South Shore 2030

  • The Plan
  • Housing
    • Overview
    • The Business Case for Housing
    • Housing Endorsements
    • Housing Endorsement Form
    • Series: Housing on the South Shore
  • Infrastructure
    • Overview
    • Transportation
    • Water & Wastewater
  • News Center
    • The 2030 Blog
    • Virtual Events & Videos
    • Informational Reports
  • Our Region
    • About the South Shore
    • Demographics
    • Workforce Statistics
    • Essential Industries
    • Job Board
  • Partner With Us
    • Invest in Your Region
    • Why Invest
    • 2030 Funders
  • About Us
    • Why?
    • SSEDC Trustees
    • Our Team
    • Working Committees
    • Contact Us
  • Sister Sites
    • South Shore Chamber
    • Hello! South Shore
    • EAT South Shore
  • The Plan
  • Housing
    • Overview
    • The Business Case for Housing
    • Housing Endorsements
    • Housing Endorsement Form
    • Series: Housing on the South Shore
  • Infrastructure
    • Overview
    • Transportation
    • Water & Wastewater
  • News Center
    • The 2030 Blog
    • Virtual Events & Videos
    • Informational Reports
  • Our Region
    • About the South Shore
    • Demographics
    • Workforce Statistics
    • Essential Industries
    • Job Board
  • Partner With Us
    • Invest in Your Region
    • Why Invest
    • 2030 Funders
  • About Us
    • Why?
    • SSEDC Trustees
    • Our Team
    • Working Committees
    • Contact Us
  • Sister Sites
    • South Shore Chamber
    • Hello! South Shore
    • EAT South Shore

The 2030 Blog

Economic Forecast at South Shore Chamber

1/31/2020

0 Comments

 
Picture
Mr. Mark Melnick of The Donahue Institute spoke at the South Shore Chamber's Economic Outlook breakfast co-sponsored with Envision Bank.  We are pleased to share his presentation which included some nice comparisons on how the South Shore stacks up with the rest of the state on key economic factors.   It validated some of our work on South Shore 2030 to make the region economically stronger.  We were particularly impressed with three slides:

​

  1. Slide 9  shows we are 1/3  below (less competitive) the state’s concentrations of jobs in the high talent/high salaried Professional and Technical service industry mix but more concentrated than the state’s overall share in the financial services (by almost 70%) and retail  (by 30%) sectors. That illustrates one of the underlying challenge facing the South Shore.  Some of our largest job sectors are in contracting industries that are shedding jobs while at the same time we have a smaller share of some key sectors that are growing and have higher paying jobs. Our challenge becomes how do we expand and attract the growth sectors.  We believe we do it by growing the talent and workforce available on the South Shore.
  2. Slide 22 compares the percentage of family income going to housing. That has declined for homeowners since the recession but has stayed high for apartment owners.  The percentage of course depends on two factors:  household incomes and the cost of the housing. Overall we believe this supports our housing agenda. It suggests we are not building enough of the housing product (multi-family such as apartments) that young professionals are looking for.  That keeps apartment rents too high for many younger people. That in turn limits our ability to grow the workforce.   
  3. Finally, slide  27 nicely captures our transportation and economic challenge.  (This compares the middle section of the South Shore). We have 1/3 more residents commuting out of the area for jobs than workers coming in from other regions.  This reinforces information from our Original 2030 study that the entire South Shore has more people leaving the area for jobs than coming in for jobs.   And most of our traffic heads North to or through Boston.  While we continue to work on the Boston commute for our residents the better solution to the transportation problem is creating more jobs in the region so residents have better employment choices than driving to Boston.  

download presentation here
0 Comments



Leave a Reply.

    Archives

    March 2023
    September 2022
    August 2022
    April 2022
    January 2021
    October 2020
    September 2020
    March 2020
    January 2020
    December 2019
    July 2019
    June 2019
    May 2019
    March 2019
    February 2019
    January 2019
    October 2018
    June 2018
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    February 2016
    January 2016

    Categories

    All
    Banking
    Economic Development
    Editorial
    Education
    Hanover
    Hello South Shore
    Housing
    Infrastructure
    Norwell
    Plymouth
    Real Estate
    REDO
    Retail Development
    South Shore 2030
    South Shore Chamber
    The Landing
    Transportation
    Zoning

    RSS Feed

South Shore Economic Development Corporation
1050 Hingham Street, Rockland MA 02370
Phone: 781.421.3900 | info@southshorechamber.org | sitemap
Photo Disclaimer: Photos found on website may be subject to copyright. Permission to use images was provided by development teams for use on website. Other photos were taken by staff.
Picture