News Summary
Savannah State University’s College of Business Administration will hold its inaugural Mid-Year Economic Outlook event featuring a Federal Reserve Bank official. The event aims to connect business, community leaders, and policymakers to discuss economic insights and forecasts, which indicate that the Savannah area is expected to outperform the Georgia state and national economies by 2025, driven by a booming manufacturing sector. Additionally, Savannah State has appointed Samantha Hutchinson as Vice President for Business and Finance, focusing on financial sustainability for the university.
Savannah, GA – Savannah State University’s College of Business Administration is set to host its first annual Mid-Year Economic Outlook on Tuesday at 2 p.m. This inaugural event will feature a high-ranking official from the Federal Reserve Bank of Atlanta, marking a significant milestone for the university, recognized as Georgia’s first public Historically Black College and University (HBCU).
The Mid-Year Economic Outlook aims to bring together business leaders, community leaders, policymakers, students, and residents from the greater Savannah area, enhancing regional access to vital economic insights while strengthening connections between the Federal Reserve System and Coastal Georgia. Attendance for the event is free, but participants are required to RSVP in advance.
Economic forecasts for the Savannah metro area, presented during the event, indicate that it is expected to outperform both the Georgia state economy and the national economy by 2025. This positive outlook is attributed largely to the robust manufacturing sector, which has experienced significant growth over the last two years, particularly due to developments at Gulfstream and the Hyundai Bryan County Metaplant. In fact, manufacturing in Savannah has grown by 25%, adding approximately 4,600 jobs and resulting in around $300 million in wages since 2022, with total compensation, including benefits, estimated at around $400 million.
Dr. Michael Toma, an economist from Georgia Southern University, highlighted that the growth in Savannah’s manufacturing sector is unique compared to other U.S. metro areas, largely due to the area’s focus on automotive manufacturing as Hyundai and its suppliers ramp up production. This manufacturing growth is expected to eventually shift further toward the automotive sector.
Amid these positive developments, Dean Benjamin C. Ayers from the University of Georgia projected a 2.4% growth rate for Georgia’s state economy, which is a decline from previous rates, while the U.S. economy is anticipated to grow at a rate of 1.6%, a decline from last year’s 2.5% growth. Despite these slowdowns, the odds of a recession have decreased from one in three to 25%, indicating a more stable economic outlook.
Georgia has maintained its reputation as the best state for business, with various indicators suggesting sustained economic growth through 2025. The Mid-Year Economic Outlook event thus serves as a platform for discussing current economic trends and challenges, contributing to a more informed community.
In a related development for the university, Samantha Hutchinson has been appointed as Vice President for Business and Finance, effective July 1, 2025. Hutchinson brings over 19 years of experience in higher education finance and has held various roles across different sectors. Her appointment is part of Savannah State’s broader strategy to strengthen its fiscal foundation and ensure long-term sustainability. Hutchinson holds a Bachelor’s degree in Accounting and an MBA in Finance, alongside several professional certifications.
The first annual Mid-Year Economic Outlook at Savannah State University presents a unique opportunity to engage with influential leaders in the economic sector while providing essential insights into the region’s economic future. As attendees prepare for the event, the focus will remain on fostering dialogue and building connections that will benefit both the university and the community at large.
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Additional Resources
- WTOC: Savannah State to Hold 1st Mid-Year Economic Outlook
- Google Search: Savannah State University
- Savannah Now: Savannah Economy Bolstered by Hyundai
- Google Scholar: Savannah economy
- Savannah Tribune: Samantha Hutchinson Named VP of Business and Finance at SSU
- Encyclopedia Britannica: HBCU
- WJCL: Georgia to Outperform US Economy
- Google News: Georgia economy
- Savannah Now: SSU Partners with City on Economic Development Internship
- Google Search: Georgia Southern University
Author: STAFF HERE SAVANNAH WRITER
SAVANNAH STAFF WRITER The SAVANNAH STAFF WRITER represents the experienced team at HERESavannah.com, your go-to source for actionable local news and information in Savannah, Chatham County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Savannah Music Festival, St. Patrick's Day Parade, and Savannah Jazz Festival. Our coverage extends to key organizations like the Savannah Area Chamber of Commerce and United Way of the Coastal Empire, plus leading businesses in aerospace, education, and logistics that power the local economy such as Gulfstream Aerospace, Savannah College of Art and Design, and Colonial Group. As part of the broader HERE network, including HEREAtlanta.com and HEREAugusta.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
