This morning Rick Harper, Ph. D., addressed The Emerald Coast Association of Realtors and The Building Industry Association of Okaloosa-Walton Counties on the economic and housing forecast of 2016.
- Economic activity results from matching area resources (supply) with needs in the marketplace (demand).
- Improving the quality of local assets (labor, capital, natural resources, intellectual property, entrepreneurial ability) allows assets to earn a higher return in the marketplace.
- The high-wage, sustainable jobs of tomorrow will go to those with the skills to create and use new technologies. Routine, non-cognitive tasks will either be automated or off-shored.
- Safe streets and good schools are essential to healthy growth.
- Small and new businesses have been the net job generators, but that role has been changing over time.