Economy on upswing says local EDC head

March 25th, 2009 by Ken

The economic downturn has bottomed out and started to tick upwards, according to Thurston County Economic Development Council executive director Michael Cade, at least in the manufacturing sector.

Cade, and a small group of local educators and business leaders,  just returned from a 10-day trip to China, where Cade saw the manufacturing sector in China starting to rebound.  Cade said that China has closed more than 10,000 factories in the past quarter, but has stopped closing them and is even starting to reopen a few.  

According to Cade, that is a good signal for the US economy which purchases a significant amount of Chinese manufactured goods.

Cade made his remarks at the monthly meeting of the Lacey Chamber of Commerce’s Business and Economic Development Committee.

He talked about the Thurston Economic Vitality Index and said that local business leaders were starting to feel more confident about the local economy.   “Thurston County business leaders are more confident than national leaders,” Cade said.

He attributed the local confidence to Thurston County’s leveling influence of state government employment.  And while there is some concern that state government may have to make significant cuts to help balance the state budget,  “locally people are still feeling that the economy is serving them well,”  Cade said.

Posted in Business, Government, Informational, The Real News

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