August 8, 2019
COB economist provides Wayne County with economic outlook
COB Economist Dr. James Kleckley provides economic data to Wayne County community and business leaders
Dr. James Kleckley, director of professional services and research at ECU’s College of Business, recently presented an economic outlook for the Wayne County Chamber of Commerce. The presentation focused on leading U.S. economic indicators for the national economy, a national forecast for 2019-2020, and how the nation’s growth and outlook impact North Carolina and Wayne County.
The event attracted 135 attendees.
Kleckley’s economic outlook was sponsored by Union Bank. The Wayne County Chamber of Commerce organized and promoted the event. The purpose of the presentation was to:
- educate attendees on how Wayne County economic data compares against national and state economies;
- show how the national deficit, recent trade tariffs, Federal Reserve interest rates are affecting the Wayne County economy; and
- reveal opportunities available to business and community leaders.
Interim Chancellor of ECU Dan Gerlach, right, joins Kleckley in discussing the role of energy in Wayne County economic development.
“The provided data demonstrates how the local economies correlate with and are affected by what’s happening at the national level,” said Kleckley.
Takeaways from the event included:
- economic development is hindered by a lack of skilled labor to fill job openings;
- more education results in higher-quality jobs and higher income, which provide a better tax base for the county;
- expanding Medicaid in North Carolina not only will help more people obtain healthcare, but it will also help rural economies expand and will improve the quality of life in those areas; and
- today’s manufacturing jobs are very different from what they used to be. Textile jobs are returning to North Carolina, but the plants look very different. Today, there are more engineers in those facilities. The output is higher but with fewer employees and more automation.
The Wayne County economic outlook is the first in a series of presentations the College of Business is making available to counties in eastern North Carolina. Along with providing actionable data, the College of Business also wants to highlight opportunities for growth and help communities develop strategies to make those opportunities become a reality.
Interim Chancellor of ECU Dan Gerlach also attended and spoke at the event.
Kleckley will provide a similar presentation in October for Carteret County in Morehead City. The sponsor for that presentation will be Crescom Bank.
Please contact Dr. Judy Siguaw at siguawj@ecu.edu or 252-328-1323 to engage Kleckley’s services or to inquire about other College of Business professional offerings.
Source: US Department of Commerce, Bureau of Economic Analysis, Regional Economic Accounts
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