HYANNIS – The Hyannis Chamber of Commerce held their 2020 Economic Forecast event Tuesday.
Attendees gathered at the Cape Codder Resort and Spa to hear an analysis of future business ventures and opportunities associated with the village and town.
One of the speakers was Barnstable Town Manager Mark Ells, who went into detail regarding the local government’s commitment to investing back into the community.
Specifically, he explained that Barnstable’s capital budget for 2020 is $34 million, while the operating budget is $210 million.
“We recognize that setting that base with infrastructure is a key part of keeping businesses here, and being able to attract future businesses,” Ells said.
Ells projects that the current course of investing back into Barnstable is sustainable for another decade.
However, as the town is able to supplement expenditures primarily through property taxes as opposed to state funds, he said the town needs to see $1 million in growth to sustain services.
The new year does come with other economic challenges going forward for Barnstable.
Ells said the town is already looking to address issues regarding water quality, wastewater, and regional transportation.
Regardless, Ells expressed his confidence in the town’s current trajectory.
“My economic forecast is positive for us,” he said.
“I think that we will manage when that changes.”
Joining Ells as speakers were CEO of Cape Cod Healthcare Mike Lauf and Director of Economic and Public Policy Research at the Donahue Institute Dr. Mark Melnik.
About Brendan Fitzpatrick
