RANCHO CORDOVA, CA (MPG) - About 165 guests attended the Business Outlook & Economic Forecast at the Marriott Sacramento Rancho Cordova. Sponsored by the Rancho Cordova Chamber of Commerce, the event started with buffet breakfast and progressed quickly into a local report by Chamber CEO and President Diann Rogers.

Rogers compared the 4^th quarter of 2020 with the 4^th quarter of 2021 indicating, among other things, an increase in building permits of 61.8%, of which 72% was for new production homes, employment up 2.7%, sales tax revenue up 61.8%, and transient occupancy tax revenue up 82.3%.  Building was down 8.3%.

The Chamber’s Business Confidence Survey comparing February 2022 with January 2021 showed that respondents expected, in the coming 12 months, an increase in sales and profits and improvement in local, state and national business conditions. The majority felt that employment would stay about the same. To see the results, e-mail Diann Rogers, [email protected].

Of the two keynote speakers, Matt Levin spoke first. Levin is senior reporter for American Public Media and contributes to NPR’s Marketplace.  He spoke on The Future of the American City, addressing five topics: (1) The consequences of remote work (many);  (2) How millennials will reshape the ‘burbs’ (more expensive, retrofitted public transit, change in demographic) (3) Consequences for public transit (ridership way down, gas prices may spur more use; (4) “Project Homekey” and Sacramento Mayor Steinberg’s “right to housing” proposal; and (5) Other: labor shortage, inflation, climate change, equity and inclusion.  In a private interview, Levin said about his vocation, “You need to be, I think, a little more creative with radio, need to be a little funnier than in print, basically.  I like it a lot.”

The second speaker, M. Scott Powell, spoke on What Does the Data Show? He is senior vice president at the Greater Sacramento Economic Council (GSEC). His presentation, assisted by the City of Rancho Cordova’s own economic development manager Amanda Norton, emphasized that local economy is driven by people and residents, not just companies. The Greater Sacramento Area has a five-year projected annual population growth rate (beginning in 2021) higher than Portland, San Francisco, San Diego, San Jose, and Los Angeles, also higher than those cities in projected job growth.  Key focuses for the next three years are felt to be growth, sustainability, equity and competitiveness.  Check CityofRanchoCordova.org for updates on current and projected projects.

Powell revealed in an interview that he wanted to be an airline pilot when he was in high school, following in his dad’s footsteps.  However, he saw what the airlines were going through in the 90s and took the advice of his father who said, “I’ll support you, but this is a really tough racket.” 

Deputy city manager Micah Runner commented on the talks: “A lot of folks and a lot of cities are wondering what the future of office looks like,” Runner said. “We look forward to figuring out the best way to move forward.”

Rogers was more than satisfied with the way the event turned out.  “I thought we had a wide variety of topics that were covered that were all super-relevant,” Rogers said.  “This is what the Chamber should be doing for our business community, providing this kind of information to our businesses, to our members.” 

As for what will occur in the coming years, Rogers said she is not in the business of predicting, then proceeded to say, “I’m very optimistic. People are cautious, which means they’re looking at things through a lens of not being reactive but being proactive . . . I think that’s the way I would describe the next three years, it’s going to be proactive.”