Traverse area economic forecast

The Record-Eagle has a report on the Traverse City Chamber of Commerce annual economic forecast breakfast the the business expo. Their forecast finds that despite Michigan’s statewide struggles and those of the housing sector, the outlook is pretty good for the Grand Traverse area.

The chamber’s 60-page economic forecast for 2008 emphasized a need to create business “clusters” that are both cooperative and competitive, specifically in the areas of renewable energy development and in freshwater research. The area is experiencing emerging clusters in agribusiness and health science sectors, chamber officials said.

The five-county region also will need to upgrade its research capabilities and area workforce skills to stay on top of new trends and technologies.

“We need to seek superior human capital,” said Matt McCauley of the Northwest Michigan Council of Governments. “We need to bring in the right people.”

Read Area economy holding its own in the Traverse City Record-Eagle and download a copy from tcchamber.org.

The photo is Rivers Edge by dtown, part of his set of Traverse City photos.