The future of theCoachella Valley economy wasthe topic at a conference Tuesdayin Indian Wells.
At the Miramonte Resort and Spa,Claremont McKenna College and UCLAhosted the Coachella Valley Economic Forecast Conference.
Experts talked about how it could be another two or threeyears before unemployment rates in the Inland Empire dip below double-digit rates.
Since economists often gauge future economic activity in an area on the amount of new homes being built, it’s clear the Coachella Valley needs to improve in that area.
“The only place you can really go is up,” said Marc Weidenmier, an economics professor at Claremont McKenna.”Imean in 2005, 2006, you’re looking at 4,000-5,000units a year. (In 2012), you’re down to 500a year. So, Ithink it will slowly improve, but the level is so slow that it’s going to take a very long time before we get anywhere to where we were in the middle of 2004, 2005, 2006.”
Weidenmier added, since the Coachella Valleyis a popular place for people to retire, job growth will come from educating and preparing people to work in the health care industry.