Could a slowdown in the economy actually help Kitsap right now?

2022 is half over. Behind us sits a robust economy. In front, one that might be more tipid.

According to a recent Washington Post article, consumer spending makes up more than two-thirds of the US economy. Recent analyzes in the piece by both Barclays and Charles Schwab find that restaurant, travel-related and services spending is starting to weaken.

So at a recent economic development event I asked some Kitsap CEOs this related question: With a potentially slowing economy, what opportunity or challenge do you see in front of your business?

Port Madison Enterprises CEO Rion Ramirez talked about how, with the ongoing inflationary environment, he has concerned about decreased activity at the hospitality businesses of his firm, like Clearwater Casino, if patrons cut back. He also talked about the challenge facing nearly every enterprise in the US, from nonprofits to public companies to private firms like his: They need many more workers.

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