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Anirban Basu says new Bubbles are Forming at Economic Forecast Breakfast
"Momentum should see us through 2017/2018...but by this time in 2019/2020, the economy could be in a far different place and likely will be." That was just one of the conclusions reached by economist Anirban Basu and shared this morning at our annual Economic Forecast Breakfast.
Anirban started things off with a summary on economic conditions globally, touching on the factors that have led to an all time high for global debt. Nationally, we are in the 101st month of the current economic recovery, but as Basu said, no recovery can last forever. In general, Basu explained that growth in personal consumption has been driving America's growth rather than investment. Since the 2016 election, Basu says that businesses have reported an increase in confidence because of policy proposals for tax reform, a decrease in the corporate tax rate and infrastructure investment, but that confidence, hasn't led to actual investment yet.
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One area that has been seeing investment, especially from outside the U.S. because of a weak global economy, is commercial real estate. Basu says there are indications of 'mini-bubbles' forming in commercial real estate, particularly in the office, lodging and multi-family segments.
Basu then turned the conversation to Maryland and Howard County. He started by saying that Maryland is currently ranked 3rd in the country for job creation, which he says he has never seen before in his 26 years as an economist.
Drilling down even farther, Howard County currently has the lowest unemployment rate in the state. But Basu says the statistics don't tell the whole story in Howard County. He affectionately refers to Howard County as schizophrenic when it comes to development. On the one hand he predicts that there will be a rising demand over the next decade for single family homes as millennials enter their mid-thirties. But he says that demand may not lead to enough new single family homes being built, because of a mentality by some residents that Howard County should not continue growing in terms of development.
For a look at Anirban Basu's entire presentation,
click here.
For a look at our Annual Economic Survey,
click here.
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Event Sponsorship Opportunities Available for as little as $250!!!
Events like this morning's Economic Forecast Breakfast would not be possible without the support of our amazing annual sponsors, but did you know that you could sponsor one of our upcoming events for as little as $250?
There are still a few sponsorship opportunities available for our
Legislative Preview Breakfast on November 29th and our annual
Jingle Mingle Holiday Party on December 14th. They are two very different events, but both are big events with lots of opportunity to get some exposure for your brand while helping support the important work we do for our members.
For more information on sponsorship opportunities call Kristi Simon at 410-730-4111 or email her at
[email protected]
.
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Image360 Has a New Owner and a New Home
Congratulations to Bill Jones, a 25 year veteran of the electronics industry, who is now the owner and General Manager of Image360 Columbia. Along with a new owner, the company is also picking up stakes and moving to a new location at 9176 Red Branch Road in Suite M. You can find Bill and the rest of the Image360 team at their new location as of November 1st!
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impactHR's Kelly Mitchell Selected for "2017 Top 100 Minority Business Enterprises" Award
Congratulations to impactHR's Principal, Kelly Mitchell, on her selection as a "2017 Top 100 MBE winner" by the Capital Region Minority Supplier Development Council.
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2017 Howie Award Nomination Forms Now Available
The Howard County Arts Council is still looking for nominations. The Council is asking for nominations of individuals and businesses that have made a significant contribution to the arts in Howard County for their 2017 Howie Awards.
For more information about the award rules, or to nominate your business or another member business in the community, please email
Kristi Simon a
[email protected]. The deadline for submissions is
October 30th.
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Congratulations to Reclaim You!
Chamber President/CEO Leonardo McClarty, Chamber ambassadors and County Executive Allan Kittleman were on hand today to celebrate a ribbon cutting with one of our newest members, Reclaim You!
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Thank you to our new Ribbon Cutting Sponsor, the Better Business Bureau serving greater Maryland!
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Historic Public Financing Deal for Downtown Columbia Takes a Step Forward
Despite a repeal bill introduced last month by Howard County Council members Jen Terrasa and Calvin Ball, it appears county officials are ready to move forward with the closing of $48 million in bond sales as part of the historic public financing deal for downtown Columbia according to the Howard County Times.
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Ellicott City Watershed Master Plan Evening Workshop
Join Howard County Executive Allan Kittleman and the Department of Planning and Zoning for two workshops where you can weigh in on options for the Ellicott City Watershed Master Plan.
November 14, 2017 - 6:30 p.m.
St. John's Parish Day School
November 15, 2017 - 1 p.m.
Roger Carter Community Center
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Members Wanted for Howard County's Commission for Women
Howard County Executive Allan Kittleman is looking for applicants for the Commission for Women. The committee, comprised of twelve members, helps promote the economic, social and political equality of women in Howard County. Applications can be submitted to the County Executive for approval up until
November 10th.
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Open Enrollment Information Session to be Held in Howard County
Starting November 1st, you can apply for a 2018 health or dental plan, or change your current coverage. Maryland Health Connection is providing an information session in Howard County this December.
December 9, 2017 - 10 a.m. - 2 p.m.
Howard County Health Department
8930 Stanford Boulevard
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Check Out Our New Office at Our Fall Open House!
We are settled in to our new office at
6240 Old Dobbin Lane in Suite 110 and we are gearing up for a Fall Open House.
Join us a week from today, Thursday, November 2nd for a tour, refreshments and a chance to chat with our awesome Chamber staff. The event is free, but
please register here so that we know to expect you!
November 2, 2017 - 3 - 6 p.m.
Howard County Chamber
6240 Old Dobbin Lane, Suite 110
Columbia, MD 21045
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Join a Committee at the Howard County Chamber of Commerce
Interested in getting more involved with the Chamber?
Sign up today for any of the following committees:
- Ambassadors
- GovConnects
- Holiday Party
- Legislative
- Membership
- Signature Events
- YPN
Contact [email protected] to join a Howard County Chamber of Commerce Committee today!
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