The health, outlook of Brainerd's economy to be topic of keynote speech at BLAEDC's Annual Meeting

That's the message Joe Mahon will deliver Monday as the keynote speaker for the Brainerd Lakes Area Economic Development Corporation's 2018 Annual Meeting at Arrowwood Lodge at Brainerd Lakes in Baxter.

Mahon is a regional outreach director for the Federal Reserve Bank of Minneapolis. The deadline for reservations to attend is Thursday.

Mahon tracks several sectors of the economy throughout the Upper Midwest, from Montana to Michigan. He closely monitors agriculture, manufacturing, energy and mining but also follows sectors that drive specific economies, like Brainerd's. He says the Brainerd area enjoys a broad, diversified economy, which closely reflects the statewide economy. Interestingly, Minnesota is a microcosm of the national economy in terms of business sectors, employment and what's produced here. The biggest difference, he said, is the state has lower unemployment than at the national level.

"The labor market is healthier, but a lot tighter," he said, referring to the ratio of job openings to unemployed workers.

Employment will continue to be a hot topic through 2018, he said. At the center of that conversation is the workforce and where it will come from. Many local employers, especially those that rely heavily on seasonal workers in service industries like resorts and restaurants, are acutely aware of the congressional struggle taking place over an immigration policy. Seasonal workers from abroad make up a significant percentage of the summer workforce, giving that issue greater importance locally.

Mahon said another topic that gets constant attention is wages.

"We talk a lot about the labor market and stagnant wage growth," he said. "Wage growth is up, but on an annual basis, it's not as high as prior to the Great Recession."

In addition to sharing his views on the local economy's past and its outlook, Mahon said he will also encourage questions from the audience, which is an important part of his job—getting local insight from business and community leaders.

Before Mahon takes the podium, BLAEDC will have a number of other speakers as well, starting with BLAEDC President Janelle Riley, who will give opening remarks. She will be followed by BLAEDC Executive Director Sheila Haverkamp, who will provide an overview of the agency's 2017 successes, and BLAEDC's Tyler Glynn, who will provide an update on BLAEDC's Unified Fund, which continues to gain support and has already approved a local loan. Mike Angland will then discuss the River to Rail initiative, which is a local effort to build on the momentum of many projects that are improving downtown Brainerd.

The annual meeting is from 11:30 a.m. to 1:15 p.m., and includes a plated turkey dinner. The cost is $20.

Established in 1985, BLAEDC is a community-driven, nonprofit organization created to preserve and enhance the area's economic base by expanding business, building community and growing jobs in Crow Wing County.

For more information or to make reservations, contact Megan at megan@growbrainerdlakes.org.