Horizons Economic Forecast Recap | Over 400 Business Leaders and Public Officials Lead Off the Year with Regional and National Economic Insights

The Tacoma-Pierce County Chamber (TPCC) held its annual Horizons Economic Forecast at the Greater Tacoma Convention Center in downtown Tacoma on Wednesday, January 29, 2025.

Rising with the sun were more than 400 people in attendance. The agenda was set for attendees to learn more about the 2025 economic projections nationally and for Pierce County. Attendees began the morning by networking during Coffee Connections sponsored by Commencement Bank; tehaleh; Virginia Mason Franciscan Health; and educational organizations: Bates Technical; Tacoma Community; Clover Park Technical; and Pierce College, before they were seated for breakfast. Formal programming kicked off with a literal bang via a performance from the talented youth of Lincoln High School Drumline.

Over a seated breakfast guests heard from a handful of speakers including Congresswoman Marilyn Strickland; Congresswoman Emily Randall; Port of Tacoma Commissioner Position #2 Dick Marzano; Pierce County Executive Ryan Mello; Neal Johnson, Ph.D. of Sound Resource Economics; and Keynote Speaker Angelo Kourkafas, CFA® Senior Strategist, Investment Strategy at Edward Jones. Following opening remarks and insights, Tom Layson, Managing Editor & Producer-Host of Northwest Now, KBTC Public Television, led a Q&A with Mr. Kourkafas and Dr. Johnson regarding pressing economic issues that face the region and nation.

The event featured emcees Andrea Reay, President and CEO of the Tacoma-Pierce County Chamber, and Kierra Phifer, Board Chair for the Chamber and Public Engagement Manager Northwest for DoorDash. David Schroedel, Executive Vice President of the Chamber gave a heartfelt tribute to Dr. Bruce Mann, a beloved Economics professor at the University of Puget Sound who passed in October 2024 and contributed over the past several decades to the community and Horizons as an expert and teacher.

Guests received a copy of the Pierce County Economic Index Report for 2025 at the event. This report is a pivotal tool for understanding the county's economic health and prospects. The report, authored by Dr. Johnson, highlights a mix of growth and challenges alongside trends in GDP, labor markets, housing, and retail sales, while forecasting moderate growth and ongoing challenges for key sectors in 2025.

“This PCEI Report gives our members the insights they need to navigate the year ahead with resilience while acknowledging the headwinds still facing Pierce County. While we’re seeing progress in personal income and job creation, challenges in housing affordability and retail spending underscore the lingering effects of high interest rates and inflation,” said Andrea Reay, President & CEO, TPCC. “We hold a cautiously optimistic outlook for Pierce County. From job creation to housing affordability, this report helps our community take informed steps toward building a stronger, more equitable economy. Our commitment is to ensure that businesses—big and small—have the tools to succeed.” ​

After the opening program concluded attendees were given the option to select one of three break-out panel discussions of their choosing:

In “The Road Ahead: Innovation, Inflation, and Workforce Transformation in Pierce County,” a dynamic panel uncovered the forces shaping Pierce County’s economy in 2025. It dove into key insights on how inflation, interest rates, and artificial intelligence are transforming the workforce and regional industries. The panel also explored the evolving roles of trade, immigration, and organized labor in driving economic growth, and attendees gained a deeper understanding of how housing, childcare, and workforce infrastructure impact local opportunities. The panel was moderated by Samanta Le, President and CEO of the Seattle Southside Chamber and featured speakers: 

• Katie Condit, Chief Executive Officer of Workforce Central; 

• Nathe Lawver, Secretary Treasurer with Pierce County Central Labor Council;  

• and Aaron Terrazas, Independent Economist, Labor and the Future of Work, and LinkedIn Top Voice.  ​

In “Foundations for Growth: Housing, Transit, and Economic Resilience in Pierce County” the panel examined how Pierce County’s economic future is at a crossroads with housing affordability, transit connectivity, and rising development costs that are reshaping how businesses attract talent, communities grow, and leaders plan for the challenges ahead. This panel brought together regional experts to discuss the forces driving these changes and what they mean for Pierce County’s business landscape. From zoning reforms and transit-oriented development to the economic ripple effects of housing shortages, this session explored how policy, design, and infrastructure intersect to influence the region’s growth trajectory. The panel was moderated by Debbie Cockrell, Tacoma News Tribune and featured speakers: 

• April Black, Executive Director of Tacoma Housing Authority;  

• Ben Ferguson, Managing Principal of Ferguson Architecture;  

• Scott Jones, Senior Vice President, Operations, at Brookfield Properties;  

• Ali Modarres, Ph.D., Assistant Chancellor for Community Partnerships at the University of Washington Tacoma;  

• Heidi Kihlman, Principal at BCRA;  

• and Ryan Wheaton, Chief Planning Officer of Pierce Transit. ​

Our third panel, “The Four Ps of Energy Transitions in Pierce County: Prices, Policy, Production and People” featured discussion on how the region can navigate a critical juncture in its energy future. Bringing together leaders from across the region, it explored how energy innovation, infrastructure investments, and policy shifts are reshaping our community. From the integration of renewable energy to addressing the challenges of electrification, the discussion illuminated the path forward for a more resilient, sustainable energy economy. The panel was moderated by Bill Dickens, Author and Former Senior Energy Economist at Tacoma Power and featured speakers:  

• Glenn Blackmon, Ph.D., Director, Energy Policy Office at Washinton State Department of Commerce, State Energy Office;  

• Chhandita Das, Ph.D., Economist with Puget Sound Energy; 

• Bett Lucas, Senior Vice President of Commercial, TransMontaigne Partners | Seaport Sound Terminal; 

• Chris Robinson, Power General Manager with Tacoma Public Utilities;  

• and  Andrew Troske, Vice President and Refinery Manager of U.S. Oil & Refining Co. | Par Pacific. ​

This event could not have been possible without the support of our Sponsors, our members, and the community as a whole. Thank you to our: 

• Title Sponsor | Port of Tacoma 

• National Economist Sponsor | Edward Jones 

• Speaker Sponsor | Financial Insights Wealth Management 

• Breakfast Sponsors | Amazon, Pierce County Economic Development, Showcase Media 

• Event Management Sponsor | MadCap Marketing 

• PCEI Report Sponsors | Cascade Print Media, Umpqua Bank 

• Lanyard Sponsor | Milgard School of Business  

• Coffee Connections Sponsors | Bates Technical College, Tacoma Community College, Clover Park Technical College, Pierce College, Commencement Bank, tehaleh, Virginia Mason Franciscan Health 

• Premier Sponsors | Banner Bank, City of Tacoma, Greater Tacoma Convention Center, KeyBank, Kitsap Bank, MultiCare, Pierce Transit, Puget Sound Energy, Sound Credit Union, Tacoma Public Utilities, Tote Maritime Alaska, University of Puget Sound, University of Washington-Tacoma, Washington State Fair Events Center, WorkForce Central 

• Supporting Sponsors | BNBuilders, Business Health Trust, Dickson Frohlich Phillips Burgess PLLC, Lightcurve, Par Pacific, USI 

• Media Sponsor | KBTC PBS 

• In-Kind Sponsor | Brown & Haley ​

If you have not already filled out our post event survey, please do so. You may find the survey available online here.

We are always looking to expand what we have to offer Pierce County as we strive to make the South Sound the most equitable, inclusive, and thriving place to do business in Washington State.

Thank you to everyone who spent their morning with us. We hope to see you at our next event soon!​