Beacon Economics Presents First Annual North County Forecast At Hancock College
Jarrod Zinn
SANTA MARIA, Calif. (KEYT) – Allan Hancock College hosted the first annual North County Economic Forecast at Boyd Concert Hall this morning.
This event is intended to give a clear picture of the state of northern Santa Barbara and SLO counties’ marketplaces.
The keynote speaker, founding member of beacon economics Dr. Christopher Thornberg, explained how differing narratives can impact resulting statistics.
“I appreciate that we live in an age of increasingly hysterical narratives, and you are so used to hearing about the economy or households being at the cliff edge, on the edge of a meltdown they can’t take anymore,” says Thornberg.
He says the economy is just fine, and used statistics to prove his point.
“You look at the data… Actually, employment markets are full,” says Thornberg. “Consumption is at an all time high level. There’s not been this k-shaped recovery. Most every level of American household is doing better than they were a number of years ago.”
Worth noting is that while some of the cities in the North County, such as Santa Maria, are considered in some circles to be the poor parts of the county, the agricultural industry in these towns is providing some of the most positive numbers.
“So the underlying data doesn’t match what we see in those headlines, on a day to day basis,” says Thornberg.
To illustrate this, he cited stats such as how many miles people have been driving, tourism levels, fluctuating immigration, and numbers attributed to the sports and wine industries.
“Beacon Economics has created these reports for various other communities, and those communities have been able to create plans for their growth economically,” says Santa Maria Valley Chamber of Commerce’s economic development and business engagement manager Efrein Salazar.
Many attendees say several of Dr. Thornberg’s bullet points surprised them, but gave them a clearer picture of the north county’s most vital economic patterns.
“It’s a function of leaders staying away from those narratives that suggest redistribution and policies that restrict change are the way to go,” says Thornberg. “Rather, embrace change and understand the positive benefits it could bring us, ultimately.”
The presentation was followed by a q and a session that added an interactive element.
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