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Sacramento businesses are having a banner year -- and next year should offer more of the same, according to economists who gathered at the Hyatt Regency Sacramento on Wednesday for the Business Journal's annual Earlybird Economic Forecast.
The consensus view is that economic growth in the four-county region will continue just a notch below the current torrid pace.
New-home sales next year should rise slightly to almost 10,000. And the area should add 22,000 new jobs, a pace comparable to this year. But businesses will need a little less office and industrial space in the new year.
While many West Coast cities will begin to find they have too much commercial space, that won't be the case in the Sacramento region, with the possible exception of Roseville, said John French, vice chairman of Spieker Properties. He cautioned banks and developers not to overbuild.
Economists reviewing both the national and local landscapes agreed it would take an unexpected event to derail continued growth. They minimized the long-term impacts of Y2K fears, but agreed that sustained weakness in …