Montrose Economic Update: September 2017

Sep 21, 2017 | News, Newsletter

Dave Robinson. 
Montrose Group.

American economic growth continues heading into the fourth quarter of 2017 but not at the pace hoped for. Key data points related to the current performance of the U.S. economy include the following:

  • Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis following a 1.2 percent increase in the first quarter;
  • Real gross domestic product (GDP) increased in 43 states and the District of Columbia in the first quarter of 2017, according to the U.S. Bureau of Economic Analysis. Real GDP by state growth in the first quarter ranged from 3.9 percent in Texas to -4.0 percent in Nebraska (see chart below).
  • In July, the Consumer Price Index for All Urban Consumers increased 0.1 percent seasonally adjusted; rising 1.7 percent over the last 12 months, not seasonally adjusted and the index for all items less food and energy rose 0.1 percent in July- up 1.7 percent over the year;

For the full article and additional economic indicators, click HERE.

Capitalizing on rural corporate site location opportunities

Rural communities are prime targets for companies considering a corporate site location project. Rural areas in the U.S. cover 97 % of the nation’s land area but contain 19.3 % of the population who are more likely to own a single family home, are older and less likely to hold a bachelor’s degree or be in poverty than their urban counters.

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AEP Names Wells Vice President, Sales, Economic and Business Development

American Electric Power (Nasdaq: AEP) has promoted Timothy J. Wells to vice president, Sales, Economic and Business Development, effective Nov. 2, 2020. Wells replaces Mark James who retired last month.

Wells, 55, will lead AEP’s efforts to attract new commercial and industrial customers to its service territory and help existing customers take advantage of AEP’s growing menu of business consultation services. AEP has unique expertise in the energy field and has become a trusted energy advisor to many of its larger customers. Wells will be responsible for leading growth in services that fall outside of the distribution and transmission of electricity, in addition to helping communities bring new jobs to their local economies.

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