Ingrams September 2023

i250 ECONOMIC REPORT

Transportation and the streetcar extension, continuing Downtown revitalization with sports venues, advances in cancer research and life sciences and the World Cup in 2026 all represent key opportunities to reposition Kansas City on an international stage, regional executives say.

Tim Cowden, who has a front-row seat on growth opportunities as head of the Kansas City Area Development Council, said the chances for recession increase proportionally with each Fed increase in interest rates. He pointed to existing soft patches, but also some areas of strength. “Sectors of the economy have al ready felt it—housing, tech, and some consumer goods,” Cowden said. “Oth ers are continuing at a good clip—EV, FDI/reshoring manufacturing, which the Bipartisan Infrastructure bill in spired. If we do go into a recession, I agree with the consensus among economists I have read that it will be a shallow one with a strong and quick bounce back. These are the economic times that KC typically fares better than other regions—particularly on the coasts.” Seizing the Moment Instead of speculating on the odds of a recession in the near future, Erin Stucky of Blue KC says, “I’d rather fo cus on how the Kansas City community

comes together in trying times to en sure that everyone in our community is cared for. I have no doubt that what ever the next few years bring, we will face those challenges collectively with compassion and integrity.” DeAngela Burns-Wallace sees things much the same way in her new role leading the Kauffman Foundation: “I’m not

of economic downturns and provide equitable access and opportunity for everyone.” And opportunity, said HCA Mid west Health’s Keith Zimmerman, abo- unds. “Our city has great attributes with area schools and districts receiving national awards, an affordable hous-

“I am cautiously optimistic, but we must remem ber that the cost of taming inflation is to slow down economic activity by raising interest rates.”

— KEVIN BARTH , CEO COMMERCE BANK OF KANSAS CITY

a gambler, and I certainly won’t place odds on something as crucial to our well-being as economic stability,” she said. “So much of our work discusses how the systems we currently have in place only work for some. We need to have confidence that there will be guardrails to curtail the effects

ing market, access to high-quality health care, and a nationally recog nized business climate,” Zimmer0 man said. “The time is ideal for companies to relocate to or start up in Kansas City. And a couple more Kansas City Chiefs Super Bowls would not hurt.”

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I ngr am ’ s

Kansas City’s Business Media

September 2023