The J. Beard Real Estate team attended the Economic Outlook Conference at The Woodlands Waterway Marriott Hotel & Convention Center February 8, 2019.
For more than 30 years, The Woodlands Area Chamber of Commerce has hosted the Economic Outlook Conference to provide valuable insight into the projected growth of the economy in Montgomery County and Texas. The J. Beard Real Estate team was there among nationally-recognized speakers, businesses, community leaders and corporate sponsors.
The theme for the 2019 event was “On the Path to Sustainable Growth.” Neal King summarizes his key takeaways of the event below:
- Gordy Bunch, Chairman on the The Woodlands Township Board of Directors, spoke on the current strong financial status of The Woodlands. The continuation of the Incorporation Planning Study. as well as several recent community amenities (including Swan Boats on the Waterway and Texas Tree Ventures adventure course at the Recreation Center at Rob Fleming Park) and potential for a cultural and performing arts center. Other area updates were provided by Brandon Creighton, Texas State Senator and U.S. Congressman Kevin Brady.
- Laura Lea Palmer, Vice President of Business Retention and Expansion for The Woodlands Area Economic Development Partnership. Gave an overview of The Woodland’s area’s job growth, development, and employment sector breakdown over the past 15 years in a visually striking “Then & Now” presentation.
- Jesse Thompson, Senior Business Economist with the Houston Branch of Federal Reserve Bank of Dallas. Spoke on 2018’s above average overall growth with slight contractions of those growth curves in the last quarter of the year. His initial outlook for 2019 is for continued growth albeit at a slower rate compared to last year. However, expectations are for growth to be at or slightly above recent trends. Cited reasons for a slightly restricted growth curve compared to 2018 included a potential of lower oil prices to turn a drag on the region if they persist, cooling international economies, and a tighter labor market.
- A Keynote Leadership Panel was moderated by Gil Staley, CEO of The Woodlands Area Economic Development Partnership. Panelists included Lonnel Coats, CEO of Lexicon Pharmaceuticals, Inc.; Paul Layne, President for the Central Region of The Howard Hughes Corporation; Sallie Rainer, President and CEO of Entergy Texas, Inc.; and Charles Stokes, President and CEO of Memorial Hermann Health System. Highlighted segments of their discussion included planning for sustainable growth and how to be a successful leader in a growing “Millennial” workforce.
- Keynote Speaker was John Hofmeister, Former President of Shell Oil Company and Founder and CEO of Citizens for Affordable Energy. He spoke of the need for investment and research into the emerging industry of “Carbon Tech”. Which will focus, not on the harder-to-realize elimination of fossil fuels all together, but rather on the capture, transformation, and elimination of harmful carbon emissions by way of either safely disposing of them or re-purposing those emissions into other useful products.
Pictured from left to right: Zach Armstrong, Neal King, Lindsey McKean, Sean Durkin & Julie Colwell.
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