Marin County’s economic recovery is under way slowly with some sectors improving but employment lagging, according to the Spring Economic Bulletin released tonight by the Marin Economic Forum.
“We are starting to see commercial vacancies fall, some job growth and some residential real estate rebound,” said Dr. Rob Eyler, interim chief executive officer of the forum and the author of the report.
However, he said, “You are not seeing an immense growth in the numbers of employed people, and you need job creation to generate more activity in real estate.”
He said the recovery is tentative and tenuous.
“If we don’t have a job-full recovery it will be short-lived,” he said.
One sector Dr. Eyler said could provide some economic growth is biotech.
“There is a budding biotech sector in Marin County building on BioMarin’s foundation. That type of business -- the commercialization of science, and finding scientific solutions to socio-economic and socio-political problems is where the recovery will be,” he said.
“I personally think that is the case if you start looking at oil and global warming and ocean issues, if it is commercialized and engaged it can help a lot of these issues.”
The first economic bulletin was published in the fall of last year, and, said Dr. Eyler, not a lot has changed.
“We are trying to change it,” said Dr. Eyler, referring to the slow pace of economic development.
The Marin Economic Forum is a public-private partnership that works to enhance Marin’s economic vitality, with a focus on targeted industries, as the key to achieving local civic, environmental and social goals. The next bulletin will be out in October.
For more information and to see the report, visit www.marineconomicforum.com.