"Annual Economic Forecast"

According to Patricia Silverstein, President of Development Research Partners, the Colorado economy is set for a turn-around in about six to nine months. Silverstein addressed the SMDRA membership on Tuesday, January 21st about the Economic Forecast for Colorado and the nation.

She stated that the three challenges to Colorado's economic prosperity were the possibility of war, the stock market corporate crisis and  lagging tourism. 

What we need to do now to overcome these challenges, according to Silverstein,  is to increase our economic development efforts, encourage small business formation, increase our business investments (buy that new computer for your business), and boost our consumer confidence.

She stated that net migration in the Denver metro area has diminished but not like the migration of the 80's.  Low interest rates have allowed for home sales to stay up in 2002 but affordable housing construction will become a necessity for the Denver metro area in 2003.

If you missed the forum, Silverstein's PowerPoint presentation is available on her website at www.developmentresearch.net. Click on Community Economic and Demographic Studies to find the presentation.