Hundreds gather for annual economic summit in Palm Springs

The economy of the Coachella Valley took center stage Tuesday for the 12 th annual Greater Palm Springs Economic Summit put on by the Coachella Valley Economic Partnership. About 750 people attended the event that had turn out from local leaders, entrepreneurs, and non-profit organizations. The summit focused on business attraction strategies in the region.

The event featured a panel of business leaders that was moderated by anchor Brooke Beare with CBS Local 2. The guest speaker was an economics professor from Claremont McKenna College, Dr. Manfred Keil.

One of the panelists was Adnan Pamukcu, an entrepreneur who owned On Table Media, a media branding company. He said the Valley was an up and coming area and enjoyed having his business there.

“It’s a place to create,” he said. “It’s a place to enjoy while you’re creating the idea or services you have, and it’s a place a lot of entrepreneurs love to mingle around because of the lax resort lifestyle.”

Dr. Keil said the appealing weather in the area made it an attractive option for new investment but said the region could do a better job of getting more human capital, or more people who have the skills and education to meet the needs of the area. He said one option would be to expand higher education in the area such as having a local four-year research university.

“I think that will attract even more businesses particularly if you put this together with internships in hospitals, and in the hospitality industry,” he said. “There is no reason why the Coachella Valley could not become a second University of Nevada Las Vegas with a hotel school.”