Financial experts: Georgia’s economy outgrowing U.S.
Hundreds of business and government leaders were at the annual economic outlook presentation in Macon.
“2016 is going to be a good year,” Dr. Ben Ayers, the Dean at the Terry College of Business at the University of Georgia, said. “Probably more importantly, it’s going to be higher than our historical trends.”
He says for the first time since the recession, the state is seeing growth in consecutive years.
Business leaders from across Middle Georgia filled the annual economic outlook presentation curious to know where the state stands financially.
“It’s always good to know what’s going on in our economy. It does have a local impact,” Greater Macon Chamber of Commerce President & CEO Mike Dyer said.
A local impact experts expect to stuff residents pockets.
“We’re going to exceed the rate of growth of personal income growth nationally as well as exceed what we experienced in 2015,” Ayers said.
“The way the economy shapes up just gives everybody I think a bounce to their step. You know if things are going well, then you kind of feel better and you tend to spend a little of your money instead of holding it,” Myers said.
Ayers projects Georgia’s continued growth is because of more business development across the state. Company plants, like Kumho Tire in Macon, are bringing thousands of jobs.
He adds more people moving to the peach state along with the housing recovery are helping put a bright outlook.
“The continued low oil and gas prices will also be something that really helps the state of Georgia as well so those were a couple of factors that we think will bode well for Georgia in 2016,” Ayers said.
Ayers tells 41NBC Georgia once led the nation in bank failures and home value depreciation. He says all of those factors are now swinging in a positive direction and helping the state’s economy.