said Bryan Phipps, president and CEO of the nonprofit organization People, Inc.Phipps shared how People, Inc., worked with West Liberty, Kentucky to rebuild and finance key parts of the community after it was hit by an EF3 tornado."The questions that many communities have to ask themselves when they're stricken by disaster is 'what kind of community do we want to become?'" said Phipps.The Small Business Administration Lead Public Affairs Specialist Tauheedah Marteen walked through the SBA's resources after a disaster, and TEMA Non-Governmental Partnerships Manager Kate Amaral broke down how government assistance is activated. The two agencies operate under different legislative rules.Applications will soon open for $85 million in grants through the Tennessee Department of Economic and Community Development. Amaral said TNECD proposed that the money be allocated to single family housing, infrastructure and small business recovery.A common thread throughout the presentations: locals are best positioned to drive recovery efforts.ETSU Professor Kevin Kilgore organized and coordinated the forum. It will be available online at the College of Business Center for Study of Finance website.Jorgelina Manna-Rea is an environmental reporter at Six Rivers Media through Report For America.More Information{span}Other speakers included Hunter Whiting with BrightBridge Capital and Tracey Mitchell with Pathway Lending.{/span}