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EconomicsurveypresentedBy Ed Watkrs Jr.News Post Staffc ftiilers vi.fr etl e n rk iii:-ws |hs t eonFREDERICK - Sovereign Bank presented an eeonomk: survey of Frederick County on Thursday that revealed both the strengths and challenges facing the area.Although many of us aro fairing challenges, we also have numerous opportunities that can benefit us individually, as well as the Frederick business community as a whole, said Jay S. Sidhu, chairman of Sovereign Bank, in a statement.It is important I hat wr all work together to overcome our obstacles and seize upon the opportunities before us Mr. Sidhu stated.The survey by tin; bank, presented in cooperation with the Frederick County Chamber or Commerce, shows that 09 percent of consumers locally consider their economic: situation about the same as last year, while 22 percent believe they are “slightly worse off than last year.Comparing threats to the economy, the bank survey indicated that the rising cost of energy was a problem both on the local and national levels. Other local threats included me rising cost of living in Frederick County, effectiveness of economic development, local politics, loss of jobs and sluggish tourism.Automobiles led the major purchases for 2005 in the survey at 22 percent, but is expected to fail to 14 percent in 20(16. Homo improvement — 21 percent in 2005, 20 percent anticipated in 2006 - - was second on the list, followed by major appliance purchases {20 percent, in 2005, falling to ll percent in 2000). Home purchases are expected to remain about the same (5 percent) from last year.Asked about the county’s top strengths and challenges, location of the region, qualify of life(SefiSOVEMGNB-8)
Newspaper Details
The Frederick News Post
Frederick, Maryland, US
Fri, Feb 24, 2006
Page 35
Full Page
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USA 17 May 2025
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