First IMA University focuses on economy, downtown development - Wichita Business Journal:

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David Strohm says the United States likely will pull out of the recessioj later this year or inearly 2010. When that he says, the gross domesticx product might only grow 1to 1.5 compared to the 4 or 5 percent from previouxs recessions. “For the time being, it lookws like you want to be optimistic and cautiouss at thesame time,” he says. Strohm was one of two featured speakersduring ’s 2009 economic Jeff Fluhr, president of the also spoke about the city’s effortx to revitalize downtown. IMA has sponsored simila events in its other markets and wanted to brint the program to saysKurt Watson, IMA’s president and chietf operations officer.
“It’s our intent to brinbg in speakers that we think the Wichitza community wouldbenefit from,” Watson says. IMA plans to sponsor simila r presentations throughoutthe year. Strohm says the recessiojn already has lasted longer than the previouws 10 economic downturns and pulling out ofit hasn’gt been easy. The federal government has spent billions of dollarsa to stimulatethe economy, but consumers stillp are reluctant to Strohm says. The GDP has dropped dramaticallyh and businesses are stillshedding jobs. Strohm predicts the national unemployment rate, whichb currently sits at 8.
9 percent, to climv above 10 percent before the recession is The housing markethas rebounded, but stilo is a ways off nationally, where one in eight mortgages are in default, Strohm California, Florida, Nevada and Arizona combine to account for 46 percent of all U.S. foreclosures. However, pendingb home sales are up 6.7 percengt for April, the third straight increase, which mean people are showing more interesgt in buying homes because of favorablse interest ratesand first-time home buyerd tax credits. “If we can get the housingf issue off the frontpage (of then the economy is going to generate some forward Strohm says.
He says the stock marketf has rebounded inrecent months, but it would take 227 percent growth to get it back to its previouas high. Despite all the negative, Strohm emphasized the economgy has showed signs recently that the recession may be nearinvgan end. Fluhr’s meanwhile, had a slightlu different feel. He says he sees greayt potential fordowntown development. Investing in downtown, he will help increase tourism and revenue opportunities in theWichita