Local Economy Could Be Worse?

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Memphis Regional Chamber of Commerce president John Moore predicted a somewhat positive local economic outlook today at a Center City Commission board meeting.

"I feel confident going into '09 that we will have at least as good of a year as we did in '08 in terms of job potential,' said Moore.

Moore said the chamber has 41 new business projects in the pipeline for 2009, and though he doesn't expect all to reach fruition next year, the projects will eventually create 11,000 jobs in the city.

'That's more in the pipeline that we had at this time last year,' said Moore.

While some existing local businesses, like FedEx and International Paper, are cutting jobs and salaries, Moore said Memphis' orthopedic industry -- Medtronic, Smith & Nephew, and Wright Medical -- hasn't really been affected by the recession.

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