In my 16 years with The Evanston Chamber, I have had the good fortune to be living and working in a country that has experienced almost continuous economic growth since 1992. The only blip was in 2001, when for nine months, according to the National Bureau of Economic Research, the U.S. economy did slip into a defined recession.

While we may or may not be in a recession now, there is ample evidence the economy has slowed. By any of a number of measures including retail sales, housing starts, consumer confidence, or construction spending, there is a general belief among the many businesses I talk with that we are in for some uncertain times.

Now, I know, Chambers of Commerce are supposed to be boosterism organizations, trumpeting the sounds of prosperity and unfettered optimism. But The Evanston Chamber has never been blind to challenge. We try to tell it like it is, with facts and with whole truths.

So while I won’t make predictions about the U.S. economy -- that’s not our job -- I do have something to say about Evanston’s capacity to meet the economic challenges ahead. And the truth is, I like our chances. We are an economically resilient city, and here are four reasons why.

First, the engines of Evanston’s economy, Northwestern University, Evanston Northwestern Healthcare, and St. Francis Hospital continue to be strong institutions of learning, research, and clinical operations. This employment base is steady and in fact shows signs of growth with recent announcements of new facilities and buildings. And while there are moves in this country to reduce healthcare costs, and pressures on universities to spend more of their resources on financial aid, I expect all three institutions will remain key reasons why entrepreneurs want to come to Evanston to start knowledge-based companies.

Second, more and more Evanston businesses I meet are international in the scope of their activities. Evanston businesses have creatively diversified their suppliers and customers, and are simply not as dependent on the American economy for their sales and goods.

Third, our talent base is healthy. Evanston measures up well in terms of being a smart city. In fact, Evanston ranks 4th in the nation with the percentage of residents with graduate degrees. As workforce demographics change to favor younger populations, smart cities like ours will be better able to compete for companies needing highly skilled employees.

Finally, at a time when oil prices are now well over $100 per barrel, Evanston’s location near Chicago and served by extraordinary public transportation bodes well for the future. Residents in places like Sugar Grove, Plainfield, and Huntley, where transportation costs are now negating their affordable land, may soon find that when they fill their SUVs at $4 per gallon, exurban paradise is not all it was cracked up to be. Transit-oriented cities like Evanston are in a unique position as our nation adjusts to higher fuel costs.

But tonight I also want to state clearly that The Chamber is not hiding behind rose-colored glasses. We know these are likely to be tough times for many of our member companies and for many of their employees.
 
Therefore, The Chamber’s executive leadership, our board, and our staff, want you to know that we are here to be helpful, we are here to provide counsel, and we are here to give Evanston businesses the guidance and the support they need. Call on any of us and I guarantee, you will find a new idea that you can use, a resource that you didn’t know existed, a connection that matters, and a sympathetic ear willing to listen. 

Adapted from comments at the 88th annual meeting of the Chamber of Commerce, held Thursday, April 17.