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3. ECONOMIC DEVELOPMENT SUMMIT <br />COMMISSIONER BOB SOLARI <br />A. PRESENTATIONS, DISCUSSIONS, AND PUBLIC INPUT <br />Commissioner Solari welcomed everyone, and thanked the City of Sebastian for the use <br />of their facility and for helping with preparations for the Summit. <br />L INTRODUCTION <br />"The Problem" - Charlie Wilson <br />Charlie Wilson, President of Media Arts Group, outlined the current problems facing the <br />County and how long they would last. He reported that unemployment rates are up 9.6% - 9.7%, <br />compared to 5.8% at the end of 2007, with the highest being 10.1% in 2008. He reported that <br />historically, in our County, the highest unemployment rates are usually in August and <br />September, therefore it was safe to assume or expect that in August this year, the County's <br />unemployment rates could reach about 15%, a total of 5,500 people unemployed. <br />Mr Wilson, explaining that this has happened before, related that back in January 1990 <br />unemployment was at 5.1% and by August had soared to 16.1%, then crested at 18.5% by <br />August of 1992. He said double digit unemployment persisted in the community for five years, <br />until 1995, and if the same cycle were to happen in the County today, the County could not <br />expect significant recovery until 2012 or 2013, unless we do something, starting today. <br />Mr. Wilson provided a synopsis of the County's population, and its unemployment rate, <br />in comparison to other counties in the State, noting that this County is one of the highest <br />2 <br />February 5, 2009 <br />Economic Summit Workshop <br />BK 136 PG 72.2 <br />1 <br />