Strengthening Economic Resilience Discussion At Charlotte’s CO-LAB Yields Key Takeaways
Pandemics, financial crises, policy shifts and other economic shocks can rattle even the strongest economies, but a focus on resilience can soften the blow. This is a key takeaway from a “Strengthening Economic Resilience” panel last week with academic, business and policy experts from the Belk College of Business, the Charlotte region and Ireland.
The Belk College and the Irish American Business Alliance of North Carolina hosted the discussion at CO-LAB at UNC Charlotte Center City, the academic and research partner for the North Tryon Tech Hub.
Observations from the experts were consistent.
- Plan now for the next disruption, with a focus on endurance.
- Diversify, so that more than one business sector can define the future.
- Invest for the future, through talent development and capital strategies.
- Face challenges together.
Panelists revealed similarities among North Carolina, the Charlotte region and Ireland and discussed the importance of Ireland and the state’s trade relationship. Ireland is the largest importer to North Carolina, mostly due to pharmaceuticals. In one significant aspect, Ireland supplies active pharmaceutical ingredients for many of the pharma plants being built in North Carolina, including in the Charlotte region.