Dr. Stephen Fuller had good news for members of the Mount Vernon-Lee Chamber of Commerce this week. Fuller is the Director of the Center for Regional Analysis at George Mason University and he came to their annual meeting to share his economic outlook for 2004.
Fuller said that things in this area are "pretty good." He said, "When things get bad, they don't get as bad here," he said, citing the federal government as the biggest protection to the downside.
"The government is more than just an employer," said Fuller. He elaborated by saying that not only do they spend $25 billion on payroll; they also spend $32 billion on procurement. Much of this money is spent in the metropolitan area, including Fairfax County. Even though there is a reported recession, government spending will continue to grow at 4-5 percent.
"When the federal government spends more money, the local economy benefits," said Fuller.
All of this was good news to the 50 or so members attending the meeting and dinner which was held at Mike's Italian Restaurant.
IT WAS ALSO election night and the five winners for the 2003-2005 term of office on the Board of Directors were announced. The winners were Jim Dunn, Knights of Columbus representative; Sherry Hsu, owner of Hunan Royale Restaurant; John Johnston, owner of Holly Wood & Vines; Cecilia Kuhn, CPA; and Marlene Miller, editor of the Mount Vernon Voice. Officers will be installed at the First Tuesday Business Lunch on Feb. 4, at Inova Mount Vernon Hospital. For more information, call 703-360-6925.