By Robin Micheli | Special to CNBC.com
For a long time the sunny weather in Phoenix and Orlando was matched by their economic climates, as both enjoyed soaring housing prices and prosperity in the early 2000s.
Then the Great Recession jolted the cities like a roller coaster at one of Orlando’s theme parks, taking them on a hair-raising ride that catapulted them from the tippy-top of the track straight down to the very bottom, with nary a loop or a roll in between. Like some battered American cities, they could have languished there. Instead, they not only climbed back but used the downturn as an opportunity to strengthen the resilience of their economies and promote future growth.
The two cities’ recoveries have much in common, including an emphasis on technology and renewed focus on education, quality of life, environment- and business-friendly policies and incentives, infrastructure and civic involvement. But none of it would have worked without leaders’ willingness to make bold investments in the future, craft inventive strategies, and collaborate—with the private sector and other municipalities—in order to find solutions to the complex challenges their communities faced.
