A panel of economists was split Thursday afternoon over their optimism for Clark County in the coming years.
The four experts spoke at The Columbian’s Economic Forecast event, which drew hundreds of business and government leaders from around the region to the Hilton Vancouver Washington.
“Predictability is very important,” said Matthew Gardner, a prominent Seattle-based real estate economist with Gardner Economics, who gave the keynote presentation.
“Things are changing so remarkably rapidly right now,” Gardner said.
The panel said Clark County’s numbers are largely positive, especially compared with Portland and its other suburbs.
More people are moving to Clark County, and those moving in have higher incomes than those leaving — while the opposite is true in Multnomah County, Ore., said Mike Wilkerson, director of economic research at Portland-based ECOnorthwest.
“On a map, we are adjacent, but if you look at the economies, we couldn’t be more different,” Wilkerson said Thursday.
Going forward, the panel agreed housing affordability in Clark County will become a larger issue as less land is available for building and the population continues to increase.
But regional economic indicators, such as employment growth, are still trending upward, said Scott Bailey, economic consultant and former regional economist for the Washington State Employment Security Department.
“Just from looking at the data as it is now, there is a lot of reason to be optimistic,” said Emily Robertson, regional economist with the state agency.
Clark County is doing quite well compared with the state and surrounding counties, she added.
Robertson said the county has one of the state’s most diverse economies, which she called a strength.
While Wilkerson doesn’t think Clark County is anywhere near a recession, he said he doesn’t have a lot to be optimistic about with regard to federal policies.
Wilkerson said Portland having a poor economy will have impacts in Clark County, given the county’s reliance on migration from Oregon.
“The region needs to thrive,” he said.
He raised tariffs, housing affordability, interest rates and immigration as potential issues for the region.
Bailey said he thinks workforce cuts to the Bonneville Power Administration and U.S. Forest Service could have direct impacts on the county, and new federal policies will have an impact across the nation.
