This paper aims to provoke fundamental thinking and action around the value and importance of socially-equitable development to the economic advancement, resilience, and prosperity of communities, as we contend with the 21^st Century grand challenge of the changing climate and disasters. As local communities and the global community have experienced an increased frequency, intensity and duration of natural and man-made disasters over the past several decades, opportunities have also grown to identify and reap the benefits of socially-equitable economic development. Reflecting on the COVID-19 pandemic, we discuss the critical importance of socially-equitable economic development to the resilience and sustainability of communities and the infrastructure that supports them. To this end, we: (1) examine what constitutes socially-equitable economic development at different spatial scales of community; (2) explore whether socially-equitable development can occur at different scales of community; (3) explicate the importance of formally considering the inputs, processes, outputs and outcomes for socially-equitable development; (4) explain why the pursuit of equal distribution of the benefits and burdens of development is a necessary but not sufficient endeavor for socially-equitable economic development; (5) analyze the relationships between socially-equitable development, and resilient and sustainable infrastructure and communities; (6) explain why socially-equitable development should be a key component of infrastructure and community resilience strategies in the 21^st Century; and, (7) explain why socially-equitable development can ultimately be viewed as a long-term strategy for prosperity.