Economy discussed MCEDA/MCBL Symposium

The Madison County Economic Development Authority (MCEDA) and the Madison County Business League (MCBL) presented The Economic Symposium 2010: Economic Perspectives for Madison County during a breakfast earlier this month hosted by Nissan North America at their Training Center in Canton.

Lt. Gov. Phil Bryant, who had toured the state in response to the recent tornado and oil spill crisis, gave the crowd an update prior to his introduction of guest speaker Dr. Phil Pepper, Mississippi state economist.

Pepper said Madison has seen a 71.5 percent growth in population since 1990, which he attributed to its excellent school systems. He stressed that quality of life and standard of education are the strongest drivers for economic development. He also noted that Madison’s personal income index has grown faster than the state or nation average from 1990 to present. He believes growth in the U.S. and state will be below average, but Madison County will buck this trend.

Dr. Marty Wiseman, director of the John C. Stennis Institute of Government at Mississippi State University, spoke on the global economy’s impact on Madison County. He reinforced the importance of education in the county. Wiseman predicted that the population of Madison County would increase by 35,330 people from 2009 to 2025.

Keynote speaker Dr. Dave Altig, senior vice president and director of research at the Federal Reserve Bank of Atlanta, presented a national economic forecast for 2010. Consumer spending has had an uptick but this is not expected to continue, business investment in equipment will be healthy but will not expand at the double-digit pace some are forecasting, employment growth will pick up substantially in 2011 and productivity growth will fall off substantially, he predicted.

New MCBL board members announced

Newly elected Madison County Business League board of directors members were recently announced. They include John Almond, Allen & Hassall; Sarah Lofton, Lofton Advertising; Billy Martin; Scott Parrish, Bancorp South; and Davis Richards III, Madison River Oaks Hospital.

Business Briefs- Madison County Herald