State and local economic outlook good
The economic outlook for the state of Georgia and the Golden Isles for the upcoming year is “good news,” according to Ben Ayers, dean of University of Georgia’s Terry College of Business.
Ayers made the forecast for the year Monday at the Jekyll Island Convention Center as part of the university’s annual Georgia Economic Outlook tour across the state.
Ayers opened his presentation by recognizing Woody Woodside, the Brunswick-Golden Isles Chamber of Commerce for more than three decades. Woodside will retire later this spring.
For the sixth year in a row, Georgia will outpace the national economy, with 2019 predicted to be as good of a year as 2018, in terms of growth, Ayers said. Despite the tight labor market, he said the state economy is “surprisingly well balanced.”
It’s also the sixth consecutive year Georgia has been ranked No. 1 in the nation as the best state to do business.
The economy is expected to grow about 3 percent this year, slightly down from the 3.5 percent growth experienced last year. Nearly every sector from construction and education to health care and the hospitality industry will continue to grow.