How can municipalities support their local economy?

The Corona pandemic is not only challenging our social life and especially the healthcare system, it is also a threat to local economies. Shops, restaurants and cafés are closed, tourists stay home, events are being cancelled. Smaller, local companies fight for their economic survival due to financial losses. 

In his input Josef Lentsch, Managing Partner of The Innovation in Politics Institute, highlighted 3 possible approaches and underlined them with best practices. 

1. SHOWCASE: Use digital solutions to support local businesses
   Practice: Supporting local and regional retailers in trouble
2. INCENTIVIZE: Engage local community to support local businesses
   Practice: A Voucher system that helps local entrepreneurs
3. REPURPOSE: Help to create innovative solutions
   a) Hostel as accommodation for health workers
   b) Distilleries produce hand-sanitizer