Chamber Panel Predicts 2019 to be a Good Economic Year

(CHAMBER ECONOMIC FORECAST PANELISTS LEFT TO RIGHT: JEFF SPEER OF RE/MAX KEY ADVANTAGE REALTY, CITY ECONOMIC DEVELOPMENT DIRECTOR TODD HULL, AND MIDLAND STATES BANCORP CORPORATE TREASURER MICHAEL KARIBIAN)

An Effingham County Chamber of Commerce panel Friday predicts 2019 to be a good economic year.

The panel who shared at the Chamber's First Friday Luncheon for January included Midland States Bancorp Corporate Treasurer Michael Karibian, Re/Max Key Advantage Broker/Owner Jeff Speer, and Effingham City Economic Development Director Todd Hull.

Each of the panelists said the lower fuel prices have been a boon to the local economy. Speer reminded those present to be considerate to truckers in the area, saying they pay the taxes. He said it was no accident that truckers flocked to Effingham during the blizzard a few years back saying they knew rooms, food, fuel and other necessities would be found here.

Karibian said economic trends locally and globally indicate that the economy should continue to produce, although perhaps not at the same rate as 2018.

Hull said sales tax revenue for the county in recent quarters has been the highest ever. He said keys will be the low unemployment rate and the need for more workers, and more sites for economic development. Hull said an available workforce is dictating where companies locate.

The need for more workers is in part driven by where there are places to live. Hull said there are four local residential developments trying to address that need.

Speer compared and contrasted home sales and home prices in Effingham County and in Coles County. He noted that more homes were available in more reasonable price ranges in Effingham County last year, and also indicated that property taxes were higher in Coles County than for comparably priced homes in Effingham County.