Economic Forecast 2011: Looking Up
If there's one thing to be said about 2010, it's that it was better than 2009. Our local and national economy came back from the brink over the last 12 months, but as we all turn the page on another year, there's still a tremendous amount of uncertainty facing businesses in 2011.
What will health-care costs do to the bottom line? Will companies begin spending and hiring new workers? What industries are poised for growth? What industries will continue to struggle? These are all questions we at the Worcester Business Journal considered in compiling this special year-end issue.
To get a pulse on the temperature of local businesses, we once again conducted a survey of our readers on their outlook for the year, the results of which are summarized within this publication.
Backing up that survey is a new addition to this publication called Economic Indicators. For this section, we interviewed five local executives from disparate industries to get their perspectives on the economy and prospects for 2011. These insights, coupled with the results from our reader survey, should give you a strong foundation to plan for 2011.
This special issue also includes industry-by-industry analysis on six sectors of the local economy - Manufacturing & Technology, Energy, Real Estate, Health Care, Education and Banking & Finance - and our own 11 predictions for 2011.
From everyone on staff at the Worcester Business Journal, we hope you find the 2011 Economic Forecast issue a useful tool as you plan for the New Year. Please let us know what you what you'd like to see us include in this publication in the future by sending an e-mail to editorial@wbjournal.com.
Table of Contents
Economic Outlook Survey
PROJECTIONS – Will 2011 be better than 2010?
11 For 2011
FORECASTING – Can the Worcester Business Journal editorial team predict the upcoming year?
Manufacturing & Technology
HIRING OUTLOOK – Will there be workers when the manufacturing industry starts to hire?
REMOTE CONTROL – The Bay State bets big on the video game industry.
Energy
GOING GREEN – The region’s largest employers push forward with renewable energy projects.
EXPECTATIONS – Expert opinions on what energy prices are expected to do in 2011.
Real Estate
COMPARTMENTALIZED – Unum, eClinicalWorks and BJ’s Wholesale Club share their plans for new headquarters.
INDEED – Will the effects of the foreclosure crisis still be felt next year?
Health Care
HIGH TECH – Local hospitals invest in technology to keep patients happy and profits up.
STEP TWO – Will 2011 be the year of health-care cost containment?
Education
CASUALTIES – 2011 is expected to be a difficult year for public school budgets, which will mean tough times for businesses that rely on schools for revenue.
MATTER OF DEGREES – What good is an MBA in 2011?
Banking & Finance
UNTETHERED – What the mobile craze means for local banks and credit unions.
BY DESIGN – The bank branch of the future looks more like a living room than a vault.
Economic Indicators
Local executives share their perspectives on 2011.
Arthur Barrett, Barrett Distribution
Steve Buchalter, Enterprise Cleaning
Christopher Crowley, Polar Beverages
Karl Sachs, Sachs Jewelers
Edward Wilson, Wilson Language Training
WBJ Web Partners
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