SUPPORTING COVID-19 ECONOMIC IMPACT ASSESSMENT
When the City of Galveston, Texas needed to quantify the economic impact of the COVID-19 virus, Titan Technologies collaborated with the Galveston Economic Development Partnership (GEDP) and one of its solution partners, Verity, to roll out an enhanced Economic Impact Assessment tool.
Traditionally, Economic Impact Assessments are either a predictive or post incident analysis. The need for real-time, geo-referenced tracking of the economic impacts of this devastating Coronavirus on local business communities, cities, counties, and states is unique.
Titan Technologies, with guidance from GEDP staff, collaborated with Verity to reconfigure their incident management system to capture the economic impact on individual business and provide City leaders with critical aggregate data, reports and visualization of the magnitude of the economic impact.
The Verity IMS Economic Impact Assessment tool was deployed and the Galveston Economic Development Partnership staff with the help of its local business owners are populating the tool with relevant data and utilizing the results to assist with requests for aid from SBA, FEMA, and other agencies.