Local Economic Forecast Looks Sunny for First Time Ever - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Local Economic Forecast Looks Sunny for First Time Ever

Posted: Dec 19, 2017 11:11 PM Updated:
30th Annual Lower Shore Economic Forecast 30th Annual Lower Shore Economic Forecast

SALISBURY, Md.- Business leaders from all nine Maryland counties on the Eastern Shore came together in Salisbury on Tuesday morning to discuss the 2018 economic forecast.

One major finding from this year's study, conducted by the Business Economic and Community Outreach Network, was the local economy is projected to succeed the national for the first time in 28 years of research.  Director of BEACON Dr. Memo Diriker says this is a significant change. 

"For the first time in 28 years, they're saying the Eastern Shore is going to be doing better economically than the rest of the country. This is a big, big change," Diriker said.

Topics of concern for leaders at the meeting on Tuesday ranged from education to poultry plants to offshore wind.  Matt Drew with Lower Shore Wind says despite push back from Congressman Andy Harris and Ocean City officials regarding offshore wind turbines in Worcester County, the project will blow some big bucks to the Lower Eastern Shore.

"It'll add about between 40 and 60 jobs. It's about a 36 million dollar a year impact into the local economy," Drew said. 

President and CEO of the Salisbury Chamber of Commerce Bill Chambers says Maryland will suffer if other states are able to capitalize on this industry before we can. 

"Once again, let another state beat us to the punch, not only will we lose these jobs, but we'll lose other opportunities for other business to come to Maryland. Because once again, Maryland will be perceived as a business unfriendly state," Chambers said.

While taking advantage of these opportunities is key for Maryland, it looks like our economy will still have brighter days ahead in 2018.

 

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