Business Owners Discuss Economic Forecast

Jan 17, 2013 6:37 PM

The housing and job markets were both topics of discussion at Thursday’s Regional Economic Forecast Conference in Oroville.
"We are looking at strong positive growth, I think over the next year," Dan Ripke, Director of the Center for Economic Development said.
The leaders of the Center for Economic Development at Chico State say 2013 should bring about a round of cautious growth for small businesses as the state budget stabilizes and the housing market continues to improve.
"A lot of small business owners are funding their small businesses in some respect through their own personal credit line. So to have that degree of stability and understanding that stability moving forward is important," Ripke said.
One of the things holding some business owners back is the threat posed by the federal debt ceiling and fiscal cliff.
Despite those bumps, economists are still predicting improvement as recent entrepreneurs begin expanding their fledgling companies.
They say the businesses that will see the biggest improvement are those that focus on local resources.
“The regions that are thriving are finding a way to use the great local resources and assets they have and reposition them in ways that are consistent with a new innovation-based economy," Kish Rajan, the Director of the Governor’s Office of Business & Economic Development said.
When it comes to those resources like timber, water and agriculture products, local economists say there is room for improvement.
"In the consolidation that has happened in a lot of the ag processing, some of the better, bigger processors have moved out of the area. So we need to bring some of those back," Ripke said.
Another area that local businesses will be looking at in the coming years is a move towards local manufacturing that will increase revenue though local exports.


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