Greater Elkhart Chamber of Commerce hosts luncheon with Fifth Third Bank to discuss the future of the local and national economy

SOUTH BEND, Ind. - The Greater Elkhart Chamber of Commerce partnered with Fifth- Third Bank Tuesday afternoon to discuss the economy, on both a national and local scale, and what that could mean for the city as well as local business GM owners in the next 24 months.

176 individuals across multiple industries came out to discuss inflation, interest rates and ultimately predictions for the economy and its impact on local industries.

The chief market strategist for Fifth- Third Bank Tom Jalics took the podium to discuss national trends.

While he believes a recession is unlikely, the unemployment rate at an all-time low with 10 million job openings, he says it’s not impossible, because of high interest rates, and labor shortages.

“There’s been a lot of talk of a recession we frankly don’t see it in the near term because the jobs market nationally and locally remains very, very strong,” said Jalics.

His presentation was followed by a panel, made up of local leaders including Mayor Rod Roberson, breaking down how a broader slowdown would impact the local economy while focusing on bringing more workers and more affordable housing options to Elkhart County.

Jalics also spoke on diversifying the manufacturing industry beyond RVs as more manufacturing jobs are expected to return from overseas, according to Jalics.

“The reality is we’re still providing 85% of the RVs out of this region, but we’re doing it at the same time as we’re growing other industries and opportunities in investment. So, our economy is actually growing as its diversifying and it’s not doing it at the harm of one industry. It’s collaborating and building in a way that it will be more resilient in the long run," said Levon Johnson who serves as President and CEO of the Greater Elkhart Chamber of Commerce.