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16th annual CVEP Summit looks at local economy’s future

You can watch the 16th annual CVEP Summit below as local leaders share what the valley's economy looks like this year and how it can shape up in the near future.

"The theme of this year's Summit is Becoming Essential. As we continue to take actions to elevate and transform our economy, leveraging existing businesses to expand the base of jobs and tax revenues in the Coachella Valley is vital," said Joe Wallace, CEO and Chief Innovation Officer of CVEP. "Most importantly, we must work together as a region, towards a shared vision of a prosperous future."

Kome Ajise, the new executive director of the Southern California Association of Governments, is the Keynote Speakers.

SCAG is the country's largest metropolitan planning organization and represents Imperial, Los Angeles, Orange, Riverside, San Bernardino, and Venturas counties, 191 cities and more than 19 million residents.

Ajise is also the former the chief deputy director of Caltrans.

Dr. Manfred Keil, Professor of Economics at Claremont McKenna College, delivered the annual Economic Report and Forecast. Keil is well regarded as an expert in comparative economics with extensive knowledge of the Inland Empire and the Coachella Valley. His presentation promises to be timely and topical for business and community leaders.

Here are a number of bullet points on what Dr. Keil covered in his report:

  • What will be the shape of the recovery in 2021?
  • How does the national picture differ from the Coachella Valley?
  • How bad was the downturn for the Coachella Valley compared to the region, state, and nation?
  • What role does the share of Leisure and Hospitality have in shaping the depth of the recession? The recovery?
  • What role does the share of other affected "face-to-face" sectors (Health and Education, Retail Sales, Other Services, Professional and Business Services) play?
  • What is the role of automation in the post-coronavirus recession?
  • What is the housing market going to do?

For more information on CVEP visit https://cvep.com/summit/.

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Jesus Reyes

Timothy Kiley

Timothy Kiley is Assistant News Director for News Channel 3 starting in 2002 as Photojournalist.

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