Noted George Mason University economist Stephen Fuller updated his 2015 regional economic roadmap for an invited group of 250 business and policy leaders at an inaugural conference hosted by his Stephen S. Fuller Institute for Research on the Washington Region’s Economic Future on Wednesday, Oct. 4.
The intent of the conference at George Mason’s Arlington Campus was to provide “public and private decisions makers an update on the regional economy’s performance for 2017 and give an indication as to how it’s going to play out over the next 18 months,” Fuller said.
The Fuller Institute’s deputy director and senior research associate, Jeannette Chapman, reported on changes in demographics and migration in the Washington, D.C., area. Migration affects workforce, employment, housing and other factors within the economy.
Fuller’s presentation included an update on his “Roadmap for the Washington Region’s Future Economy,” a 2015 study of recommendations vital to improving the economy.
Fuller also focused on five challenges for the region, including a continuing dependency on federal spending, low-value job growth and a high cost of living that undermines competition for investment and relocation of businesses.
“We want the people in the audience to be grounded with a framework so they can understand why the region isn’t growing very fast,” he said.
He also reported on economic expectations for the coming year, nationally as well as regionally, as part of the conference.