Wednesday, January 26, 2005

Sonoma County economy "trending upward"

Sonoma County may see some economic increases in 2005, or so says a new study out from Sonoma State University, the Press Democrat (Santa Rosa, Ca) reports .
(article link)

"SSU's current forecast concludes employment by the end of the year could return to its highest level since 2001. At 4.8 percent growth, or about 9,000 new jobs, it would be the strongest growth since 1997, when the number of new jobs created soared 8,300, or 5.1 percent. The forecast uses such data as help wanted ads, income growth and defaults to reach its conclusions.
"It looks like '05 is going to be better than '04, but it could be a year or two before the county's economic growth begins to surpass the U.S.," Cochrane said.Outpacing the nation "is a position that Sonoma County got very used to being in," he said, "so it becomes quite obvious when it trails behind."

With that being said, and an estimated 4~6 month lag time for the wine industry to realize it's effect, the begining of 2006 could see a bit stronger wine industry in Sonoma County.

I would predict that Napa Valley would see the benefits of a stronger economy slightly earlier, as more consumers recognize that area.


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