Summit starts with dash of hope

BOULDER – A local economist is beginning to feel optimistic about the economy, the state’s director of economic development believes Boulder will lead the state out of the recession, and a college professor is challenging people to put on their thinking caps when it comes to planning sustainable communities.

Economist Richard Wobbekind, Don Elliman and professor William Shutkin on Monday kicked off the 2009 Boulder Economic Summit, presented by the Boulder Economic Council at the Glenn Miller Ballroom at the University of Colorado.

Wobbekind, director of CU’s Business Research Division, told a breakfast crowd of about 300 people that he doesn’t expect to see job growth until 2010, but, “We’ve been looking for the bleeding to slow down, and we’ve now reached the point of slower job losses.”

He also pointed to a slight uptick in consumer confidence as a positive sign, and there are indications that the housing market is bottoming out. Wobbekind said the speed and success of an economic recovery hinge on the banking system, warning that it still is not in great shape.

He also said stimulus money is good for Colorado, but accumulated debt is the cloud on the horizon for the next five to 10 years.

Elliman, director of the Colorado Office of Economic Development and International Trade, said when jobs reappear they will be new jobs consisting of new tasks requiring new skills. He said funding for higher education is the state’s No. 1 priority and close behind is the need to invest in the state’s transportation infrastructure. “Those are the two things that companies look at when they consider relocation,” he said.

He said the state’s focus must shift to competitive grant money. “There are plenty of opportunities, and Boulder and Colorado are well-positioned to get a share of it.”

“We need to pursue grants for education, health information technology, broadband and energy,” Elliman said.

He said there are about 140 funding streams available for private companies, universities and states, but they will come with strings attached: requiring complex reporting and measurable results.

Elliman believes Boulder is in a great position to buck past trends. “Contrary to history that Boulder is the last to feel a recession and the last to recover, Boulder, I’m convinced, will lead the state out of the recession this time,” he said. “CU is a critical engine for that, and the area has a strong high-tech work force.”

Shutkin, a professor at the Leeds School of Business at CU, challenged the audience to begin thinking about what the Boulder community could look like with a larger population in 2050 in terms of the land, the economy, its people and land use.

“We are going to need to ratchet down carbon emissions and look closely at the issue of density,” he said. Shutkin suggested looking at how Tijuana, Mexico, has been developed as a possible model. “There model has the wealthiest living right next door to the poorest,” he said. While Boulder has had some big successes in sustainability in terms of having bike paths, open space, pedestrian malls and government programs on climate change, Shutkin pointed out that only 8 percent of the family housing stock in Boulder is considered affordable.”

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