County Sees Slowing Growth Ahead

    “We have some uncertain times ahead.”
   Lake County’s Executive Director for Economic Development Mary Ellen Stern on Tuesday indicated Lake County may see less of an impact from an expected national slowing of the economy, but it won’t be completely spared.
   Stern, during a presentation on Tuesday to the Lake County Commission, stated that while it is impossible to know what the future holds, Lake County's economy is in a position to weather economic uncertainty with less pain than other parts of the country, or even Florida.
   Stern presented a variety of projections that show a slowing national economy, and Lake County isn’t expected to be immune. However, Lake County’s growth is expected to slow in the coming year, while unemployment will also see additional pressure.
   “It is a pause - to wait and see,” said county commissioner Sean Parks, describing data he has seen that indicate Lake County residents are holding onto cash early in the new year, while business loan data indicates owners are taking a more cautious approach to new debt.
   “Deposits continue to grow,” Parks said. “Businesses, not as much based on previous years.”
   Lake County is still projected to grow at a rate over 10%, a number that puts it ahead of state averages, but below last year.