Though the economy has been booming and consumer confidence hast hit an eighteen-year high, the chances of a recession in the next two years is increasing according to Chmura’s economists. As such, economic developers may be asking themselves a tough question: “How well can my region withstand another economic recession?”
Clients who subscribe to our Real-Time Intelligence (RTI) Jobs Posting Data module will notice the addition of a powerful new automation tool within the JobsEQ platform. We can now get up real-time updates about the hiring landscape in a target region – delivered directly to our email. This new feature is a great benefit to those who devote a lot of effort to tracking growing employers in local and peer regions to look for current and future labor trends.
The entire state of Virginia will benefit from Amazon’s decision to locate part of its second headquarters in Northern Virginia. Combining capital expenditures made by Amazon in 2030 when it reaches full capacity, along with the headquarters’ operations, the total economic impact is estimated to be $14.2 billion in Virginia, supporting 59,308 jobs, according to a new study by Chmura Economics & Analytics commissioned by the Virginia Chamber Foundation that looked into the economic impact of Amazon’s decision.
Amazon announced plans for a new corporate headquarters in September 2017, setting off a frenzy of bids (238 proposals) as well as speculation as to which city would win the competition. On November 13, 2018, it became official, Crystal City, Virginia—just south of downtown Washington D.C. and the location of Ronald Reagan Washington National Airport—would become home to a new headquarters for Amazon, splitting the overall planned expansion with New York City. Chmura Economics & Analytics was honored to perform the economic impact analysis for the Crystal City expansion on behalf of the Virginia Chamber Foundation. This impact analysis included a study of the job, spending, and tax effects projected to result from Amazon’s new headquarters in Northern Virginia.
International trade has captured many headlines in 2018; but in this blog, we’re talking about the bird not the country.