March 2, 2017
HARRISBURG - With the Commonwealth’s economy predicted to remain in a slow-growth pattern going into the next fiscal year, leaders from Pennsylvania’s business and banking communities gathered today at the 5th Annual Economic Forecast Summit to gain insight about upcoming economic trends at the state and national level. This annual event – which is presented by the PA Chamber Education Foundation and the Pennsylvania Bankers Association – brings together some of the nation’s most respected economic forecasters and leadership experts.
“The Commonwealth is facing several financial challenges – not the least of which is an estimated $3 billion structural deficit,” Pennsylvania Chamber President and CEO Gene Barr said. “As lawmakers work to address this revenue shortfall in upcoming budget negotiations, the threat of new and increased taxes weighs heavily on Pennsylvania’s employers. Today’s program has given job creators key insight into the impact of the state’s fiscal situation on the private sector and allowed them to keep up with economic trends, which in turn helps them plan for the future and remain competitive.”
“The Economic Forecast Summit serves as an economic crystal ball to Pennsylvania’s job creators so they can best prepare for the future,” Pennsylvania Bankers Association President and CEO Duncan Campbell said. “Despite a challenging economic environment and significant regulatory burdens, banks continue to be the engines that drive our local economies. Today’s discussions, especially involving innovation and crisis management, will help afford banks and business leaders the opportunity to focus on what they do best: support and strengthen our local communities.”
The program featured two keynote speakers. In the morning, Retired U.S. Navy Commander Kirk Lippold gave a presentation on leadership and crisis management that reflected on his service in the U.S. Navy – most notably as commander of the USS Cole. The afternoon’s keynote address was given by Michelle Stacy, the former president of Green Mountain’s Keurig Division and corporate leader on growth, innovation and culture, who discussed strategies that transforms and inspires innovation.
The Summit also included an economic forecast at both the state and federal level. Pennsylvania Independent Fiscal Office Director Matt Knittel discussed the financial challenges facing the Commonwealth as negotiations get underway on the 2017-18 state budget. The U.S. Chamber of Commerce’s Chief Economist, Dr. J.D. Foster, provided the national economic prospective.
RKL served as the event’s Exclusive Diamond Sponsor for the 5th consecutive year.
The Pennsylvania Chamber of Business and Industry Educational Foundation is a registered 501(c)(3) organization created to fund timely and insightful research and educational programs that will positively impact Pennsylvania's economic future and enhance the quality of life for all Pennsylvanians.