psrc macroeconomic forecast

Highlights from Rajeev Dhawan's Economic Forecast for Atlanta and Georgia . The Transportation Policy Board got a sneak peak at the PSRC's 2015 Regional Macroeconomic Forecast, due to be published later this month. Employment forecasts by the Puget Sound Regional Council (PSRC) by economic sector for 2025 and 2035 are presented in Figure ED1. For more information, please contact Robin Mayhew at rmayhew@psrc.org or 206-464-7537. Seattle-Bellevue-Everett | 1991-2023. PSRC Financial Planning Overview Transportation 2040 - Overview •Aligns with, and implements, VISION 2040 and the Regional Economic Strategy •Responds to the 2040 growth forecasts for person and freight travel demand •Addresses climate change, air quality and health of Puget Sound •Reflects investments that promote mobility for • 13% of forecast 2040 total UGA population (630,000+) • 40% of forecast 2040 total regional jobs Center Share of Change (2000 - 2040) • Regional Economic Interdependence -Every jurisdiction in Pierce . Actual. Due to changes in census tract boundaries, the 2010 total . Download the Macroeconomic Forecast. Economic and demographic information were developed for the study areas based on zip code level data, obtained through the IMPLAN regional modeling system, and forecast analysis zone (FAZ) data, developed by the Puget Sound Regional Council (PSRC). 2 AARP (2018) Making Room for a Changing America, U.S. Census Bureau Annual Social and Economic Supplements 1950 and 1970, 2015 U.S. Census ACS, PSRC Draft 2050 Forecast of People and Jobs. 59,200 62,300 49,300 50,100 74,200 2014 to 2015 2015 to 2016 2016 to 2017 2017 to 2018 2018 to 2019 Source: ESD, WA Employment Estimates (seasonally adjusted) July 2019 •74k wage & salary jobs were added to the region last year (3.5% increase) It is developed by PSRC with help and review by technical staff from state and local government. Puget Sound Regional Council (PSRC). Ports, Maritime Sites, Military Installations & Industrial Lands. The forecast for the Puget Sound region is generated based on ESD projections for King County, Snohomish County, Pierce County, and Kitsap County, as well as PSRC's macroeconomic forecast. The central Puget Sound region's variety of deep-water Pacific seaports and close connection to Asia positions the region as an important seaport for trade. • 2050 forecast -3.4 mil (+55%) 4 . Roger Tutterow, Ph.D. Click here to see the 2021 Economic Forecast Presentation. Matching the census tracts where the Filipino population resides (per 2010 census), with the PSRC's corresponding analysis areas reveals the communities that currently have higher Source: PSRC, 2018 Regional Macroeconomic Forecast. Visit psrc.org and submit the online comment form 3. Thus, the forecast can reasonably be expected 2013b. The methodology, forecasts and allocations are set forth in Appendix D of 2006 Kitsap County's Comprehensive Plan. This suggests a very strong likelihood of further cuts in funding beyond 2014/15 of a similar magnitude to the current Spending Review. The Puget Sound Regional Council is seeking public comment on a draft regional economic strategy for King, Kitsap, Pierce and Snohomish counties. Looking to the future, the Puget Sound Economic Forecaster anticipates a flat economy in 2003, with negligible employment growth (0.1%) and weak income growth. "The Puget Sound Regional Council (PSRC) is an association of cities, towns, counties, ports, and state agencies that serves as a forum for developing policies and making decisions about regional growth and transportation issues in the four-county central Puget Data and Research. In re: Certification Review of Puget Sound Regional Council, December 16, 2005, Page 2 P.O. Our small area projections (Exploring Our Future: King County Forecasts to 2045, 2020) were made by age, gender, race and ethnicity using statistical demography methodologies and are compared to existing OFM and PSRC population projection estimates for larger geographic levels. Seattle Comprehensive Plan Update Draft Puget Sound Regional Council 2 Who we are • 4 counties, 82 cities and towns • >4 million people, >2 million jobs What we do • Growth, economic, transportation planning • Competitive distribution of federal transportation funds • Regional data and forecasts • Forum for regional issues Two forecasting tools, the Puget Sound Regional Council (PSRC) and Pierce County EMME/2 Travel Demand Forecast Models (2001), were used in developing the 2030 traffic forecasts. Write a letter to PSRC 4. PSRC Travel Demand Model: Cross-Sound Demand A key input to WSF's travel demand ridership projection is the PSRC model forecast of cross-Sound ferry ridership growth. Source: PSRC, 2018 Regional Macroeconomic Forecast. 1 Regional Economic Model Data Flow Ray Fair Model of the U.S. Economy Regional Economic and . Sources: Bureau of Labor Statistics; Regional Macroeconomic Forecast, Puget Sound Regional Council; Washington State Employment Security Department, 2001-2023 16 Thousands New Jobs 80 60 40 20 0 I I I -20 -16.1 -13.9 -40 -46.2 -60 -80 -100 9.4 ESD Forecast CAI Forecast Actua I ii 44.6 43.7 I 17.9 I iill 42.1 41.8 49.3 53.7 I -18.1 6-6 Accessory Dwelling Units Final EIS October 2018 4.4 PARKING AND TRANSPORTATION City of Seattle (Seattle) 2015. Investments. • 2023 - the Blue Line to the Redmond Technology Center, 10 new stations The Puget Sound Economic Model provides the forecast of socioeconomic variables used in local comprehensive plans, including population, employment, housing units, and personal income. Both models utilize the traditional four step modeling process: trip generation, trip distribution, mode split, and traffic assignment. For example, PSRC's forecast includes a high number of military personnel in forecasts because of the Puget Sound Region's many military facilities. 7. Economic Forecast model . Updates to the forecasts are reviewed as part of the document/project development and adoption by the PSRC Technical and Policy Committees. Historical. The latest UK macroeconomic forecasts paint a gloomy position for the years ahead - delayed growth, lower growth, uncertain growth. The DEIS is available online at psrc.org and will be delivered to libraries throughout the region. Roger Tutterow is Professor of Economics at Kennesaw State University where he holds the Henssler Financial Endowed Chair. 2000 - 2009: Trends Support Forecasts 399,000 + PSRC AND REGIONAL PLANNING 8 . Puget Sound Regional Council What we do Planning: growth, economy, transportation Federal transportation funds ($260 million/year) Regional data and forecasts Forum for regional issues Our members Cities, Counties, Ports, Transit State Agencies and Tribal Governments Executve Dave Somers Executive Bruce Dammeier His analysis . Adopt Regional Economic Strategy. 5.8 million people 4.1 million people 2.2 . Public opinion survey. PSRC's mission is to ensure a thriving central Puget Sound now and into the future through planning for regional transportation, growth management and economic development. Land Use Targets • Policy-directed forecast dataset Matthew Kitchen is a Senior Policy Analyst with over 20 years of experience in transportation planning analysis and economic development. A modest upturn is forecast for 2004, when employment is expected to increase by 1.5%, due largely to the expected improvement in the national economy. Forecasted compound annual growth rates are matched between the industry clusters defined for The Puget Sound Regional Council is an association of cities, towns, counties, ports, and state agencies in the area encompassing King, Pierce, Snohomis h and Kitsap counties, with the charge of coordinating growth management, economic and transportation efforts in the Puget Sound region. Total new net housing, comparison of PSMP housing units and PSRC permits (2011-2016). Puget Sound Regional Council (PSRC) Regional Airport System Plan (2001) . Source: Puget Sound Regional Council, Regional Macroeconomic Forecast, April 2017. AN ASSESSMENT OF REAL ESTATE AND ECONOMIC CONDITIONS IN SOUTH DOWNTOWN NEIGHBORHOODS FOR LIVABLE SOUTH DOWNTOWN PLANNING Table of Contents Introduction 1 1. The Macroeconomic Forecast is an input to PSRC's land use and travel forecasting, and provides the growth assumptions used in our regional growth strategy. Matthew brings the unique combination of experience with a major, innovative MPO (Puget Sound Regional Council) and as leader of ECONorthwest's transportation economics practice. Source: PSRC, 2018 Regional Macroeconomic Forecast • A strong economy and a healthy environment • Preserve waters, farms, recreation and resource lands • Urban Growth Area and centers strategy • Local actions to achieve regional VISION VISION 2040. What We Do. Regional data and forecasts. Proposed changes to the framework include development of an Equity Pilot Program and strengthening of criteria for equity and safety. Puget Sound Trends has population for the region's cities and counties. PSRC also supports the work of the region's Economic Development District, governed by a board composed of public and private members that meets bi-monthly to coordinate regional economic development planning. Local authority medium-term financial plans need to be updated now to reflect The Macroeconomic Forecast is an input to PSRC's land use and travel forecasting, and provides the growth assumptions used in our regional growth strategy. In the first stage of ridership forecasting analysis, only changes in Puget Sound Regional Council (PSRC) land February 26, 2020 Regional Data Profile shows population, as well as births, deaths, and migration. The public comment period will run through Nov. 10 . PSRC cross-checked these ratios for our region and found that the region is closer to average than would be suggested by certain data sources. ii LIST OF TABLES Table 1 Comparison of PSRC's two development forecast models (from PSRC).8 Table 2. A set of tools developed for PSRC staff to pull, process and visualize Census Data for geographies in the Central Puget Sound Region. 2040 update is based on a 2012 regional economic forecast which reflects the effects of the economic downturn and recovery. Population is forecast to reach 5 million by 2040 (up from 3.8 million today - the same growth as the previous economic forecast). These tools expand the capabilities to develop and analyze various alternatives, improve accuracy in the forecasts, and provide efficiencies in the analytical process. Budget and Funding Sources The Puget Sound Regional Council operates under a two-year (biennial) budget and work program. Use Forecasts was a revised Regional Economic Forecast. This report is intended to update the Aviation Activity Forecasts developed by the Airport . In April 2008, the Puget Sound Regional Council's General Assembly adopted VISION 2040. Manchin is seen here at the Capitol in Washington. Pierce Co. Jobs Inflow/Outflow. In other words, even after Nearly 30 new miles of light rail in the next 4.5 years • 2021 - Northgate, Roosevelt and the U District. 5 . The board will also discuss the Regional Housing Strategy and may choose to approve the strategy or extend the discussion to a future . Sources: WA Employment Security Department, Employment Projections June 2018; Puget Sound Regional Council, Regional Macroecoic Forecast, nom Forum for regional issues. The previous PSRC regional forecast of popula-tion and employment was released in 2006. The aforementioned analysis and work PSRC Forecasts The PSRC conducts economic and population forecasting in the Central Puget Sound region. Puget Sound Regional Council 2006 Small Area Forecasts *Forecast Analysis Zones follow census tract boundaries that include areas outside the city. In one poignant scene from Disney's Finding Nemo, dozens of fish are trapped in a fisherman's . 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