Financial experts: Sacramento region to improve in 2013 | News
SACRAMENTO, CA - Financial analysts said better days are ahead in 2013 for the Sacramento region.
From across the Sacramento area, 14 financial analysts from Sacramento State unveiled their overall economic picture for the Sacramento Valley in this month's Sacramento Business Review. Experts said the ecomony is improving, despite losing hundreds jobs from the Campbell's Soup plant and Waste Connections moving their headquarters to Texas.
Analyst attribute the economic improvement to growth in Regional population.
"With population growth you always see the service sector industry expand," Sacramento State College of Business Dean Sanjay Varshney said. "Once again, you are seeing the people spending on restaurants and retail on buying new cars and buying new televisions."
According to the Sacramento Business Review, the retail industry is expected to see a three percent increase from last year.
The state's projected forecast for a budget surplus equals a 1 percent increase and manufacturing could slightly increase one percent compared to last year.
Experts said despite an uptick in the economy, there's still a long way to go.
"The bad news is, we are still, we are not at the statewide average and we are not at the nationwide average in terms of economic recovery," Varshney said.
Experts said the status of the Kings was not placed in the report, but if the team leaves, they said it doesn't bode well for the region's long term economic future.
"The major economic impact is going to be negative because we will struggle from a marketing stand point to make the case we are a major city and want to attract new high paying jobs and industries to the region," Varshney said.