Topeka Recognized as Economically Resilient Amid Pandemic Recession
TOPEKA, KS – April 23, 2020 – In data-driven article produced by Chmura, “The COVID-19 Economic Vulnerability Index,” it was found that Topeka is among the least economically vulnerable regions in the U.S. In the article, Chmura’s economists measured the negative impact of the coronavirus in a metropolitan area by estimating the rate of job losses.
Setting the represented average rate of job losses in the U.S. at 100, any score above that number indicates a higher rate that the country’s average and, conversely, any score below that would indicate the opposite.
Topeka received a score of 78; overall being ranked #12 in terms of least vulnerable. Similarly, the Brookings Institute featured an article last month that found Topeka to be among the least likely cities to be “hit hard” by the coronavirus recession; listing the city as 346 out of 382 other metropolitan areas most likely to be affected. GO Topeka and the Topeka, Shawnee County Community Recovery taskforce are optimistic about what these findings could mean for the community’s future recovery plan.
“Based on Chmura’s estimate, the entire Topeka Metropolitan Statistical Area (MSA) received an index score of 78, indicating that, relative to other MSAs, we are less vulnerable to high employment losses due to the current crisis; this is due to the mix of industries in our region,” explained Freddy Mawyin, research manager, GO Topeka. “While the index does not account for Topeka’s rate of virus infection, nor Kansas’s stay-at-home orders, and it is important to not discount the pandemic’s significant impact on our labor market, it is good news to know that we have the potential to be less susceptible to the crisis.”
“Our diverse mix of industries, such as food manufacturing, distribution and supply chain, health care, government and financial services, contribute to our resilient economy,” said Molly Howey, president of GO Topeka. “We are hopeful that this resiliency will provide our community a better opportunity at recovery than most other regions in the U.S.”
The resiliency of Topeka & Shawnee County’s economy is a key focal point for the newly formed Topeka, Shawnee County Community Recovery taskforce, whose aim is to ensure recovery across all sectors of the economy following the COVID-19 pandemic. A team of small business leaders and economic development professionals, under the direction of the taskforce, are dedicated solely to economic recovery.
“While Topeka, like every other community in the world right now, is feeling the effects of the pandemic, we have to recognize this data contributes heavily to the impact of our recovery plan,” said Brent Boles, co-chair of the Economic Recovery Taskforce, part of Topeka, Shawnee County Community Recovery, and partner, Schendel Lawn and Landscape. “I hope residents and business leaders can take some solace in these findings and recognize that their investment in this community has and will continue to be worthwhile.”
