The New England technology community has a unique advantage over most sectors of the U.S.: whatever this recession holds in store almost certainly won’t be a match for what the last one dished out. It’s worth keeping that in mind as a defense against the kind of overreaction that can lead to self-inflicted damage in the near term, and stop us from forging ahead when the national economy eventually revives.
True, everyone agrees (and the prophecy must therefore self-fulfill) that we are heading for the worst recession in decades. But it is also true that local developers refrained from wildly overbuilding, and many local industries (e.g., healthcare, defense and education) are less vulnerable than those that drive the economies of other regions. This is not Detroit or Ft. Myers, nor will it be.
PUBLICATION: Mass High Tech
AUTHOR: Andrew Updegrove