CGCEASR Issues Report on Regional Industrial Diversity
Brunswick, GA – The south Georgia coast has an interesting development dilemma, according to Dr. Don Mathews, Director of the Coastal Georgia Center for Economic Analysis and Student Research. “The region has successfully exploited the competitive advantages of coastal sun and fun, developing strong segments in the leisure and hospitality industry as well as retail trade. But those industries are among the lowest paying, which depresses the region’s average private sector earnings,” the economics professor explained. “That is one reason for the region to strive for greater industrial diversity.”
The other, according to Mathews, is that diversification softens the impact of shocks to a key industry and helps regional economies better weather recessionary trends.
Over 42% of private sector workers in the coastal region encompassing Brantley, Camden, Charlton, Glynn, McIntosh and Wayne counties in Georgia work in retail trade and the leisure and hospitality industry, according to the January 2013 report authored by Mathews and published by the College’s School of Business and Public Affairs.
The full report is available online at the College of Coastal Georgia website: http://www.ccga.edu/Academics/SchoolBPA/files/IndustrialDiversityInSEGA.pdf
|Release Date: 1/11/2013|
Source: College of Coastal Georgia