Sunday, December 10, 2006

Income, jobs expected to increase for Solano County

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Income, jobs expected to increase for Solano County
By Amanda Janis/Business Editor
Article Launched:12/09/2006 07:22:09 AM PST
Economic growth in the Vallejo-Fairfield metropolitan area will be among the strongest in the region, says a recently released study.

According to a forecast from Stockton's University of the Pacific Eberhardt School of Business - which studied California and 12 of its metropolitan areas - job growth in Solano will increase annually an average of 1.6 percent through 2009, and personal income will increase an average of 6.2 percent per year in the same period.

'In terms of employment growth, it's one of the top areas (of the 12 metro areas surveyed),' said Sean Snaith, director of the business forecasting center and associate professor of business economics at Eberhardt School of Business. 'In terms of growth in personal income it's the top area,' he said, noting that Solano ranks ahead of 'heavy-hitters' like San Francisco, Sacramento and San Jose.

Its unemployment rate, projected to hover below 5 percent for the next few years is 'remarkably low,' he said, one of the lowest of all metro areas surveyed.

Solano is doing better than other areas, in part, Snaith said, because sectors experiencing growth statewide, such as trade, education and health"

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