5th Annual IE Economic Forecast Conference – 10/29/14 – Citizens Business Bank Arena

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Team Title Guy would like to share some excellent notes, and outstanding tips for Economic Development from the nation’s leading Economic and Business Professionals from top Universities in California!  Here is some of what we learned from the Annual Inland Empire Economic Forecast Conference.

Edward Leamer – from the UCLA, Anderson School of Business:

 Growth is a must, right now we have not come back to a full recovery of the expected 6% growth.  Governments have been built, and budgeted for the 6% line. We have to get back there or there will be more critical consequences in the future.

 The impact of technology and cost cutting measures and the workforce: companies need to lean out their balance sheets.  Workforce training is imperative!

 California leads the nation in a Post-Industrial World!

 We cannot lead and grow with the leading sectors being healthcare and leisure (not-sustainable).  Workforce development is a must for growth!

Manfred Keil Associate Professor of Economics – from Claremont McKenna College:

 Currently no leading indicators for any pending recessions in the near future.  Based on all models, they have predicted in the past ahead of the crash.  Anticipated unemployment at end of 2016 is 5.5%

 Jobs have been made back, but the jobs are not the same level of jobs.  Most growth is in Leisure and Education.

 Strongest areas in IE are the areas that border LA, Orange, and San Diego counties.  Unemployment levels are lowest here.  Remote areas reflect lower high school graduation rates, and hence lower employability. Education is important!

 Shifting into higher gear in the IE.  We’ve got to make the area is more attractive to business. Truly believes this is the time to enact change!

Industry Leaders response to the forecast:

 Foreign investment in IE is extremely strong, bidding on projects and premiums are being paid for projects in process, and this has not happened since 2007.  E-Commerce is driving our marketplace, and a huge impact in the IE with distribution centers here locally!

 People with productivity skills WILL NOT have a problem finding a job!

 We hope you will find this information useful!  For any more questions on the 5th Annual IE Economic Forecast Conference, please contact Team Title Guy, at Ticor Title!

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