SANTA MARIA, Calif. (KEYT) - Allan Hancock College hosted the first annual North County Economic Forecast at Boyd Concert Hall Friday morning.
This event is intended to give a clear picture of where we are and where we’re going in northern Santa Barbara and SLO counties.
The college partnered with the Santa Maria Valley Chamber of Commerce to provide an event that will return each year from now on.
The keynote speaker, founding member of Beacon Economics Dr. Christopher Thornberg, took city and county leaders from all over the Central Coast on a journey into the ways differing narratives can impact resulting statistics.
Dr. Thornberg says that, despite what many narratives are saying, the economy is "just fine."
He used statistics such as how many miles people have been driving, tourism levels, fluctuating immigration, and numbers attributed to industries such as sports and wine to illustrate this.
He says to be careful about narratives like employment statistics—in that example, he says to make sure labor supply and labor force is part of the equation, not just labor demand.
Worth noting is that while the northern cities in Santa Barbara County such as Santa Maria are considered in some circles to be the poor parts of the county, the agricultural industry in these towns is contributing some of the most positive numbers.
The presentation was followed by a lovely Q and A session that gave the event a valuable interactive aspect.
Dr. Thornberg says in terms of economic reporting, context is king, and that isolating certain statistics can blur the truth of what’s really occurring.
Many attendees said several of Dr. Thornberg's bullet points surprised them, but gave them a clearer picture of some of the north county’s most vital economic patterns.
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