December 17, 2019
COB's Kleckley provides Carteret County economic outlook
Dr. James Kleckley provides an economic outlook to Carteret County business leaders and officials
Dr. James Kleckley, director of professional services and research at ECU’s College of Business, recently presented an economic outlook for Carteret County and its neighboring communities. The presentation focused on leading U.S. economic indicators for the national economy, a national and statewide forecast for 2019-2020, and how the nation’s growth and outlook impact North Carolina and Carteret County.
Kleckley’s economic outlook also was sponsored by CresCom Bank with additional support coming from Carteret Community College, Duke Energy, and North Carolina’s Crystal Coast Economic Development.
The purpose of the presentation was to:
- educate attendees on how Carteret County economic data compares with the national and state economies;
- show how economic variables like the national deficit, recent trade tariffs, and Federal Reserve interest rate changes are affecting Carteret County and its region (including Onslow and Craven counties); and
- reveal regional opportunities available to business and community leaders.
Don Kirkman, center
“The provided data demonstrates how the local economies correlate with and are affected by what’s happening at the national and state level,” said Kleckley.
“Dr. Kleckley’s presentation yesterday at the Carteret County Economic Outlook Luncheon event was very interesting and informative,” said Don Kirkman, Carteret County economic development director. “More importantly, it was extremely beneficial to the approximately 100 business and local government leaders who attended. As both private and public sector leaders plan and budget for 2020 and beyond, they need accurate, current data to guide their decisions. The information Dr. Kleckley shared in his presentation will help inform those decisions, which is why we hope to make this an annual event for our community.”
Takeaways from the event included:
- Neighboring employers, e.g., the military bases, are important drivers of Carteret County economy.
- I-42 corridor should bring increased tourism and enhance the importance of the port in Morehead City.
- The region should benefit more effectively if Carteret, Onslow and Craven counties leverage each other’s assets and partner with each other to achieve mutual goals.
The Carteret County economic outlook is the second in a series of presentations the College of Business is making available to counties in 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.
Randy Ramsey
Randy Ramsey, chairman of the UNC Board of Governors and founder and president of Jarrett Bay Boatworks, helped kickoff the event by highlighting the positive impact ECU has had on eastern North Carolina.
“ECU is a hub of partnership activity that puts business and community leaders in contact with the talent and cutting-edge research that can mean the difference between success and failure,” said Ramsey. “At the same time, these partnerships put students in contact with mentors in the community who can help nurture and guide innovative, entrepreneurial enterprises.”
Kleckley is scheduled to provide a similar presentation in March 2020 in Elizabeth City.
Source: US Department of Commerce, Bureau of Economic Analysis, Regional Economic Accounts