2008 Woodie Awards
Dayton's economy can be fixed
A vigorous campaign to further educational attainment is the
David Montei
Issue date: 1/24/07 Section: News
- Page 1 of 2 next >
Many cities in Ohio, including Dayton, are concerned with the role they will assume in a slowly recovering economy. Questions seem to outweigh optimism in a region that has seen many of its jobs lost to outsourcing and more efficient means of production.
In an effort to address such concerns and discuss the regional business prospects, an Economic Forecast Forum was presented by the Dayton Business Forum at Sinclair Community College on Thursday.
Sandy Pianalto, the president and CEO of the Federal Reserve Bank of Cleveland, discussed her role as policymaker as well as the outlook for the national and regional economy in the near future.
"Dayton is an important part of the fourth district of the Federal Reserve Bank," said Pianalto.
"We are hoping for a good economy without experiencing inflation and expect a new year to bring more economic growth," she added.
According to Pianalto, an aging population that is unable to fill production needs, manufacturing loss, a slump in the housing sector, and inflation are all factors that have played a role in the region's slow economic growth despite a recent boost to the national economy.
Over the past few years inflation has increased by one and a
half percent to two and a quarter percent.
When combined with the fact that Ohio has one of the lowest job creation rates in the U.S., as Pianalto pointed out, it isn't hard to see why Dayton is struggling to set itself free from its economic instability.
However, one way cities such as Dayton may experience success is by "investing in personnel and the greater workforce," according to Pianalto, who was followed by a panel of business experts from the Dayton area that served as further input during the business forum.
"Stronger rates of education and a higher degree of educational attainment are needed to reinforce the economy," said Pianalto.
Among those who believe that an "educated workforce" can jump start a stalling economy is Dr. Thomas Traynor, a panelist and member of the faculty at WSU's Economics Department.
In an effort to address such concerns and discuss the regional business prospects, an Economic Forecast Forum was presented by the Dayton Business Forum at Sinclair Community College on Thursday.
Sandy Pianalto, the president and CEO of the Federal Reserve Bank of Cleveland, discussed her role as policymaker as well as the outlook for the national and regional economy in the near future.
"Dayton is an important part of the fourth district of the Federal Reserve Bank," said Pianalto.
"We are hoping for a good economy without experiencing inflation and expect a new year to bring more economic growth," she added.
According to Pianalto, an aging population that is unable to fill production needs, manufacturing loss, a slump in the housing sector, and inflation are all factors that have played a role in the region's slow economic growth despite a recent boost to the national economy.
Over the past few years inflation has increased by one and a
half percent to two and a quarter percent.
When combined with the fact that Ohio has one of the lowest job creation rates in the U.S., as Pianalto pointed out, it isn't hard to see why Dayton is struggling to set itself free from its economic instability.
However, one way cities such as Dayton may experience success is by "investing in personnel and the greater workforce," according to Pianalto, who was followed by a panel of business experts from the Dayton area that served as further input during the business forum.
"Stronger rates of education and a higher degree of educational attainment are needed to reinforce the economy," said Pianalto.
Among those who believe that an "educated workforce" can jump start a stalling economy is Dr. Thomas Traynor, a panelist and member of the faculty at WSU's Economics Department.
