"The national recovery is underway, but Nevada's will be a few more years behind."
Not the happiest of economic news from UNR Economist Elliot Parker today, but a realistic forecast for the next 12 months.
"Let's face it," he added, "Nevada has hitched it's buggy to two horses, construction and the casino industry and both are barely breathing these days. We need a new economic engine to pull us and that will take a commitment from everyone in Carson City and it will take years to take effect."
Parker was speaking at the annual Economic Forecast Forum put on by City National Bank. More than 100 local business owners and investment brokers attended the summit. And they discussed the brighter economic horizon nationally and how it should help eventually pull Nevada from the doldrums.
"Sequestration will impact Nevada in a lot of ways," Parker told the group. "But it won't come on all at once, it will be gradual. The problem is the cuts will be hitting us here in Nevada when we are already facing economic problems and we rely on a lot of federal grants here."
"I work in public works and environmental projects for public works," said Linda Burdick of Burdick Excavating Company, Inc. "We really don't think it will impact us. We do a lot of work on grant money but I think the money will be there for environmental projects."
"We work on transportation projects," said Craig Lumis of Lumis and Associates, a civil engineering firm in town. "I think the transportation money will be there, but we do some military work and money for that may impact us. We'll have to wait and see."