Economic Developers Lower Expectations for 2013
06 Mar, 2013
Economic development officials across the country report lowered expectations for 2013 as prospect activity in the second half of 2012 was lower than expected, finds Avalanche Consulting in its biannual survey, Economic Development Activity Index, conducted earlier this year. The economic development consultancy, based in Austin, Texas, specializes in workforce development, strategic planning, target industry analysis and more.
With lower prospect activity over the last six months, the six-month outlook for announcements of new investments also has fallen dramatically. Fully half of those surveyed expect job-creating announcements to decrease in the next six months, the highest percentage since the recovery began.
Most economic developers viewed their state and local economic policies as fair to good, but an overwhelming majority, 73 percent, view federal policies as poor. “These are chief economic officers for 160 cities and regions in the United States, and they have their fingers on the pulse of what’s happening,” says Chris Engle, vice president, Avalanche Consulting. “They are talking to companies all the time about economic conditions and whether they will grow and expand, and these companies are pretty negative about what they see in Washington, D.C.”
Learn more about the Economic Development Activity Index.
Illustration by gubgib at Free Digital Photos.net
Compiled from Avalanche Consulting press material.