Thank you Jen Clarke with Independence Title for the invite to the Business Innovation Summit + National Forecast Update held at the Long Center. John E. Silva , PH.D., Managing Director and Chief Economist with Wells Fargo the guest speaker, focused on Business Innovation in the context of the new administration.
John stated there are 5 benchmarks for good decision making:
* Inflation
* Growth
* Profit
* Interest rates
* The Dollar
The main message for all of us as a business person is we need to be open and prepared for different approaches out of Washington. In the past years 2.1% has been the growth rate in the US. This has become the norm and expected. However people want something different and want more growth 3-4%.
Increases in Productivity and the Labor force need to increase. Inflation is at 0% on goods (grocery items etc.) but services (healthy, tuition to college etc.) are up! It looks like 2-3 hikes in the interest rates may occur in 2017.
I enjoyed hearing about the broader look at the overall US economy and then how it applies to Austin. There is no question 2017 will to be different than 2016 and there will be change/volatility coming out of Washington. His advice to Austin is “Don’t think small!” We can’t be lulled into compliancy…our population is exploding. It’s important to understand and know where the prosperity is coming from, take advantage of our assets in Austin to become the best we can become and enjoy it. We need to take the time to continue to generate innovation and change on a larger scale.
Texas is a healthy market with no sign of a recession, unemployment is very low home prices have increased by 7%. Austin is an innovative/creative community and one of our greatest assets is our booming Health Sector and Health Technology.
Greg Hartman, Chief of External & Academic Affairs Seton Healthcare Family acted as moderator for the Innovation Panelists: Guarav Chand, Senior VO, Global Solutions Marketing at Dell (a very charismatic speaker), Amy Holloway, President of Avalanche Consulting (full of wonderful ideas) and Mellie Price, Executive Director of Technology Innovation at Dell Medical School (very well-versed speaker). They all believe our industries need to connect the dots and work together to be successful. We need more of what we have now; open minded developers, graphic designers, tech etc. Our technology will continue to improve and continue to compete globally on all platforms with tech strongly tied to health services. I agree with their assessment in order to continue to be a thriving city with a strong economy and infrastructure we must make those connections with surrounding towns; San Marcus, Georgetown, Round Rock, etc. We need to share marketing messages and big ideas. Accessing these regional assets into the innovation zone is a must to maximize our opportunities! Many believe Austin “thinks big” but we need to expand our horizons. Our motto should be “Don’t think small!!”
As always, Austin real estate and business events are brought to you as a courtesy by Dorie Dillard of Coldwell Banker United; your NW Austin Real Estate Consultant.
P.S. If you are reading this and have a home to sell in NW Austin I would be happy to help you. I bring high tech touch to home sales and market your home to millions of customers across the internet and right here in Austin. Reach out to me for an insightful conversation about the marketability of your home at 512-346-1799 or dillard@reloaustin.com. I offer you hands-on Professional guidance for all your real estate needs.
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       Dorie Dillard is the most frequently hired REALTOR® in the Canyon Creek Subdivision. “YOUR PERFECT PARTNER”
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