The economic slowdown from the COVID-19 pandemic initially raised concerns within states that general revenue collections would be lower than anticipated and, as a result, create shortfalls in maintaining a balanced budget. Although revenue collections from certain sectors of the economy, such as hospitality and tourism, were lower, overall revenue shortfalls from the pandemic did […]
Remote work has become the norm for many employees since the beginning of the COVID-19 pandemic, with no indication that full-time office attendance will return anytime soon – if ever again. The ongoing labor shortage compels companies to adapt their work-from-home policies to recruit and retain top talent. In a recent NAIOP webinar, experts from […]
What can we learn from the past to better understand the possibilities of the future? Global economist Dambisa Moyo, Ph.D., told attendees at NAIOP’s I.CON East: The Industrial Conference this week in Jersey City, New Jersey, that there are several geopolitical trends impacting the world’s economy that may seem “unprecedented” but have actually occurred earlier […]
“What’s happening in the economy overall is complex,” said Christopher Thornberg, Ph.D., founding partner of Beacon Economics and keynote speaker at NAIOP’s I.CON West: The Industrial Conference this week in Long Beach, California. “Fourth quarter 2021 GDP [gross domestic product] was 6.9% and February unemployment was 3.8%.” Those numbers look good, he said, but tell […]
We’ve all noticed the change — at the supermarket, gas pumps, and nearly everywhere else. Whether it was the cost of your Christmas tree or your New Year’s Eve champagne, prices are significantly higher today than they were just one year ago. In fact, the Consumer Price Index has climbed 6.8% in just the last […]
Real estate developers and owners provide the commercial and residential space for individuals to live, work and play. State and local governments can play an important role in supporting this through incentives and other measures that ensure development projects financially “pencil” and are economically sustainable over the long term. Tax Increment Financing (TIF) districts are […]
Commercial real estate professionals always seek to determine where markets stand now and what to expect for the future. That future is particularly uncertain today as we see the continued impacts of the COVID-19 pandemic. JLL Chief Economist Ryan Severino shared his economic analysis in a keynote address at NAIOP’s I.CON West this week in […]
The federal government has provided additional support for state and local governments in response to the COVID-19 pandemic. President Joe Biden signed the American Rescue Plan Act (ARP) into law on March 11, which established the Coronavirus State and Local Fiscal Recovery Funds. The new federal funds provide $350 billion to support state, local, territorial, […]
