You might think I’m referring to “recession” preparation but I’m talking about “growth” preparation. Yes that can happen during a downturn in macroeconomics. It can happen at a local level and it can happen in Tampa. Our region is still poised for growth. It’s our decision to take it in that direction, with the actions we take.
You see it happening everywhere you go, with every article you read and with every new person you meet that has moved to Tampa recently because of great things they’ve heard. Progress has begun and we should push it as far as we can with our positive momentum.
The decisions we make in 2019 are going to help shape how long we extend this recovery and how we prepare for the next up-cycle. What we do with our money, being disciplined in budgeting and who we vote for as our new mayor that helps push forward major initiatives in city planning, transportation, education, urban development and sports stadium decisions.
if you’re in business locally you can see the wave of activity coming from our tech sector and our consumer goods distribution industry. Local tech entrepreneurs and veterans are building, scaling and selling ideas which are producing great returns for themselves and their investors. They are also creating and bringing jobs to the area, which is increasing our talent pool. These are new jobs that are increasing our population locally and getting the attention of corporations that follow population growth in order to market their goods to a wider set of eyes. We’ve seen it with Amazon, Wal-Mart, Gatorade, DHL as well as others and it doesn’t appear to be slowing down.
Nationally, there are indicators to watch in 2019 that will shape the macroeconomic picture. Below are some links to articles that will provide insight into where to pay attention and how to prepare. Job growth is still positive year over year, even if there is a current slow down in the expansion of the pace of that growth. The same goes for consumer confidence and the leading economic index, which are both at high historical levels yet their pace of growth is slowing.
Any tailwinds that this expansion had are slowing down, but the headwinds aren’t as fierce as we’ve seen in the past that would take us into a drastically negative position. That combination could offer a perfect-storm situation where as long as we listen to the lessons of our historical cycles we can expect a soft landing. From there, if we make the right decisions, we can expect to see an even more productive recovery the next time around.
It starts locally and it affects everything nationally, so pay attention to progress in our region, support it and push it forward until it stops you on its own. Also, know what to watch for on a national and global level. Here are a few more valuable insights from articles that are well written in their assessment of any looming headwinds:
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