Annual Southern Delmarva Economic Forecast highlights workforce development, tourism
SALISBURY, Md. – Economic development, building up the workforce, and infrastructure were just some of the big talking points for this year’s Southern Delmarva Economic Forecast.
Economists, organization leaders, and business owners made their way to Salisbury University Friday for the annual conference to hear predictions of what’s to come for the shore in 2024. The event was hosted by the Salisbury Area Chamber of Commerce, BEACON at Salisbury University, and The Franklin P. Perdue School of Business.
“The Eastern Shore of Maryland, Delaware, and Virginia have assets. They’re close to international airports and to big cities. The cost of living is less, the asset quality is higher, and education is positive and good,” Executive Director Salisbury Area Chamber of Commerce Bill Chambers said.
Chambers said the shore typically falls behind in terms of growth compared to other parts of the state, but that trend is turning around. “About progress, business growth, employment figures ticking up, workforce figures with our actually exceed the state numbers. So, I think our economy is healthy,” he said.
Dorchester County Economic Development Director Susan Banks highlighted that same growth thanks to the success infrastructure projects like the build out of broadband.
She said their focus now is finding more ways to support their local businesses. “The largest barriers are labor force, inflation, and funding which probably aren’t a surprise to anybody,” she said.
“We’re looking into what resources would alleviate some of these issues for our businesses.”
The Maryland unemployment rate now sits at 1.7% as of October which is the lowest it’s been in years.
Wor-Wic Community College’s Dean of Continuing Education and Workforce Development Ruth Baker told 47ABC that workers looking for opportunities locally will be able to find them. “Health care as you can well imagine, skilled trades, and the hospitality and food services industry. In terms of enrollment in our programs, we’re definitely seeing growth in those areas,” Baker said.
Chambers said that tourism is also a huge contributor for the lower shore. He added that the state is now taking heed to that and pushing more resources this way. “One thing led to another which is very positive. I don’t think the trend is going to end. Once you find a place as a tourist that you fall in love with, you tend to make that a regular stop on your vacation plan,” he said.
Chambers told 47ABC that despite the state’s unemployment rate being low and jobs being available, businesses still finding it challenging to hire qualified talent.
Both Maryland and Delaware officials also spoke about aggressive goals with addressing climate change.
