GAINESVILLE – “It’s complicated,” Frank Norton, Jr. proclaimed loudly. “When asked over the last year about the housing industry, the economy, consumer confidence or business in general our stock answer has been: ‘It’s complicated.’”
If it’s complicated for someone with Norton’s renowned perspicacity about the economy of northeast Georgia, then who can know what lies ahead?
Thursday evening roughly 275 people hoped to find that out as they entered the Gainesville Civic Center for the 31st annual “Norton Native Intelligence” economic forecast for our region. Norton has orchestrated them all and his track record of seeing economic trends before they become obvious has been stellar.
However this year’s presentation was looking at more unknowns and variables than usual and even Norton had to raise his hands and say, “It’s complicated.”
A new administration was taking over in Washington; a whirlwind of executive actions had been flowing steadily from the White House; the Affordable Care Act was on life support and what could possibly replace it; domestic oil and gas production was having it’s shackles removed; the Governor wants to wait to see what Washington does before he acts on several pending matters; et cetera, et cetera…so many questions.
Paradoxes have become commonplace: cautious-optimism, hesitant-excitement, or upbeat-pessimism are just a few of the idioms tossed about in financial circles, as Americans are anxious to leave the recent economic downturn yet not forget the valued lessons it taught.
“We think most of America is thinking short term uncertainty about the long term possibilities,” Norton suggested.
In a departure from the usual format of Norton being the lone speaker, this year he called on several of the experts that are a part of his team to give their analysis:
- Stephen Lovett and Tommy Howard spoke about the top trends happening in northeast Georgia and how they might affect the local economy in the future.
- Matt McCord and Will Cobb shared a review of historical patterns that have led to where we are today in hope of using the past to interpret the future.
Norton then tackled the matter of healthcare on his own, pointing out implicitly the dire straits facing many hospitals statewide before ominously warning that corrective action needed to be taken immediately lest many Georgians be without care providers in their counties.
Lastly, Norton spoke of the need to create additional affordable housing.
He asked the simple question, “Where are our children going to live? And I don’t want them in my basement.”
Norton said with all the efforts by governing agencies to attract business to our region too little thought has been given to where the new workers will live.
“You cannot have business expansion without housing; they are not mutually exclusive,” Norton said.
So what is the overall answer when looking at the economic future? “It’s complicated, but it’s time to think big,” was Norton’s unrestrained response.
“These are exciting times, but it’s time for us to think big. Look up, not just out, look up and let’s think big. It’s time for north Georgia to think big.”
