Haas Center for Business Research and Economic Development

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Association of Fundraising Professionals Economic
Update
Haas Center for Business Research and Economic
Development Rick Harper, Ph.D., Director February
9th, 2009
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• Spring 2009 Economic Drivers in the National
  Picture
• Wall St./liquidity freeze (future taxpayers pick
  up the tab)
• Slow or negative GDP growth (-3.8 Q4, weak in
  2009)
• Housing market bottom late 2009 (growth begins
  anew)
• Monetary policy (Fed aggressive, lacks ammo)
• Fiscal policy (huge deficit challenges, 1
  trillion stimulus)
• Energy prices / inflation (headed in right
  direction)
• Growth abroad slows (had been US export driver)
• Trade deficit shrinks (oil prices fall, exports
  grow, stable)
• Foreign Direct Investment (US as bargain basement)

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• Northwest Florida Outlook 2009/2010
• Housing purchase prices more affordable
• Insurance property tax high monthly ownership
  costs
• Population growth across Florida now slower than
  national average, NW FL somewhat insulated but
  not immune
• Residential real estate market recovery still a
  year away
• Commercial real estate market weakens
• Unemployment rises
• Availability of skilled labor rises
• Be thankful were not Ft. Myers military
  payrolls, drive-to destination
• But state budget crisis deepens
• Demographics (in-migration) trump slowdown over
  time

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Oct 08
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Pensacola Bay Area Chamber of Commerce, 1st
Friday Economic Update Questions?
Haas Center for Business Research and Economic
Development Rick Harper, Ph.D., Director February
5th, 2009
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Association of Fundraising Professionals Economic
Update Questions?
Haas Center for Business Research and Economic
Development Rick Harper, Ph.D., Director February
9th, 2009