On this week's Economic Report, Dr. Rick Harper discusses two economic development projects being pursued by the City of Pensacola. One plan calls for the expansion of ST Aerospace to Pensacola International Airport. Pensacola Mayor Ashton Hayward and the city have a memorandum of understanding with the aviation maintenance company, which currently operates in Mobile.
In this week’s Economic Report, Dr. Rick Harper discusses the outlook for 2014. Harper expects this year to be a little bit better than 2013. “The main reason for that is that we’ll see less of a drag coming from the federal sector. The slow down in federal spending last year probably subtracted 1.5 percentage points from GDP (Growth Domestic Product) growth. We could have been up almost 4 percent," Harper says.
According to Harper, the shrinkage in government spending should be less in 2014, with some of the hardest hits already with Sequestration.
In this week’s Economic Report, Dr. Rick Harper discusses Florida’s general revenue estimate for Florida, which projects what the sales and use tax revenues will be. The latest forecast from state economists shows an increase o f$300 million relative to the summer projection.