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Local economy to remain prosperous

Oct. 13, 2000

By LEE ANN ANDERSON

Reporter

Take comfort in knowing the forecast for the 'new economy' is optimistic.

'Looking at the past five years and projecting forward, the outlook for the Central Texas Economy is very favorable. As the 'new economy' appears to be ushering in a new era of prosperity, Waco will emerge as a growth center that will outshine the national average and will exceed all but the largest metropolitan centers in the state of Texas,' said Dr. Thomas M. Kelly, professor of economics and director of Baylor's Center for Business and Economic Research.

His executive summary was included in a booklet that was distributed at the annual Economic Forecast Conference.

The conference was held at the Waco Convention Center Thursday. The event, sponsored by the Hankamer School of Business and the Waco Chamber of Commerce, included six speakers who made predictions concerning the economy at the local, state and national levels. Comparisons to past facts and statistics were also integrated into the discussions.

Some economists also question whether the country is really in the midst of a 'new economy' or is simply experiencing a very strong economy.

'Whether or not a truly new economic paradigm has emerged in America is open to debate,' the founder and president of The Perryman Group, Dr. Ray Perryman, said in his short-term forecast for the United States and Texas.

'What is undeniable, however, is the presence of powerful, unprecedented economic growth with technology at its center,' Perryman said. 'The very best of the good news is that no end is in sight.'