Join us on Friday, February 1st as we welcome back Dr. Anirban Basu of Sage Policy Group Inc. to host our 12th Annual Economic Forecast Luncheon. This is the 9th straight year he will discuss the current state of the economy and what to expect throughout 2019. Known as the economist with a sense of humor, Dr. Basu has twice been recognized as one of Maryland’s 50 most influential people. He has also been named one of the Baltimore region’s 20 most powerful business leaders. He serves as Chairman of the Maryland Economic Development Commission, teaches global strategy at Johns Hopkins University, and serves the Chief Economist function for several organizations around the country.
Last year, Dr. Basu discussed multiple local and global economic topics, beginning with the Dow/DuPont merger and how it would affect Delaware's economy. He explained how DowDuPont decided to split the company into 3 divisions: Agriculture, Materials Science, and Specialty Products and how they expected the moves to cut jobs and change its facility footprint to save $3.3B in annual costs, up from its previous estimate of $3B. DowDuPont announced that it would relocate their Specialty Products unit from Collegeville, PA to the Experimental Station in Wilmington, DE. The move would transfer around 150 employees who work in Dow Microbial Control, Dow Pharma, Dow Water Solutions, and Core Analytical/CCAS from PA to DE. FMC was slated to pick up a portion of the DuPont Stine-Haskell research complex in Newark and add jobs. DowDuPont also stated plans to headquarter its Agricultural division in Wilmington. The new location is projected to open June 2019. DuPont operations in DE had seen a loss of 1,700 jobs prior to the merger with Dow as the company cut the headcount in R&D and other areas.
Dr. Basu also touched on topics such as; US. Labor Force participation since the beginning of the millennium, New Castle County employment/unemployment rate, US. Savings Rate, and global debt.
He stated that according to the International Institute of Finance (IIF), global debt had reached an all-time high. At $215 trillion, global debt including household, government, and corporate represented 325% of global GDP. In 2017 the IMF (International Monetary Fund) warned of risks to the global economy: “sheer size of debt could set the stage for an unprecedented private deleveraging process that could thwart the fragile economic recovery”
To find out what Dr. Basu will discuss regarding the state of the economy in 2019 and beyond, click here to register. Be sure to do so soon as this event will sell out! Sponsorship opportunities are still available. For more information contact Jaimie Watts: email@example.com.