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2013 Horizons Economic Forecast

Post by Debbie Cockrell / The News Tribune on Jan. 11, 2013 at 10:15 am |
January 11, 2013 10:19 am
Professors of Economics at University of Puget Sound, Douglas Goodman Ph.D., right. and Bruce Mann Ph.D. looks at the award that they received after making their forecast for the 2013 Pierce County's economy at the Greater Tacoma Convention & Trade Center on Friday, Jan. 11, 2013. They are relinquishing their roles this final year to Pacific Lutheran University. (Lui Kit Wong/Staff Photographer)
Professors of Economics at University of Puget Sound, Douglas Goodman Ph.D., right. and Bruce Mann Ph.D. looks at the award that they received after making their forecast for the 2013 Pierce County’s economy at the Greater Tacoma Convention & Trade Center on Friday, Jan. 11, 2013. They are relinquishing their roles this final year to Pacific Lutheran University. (Lui Kit Wong/Staff Photographer)

To see our tweets of highlights from this morning’s economic forecast breakfast presented by the Tacoma-Pierce County Chamber, see Kathleen Cooper’s Twitter feed from earlier today. Among the highlights of statistics and numbers presented by Bruce Mann and Douglas Goodman, economic professors at the University of Puget Sound:

2013 will be tough for commercial & office real estate. Lots of volume and lots of regional competition.

Lots of apartments coming on in 2013, which will keep rents flat.

In 2013, housing sales will improve. Predicting annual gain of 7.6 percent. 4.6 in 1Q; 6.9 in 2Q; 8.9 in 3Q; 9.9 in 4Q.

Pierce County had only about 500 more jobs in 2011 than in 2010. In 2012, employers added 5,500 new jobs.

More good in 2013: Grand Alliance at Port of Tacoma. Aerospace and aircraft production. Health care and education.

This year, spending at JBLM will total almost $540 million on upgrades. 55K troops and 40K dependents will help too.

In 1Q 2013, Pierce County economy will grow 2.1 percent and 2.5 percent in 2Q. Then 3.2 in 3Q and 3.3 in 4Q.

Last year’s economy needed Dramamine. This year will be smoother, Mann said Friday. While not exactly driving a Maserati of expansion, Pierce County is driving a recovery, Goodman said.

Read more in Saturday’s News Tribune.

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