Goldilocks Would Love Lubbock’s Economy

Chip Gilmour and Mike Edwards

Goldilocks would love Lubbock’s economy heading into 2018 because it’s just right

Goldilocks would love Lubbock’s economy.

Not too hot, not too cold – just right.

That’s how 2017 was with more expected for 2018.

“The economy in Lubbock is great,” said Chip Gilmour, vice president of marketing and business development for Lubbock National Bank, as he released December figures from the Lubbock Economic Index.

The Index grew 2 percent in 2017.

What economists call the Goldilocks Economy is a growth rate between 2-3 percent, as measured by GDP growth.

Among other encouraging numbers – the addition of 1,500 jobs and a near-record low unemployment rate of 2.7 percent.

“And 2018 will be better because of the tax situation. People will have more money to spend,” Gilmour predicted.

He was joined by Mike Edwards, co-owner of Pollard Ford, as they briefed local media on December and 2017 year-end figures.

“Lubbock is the place to be,” Edwards said. “The economy is great and continues to be great and people are seeing more money in paychecks and spending more money.”

Gilmour and Edwards discussed the following:

Lubbock National Bank Senior Vice President Chip Gilmour briefs local media each month on the report.

To see the full report, click here

To see the Lubbock Avalanche-Journal story, click here

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