Economist feels positive SWFL vibes

Anthony Chan, the chief economist for J.P. Morgan's Chase Wealth Management, travels to Florida from New York City at least eight times a year to visit family in Tampa and clients all over the state.

Chan, 56, has been traveling the Florida circuit talking to owners of small and medium-sized businesses for 19 years, so he has a good read on the local mood.

On a visit to Fort Myers recently, Chan says business owners appeared much more confident than they did just 18 months ago. “People are making plans for the future,” he says. “I'm feeling that people are believing the good news.” Two years ago, by contrast, they were worried about survival.
“The difference is night and day,” Chan says. “Two years ago, the impression was that Florida would lag the nation and suffer.”

Business owners frequently ask Chan what sign they should look for to grow their business. “Look at job creation, because that's going to be the source of your demand,” he tells them.

Chan credits Florida Gov. Rick Scott for promoting the state's low income tax and pro-business climate for recent job gains. “He has a reputation around the United States” as a job recruiter, Chan says. “Your governor has done enormously positive things for Florida.”

Florida's recovery has been fueled by the rebound in the housing market, and Chan is not worried about another real estate bubble or inflation despite the recent housing price increases. “It's a healthy recovery,” Chan says.

Still, some business owners remain skeptical of the economic recovery. “Is this recovery real? I say it's as real as it gets,” Chan says.