28th Annual Lower Shore Economic Forecast reveals “momentum” in greater Salisbury area

Newt Fowler, a business transactions attorney with Womble Carlyle LLP says, “I think the region is facing a really bright future.”

Fowler was the keynote speaker at the twenty-eighth annual Lower Shore Economic Forecast. He discussed his predictions for the 2016 fiscal year. 

Over the last calendar year, he says there’ve been lots of changes in the greater Salisbury area, creating a boost in morale. For example, there’s a new administration in local government.

Wicomico has a new county executive and Salisbury has a new mayor. Fowler believes a growth in collaborations has created much needed momentum that was absent from the 2014 fiscal year.   

David Ryan, the executive director of the Salisbury Wicomico Economic Development Corporation says, “We are on the road to recovery. It’s not as fast as anyone would like it to be, but it’s moving in a very positive direction.”

This is especially true in departments like tourism. Right now, they’re trending slightly over $50 million in terms of total economic impact.  They’re projecting almost a seven percent increase in their yearly economic activity.  Tourism had an impact of roughly $48 million in the 2015 fiscal year and are projecting more than $51 million in 2016. They’re citing those collaborations Fowler discussed as a major source of their growth.

Steve Miller, the director of the Wicomico County Tourism says, “We’ve formed a partnership called MAASA. It’s a partnership between Wicomico County, Worcester County, and Ocean City. That partnership has helped us leverage our assets between the beach and all the different facilities that we have together. We’re able to attract regional and national events.”  

That partnership is making a big splash in sports tourism for events like the Governor’s Challenge and the USSSA tournament. The department is also looking to pursue a liquor license for the convention center.  Overall, job opportunities across the board are on the uptick. However, officials say there’s no room to get comfortable.

Ryan goes on, “We know nothing lasts forever. We can’t rest on our laurels. We have to keep experimenting. We have to keep innovating. It’s a bright future ahead, I think.”