A panel of economists was cut up Thursday afternoon over their optimism for Clark County within the coming years.
The 4 specialists spoke at The Columbian’s Financial Forecast occasion, which drew tons of of enterprise and authorities leaders from across the area to the Hilton Vancouver Washington.
“Predictability is very important,” stated Matthew Gardner, a distinguished Seattle-based actual property economist with Gardner Economics, who gave the keynote presentation.
“Things are changing so remarkably rapidly right now,” Gardner stated.
The panel stated Clark County’s numbers are largely constructive, particularly in contrast with Portland and its different suburbs.
Extra individuals are transferring to Clark County, and people transferring in have larger incomes than these leaving — whereas the alternative is true in Multnomah County, Ore., stated Mike Wilkerson, director of financial analysis at Portland-based ECOnorthwest.
“On a map, we are adjacent, but if you look at the economies, we couldn’t be more different,” Wilkerson stated Thursday.
Going ahead, the panel agreed housing affordability in Clark County will grow to be a bigger concern as much less land is on the market for constructing and the inhabitants continues to extend.
However regional financial indicators, reminiscent of employment progress, are nonetheless trending upward, stated Scott Bailey, financial marketing consultant and former regional economist for the Washington State Employment Safety Division.
“Just from looking at the data as it is now, there is a lot of reason to be optimistic,” stated Emily Robertson, regional economist with the state company.
Clark County is doing fairly nicely in contrast with the state and surrounding counties, she added.
Robertson stated the county has one of many state’s most numerous economies, which she known as a energy.
Whereas Wilkerson doesn’t suppose Clark County is anyplace close to a recession, he stated he doesn’t have loads to be optimistic about with regard to federal insurance policies.
Wilkerson stated Portland having a poor financial system can have impacts in Clark County, given the county’s reliance on migration from Oregon.
“The region needs to thrive,” he stated.
He raised tariffs, housing affordability, rates of interest and immigration as potential points for the area.
Bailey stated he thinks workforce cuts to the Bonneville Energy Administration and U.S. Forest Service might have direct impacts on the county, and new federal insurance policies will have an effect throughout the nation.