Shaping the Future of a New Economy

by Maria S. Salinas

The COVID-19 pandemic wreaked havoc on families, communities, and livelihoods. Its impact was being felt well beyond hospital doors, through shuttered businesses, lost jobs, and a stagnant economy. Yet, despite the challenges we have overcome as well as the challenges which still lay before us, this moment presents an opportunity to reinforce our societal structures to be more resilient, smarter, and more equitable—in other words, we have the opportunity, as we are rebuilding our economy, to build a better and more sustainable future.

Los Angeles is no stranger to enhancing sustainability due to necessity. Environmental changes, including those caused by COVID-19, are uniquely impactful in Los Angeles because of its population, global economic activity, and sheer size.

As we attempt to emerge from the pandemic, businesses are confronting a number of issues and questions. What will the “new” economy look like? How will businesses interact with customers and clients? How will employers recruit and retain job seekers? All in an effort to understand the real question - what will “business” look like going forward?

Rebuilding our economy will not be easy. It will take the collaborative efforts of all members who contribute to the diverse economy of the greater Los Angeles area. Can we expect industry to return to its pre-pandemic status? We know we will evolve to a new business model, but what will that mean to employers and their employees? Are there efficiencies, born from our response to the pandemic, that will continue?

We will continue to convene business and policy makers to deliberate on how we can shape the future of our new economy. Only then can we effectively exercise our voice to ensure our region’s interests are represented with an emphasis on equity and opportunity.  

Join the Chamber’s State of L.A. Business, a virtual conference where we will convene the region’s leading voices in business, across multiple industries, to share insights on the state of business in the region. Let’s shape future which works for all.