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Economist Projects Bright Future For Philly, Camden With 1 Big 'If'

CHERRY HILL, N.J.(CBS) - A local economist suggests brighter things ahead in our region, if leaders just follow current trends and not get in the way.

Bucks County-based economist Joel Naroff appeared at the quarterly Rutgers-Camden Business Outlook forum. While things will improve modestly on the national level, he suggests Philadelphia and Camden are poised for the kind of growth not seen around here in 50 years.

"The kinds of changes that are occurring really are playing toward the strengths of the region," he says, "and if we play the game right and we do the right things to encourage that kind of growth, we are going to see it."

But that's going to require both the public and private sector to work together while, in effect, staying out of each other's way.

"We need a level of government and private sector involvement so that the private sector can do what it's going to do, but the public sector doesn't get in the way," Naroff said. "Really doesn't have political pressures that could cause problems for economic development."

After all, both cities are changing. Baby boomers and millennials are moving into town along with more technology and international trade.

The challenge is to make those changes work long term for everybody.

Naroff runs his own economic advisory firm and his weekly commentaries can be heard on Saturdays on KYW Newsradio.

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