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Jerry Mallot Gives Economic Forecast for First Coast

April 21st, 2010 · Leave a Comment

Jerry Mallot, President of Cornerstone, recently spoke at the Chamber’s Downtown Council to discuss our current economic climate and the future economy of our region. Here’s a quick recap of his program:

  • The past 2 or 3 years have been tough, but we are hearing better news now. Earnings are up for companies like CSX and Landstar and small businesses are gaining more traction.
  • We are returning to a “new normalcy” – we are spending, but doing it conservatively
  • Our unemployment rate is still high, but is beginning to go down
  • Bad news – 15,000 less jobs in our economy. Good news – we have bottomed out and are beginning to see more opportunities for interviews.
  • There have been 10 new projects with 930 new jobs since the beginning of 2010 thanks to companies such as Interline Brands, Mercedes Benz, Digital Risk, LPS, and many others

Mallot noted there is a lot of good news to talk about:

  • We are the 13th best place to start a business
  • We are a hot spot for young professionals
  • We are ranked 7th in the top 10 tax friendly cities

The Chamber and Cornerstone are developing initiatives that will drive our organization and help drive the economy, including:

  • Jobs – the most critical way we help our economy
  • Fill the stadium – keeping the Jaguars is a huge economic driver
  • Vibrant downtown – a vibrant downtown is important for the image of our city
  • Help the port – focus on issues like Mile Point and deepening the river
  • Funding for the carrier at Mayport
  • Helping second stage businesses grow and thrive in our region

What are your thoughts about Jacksonville’s economy? Let us know below by posting your own comment!

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