FUTURE OF ECOOMY: MILLENNIUM WILL FUEL CONTINUED GROWTH

Will there be a new bridge over the Mississippi River between Cape Girardeau, Mo., and East Cape, Ill.?

Will a par-three golf course become a reality in downtown Cape Girardeau?

"Yes" and "No," depending on who you talk to.

"These are two items I can make a prediction on," says Lowell Peterson, president of the Mercantile Bank here. Peterson says he thinks the bridge will be built but he doesn't see much future for a downtown golf course.

But a "man on the street" has a different opinion.

"The state has to find an experienced' bridge builder first," said the downtown resident, who requested anonymity. "The golf course may be here long before the bridge."

Meanwhile, Peterson expects to see economic growth continue in Cape Girardeau and the United States.

First quarter economic upturns that occurred in 1998 and repeated in 1999 are expected to continue to the new century.

"We have good reason to be optimistic about economic growth in the United States, and in the immediate Cape Girardeau area," said John Mehner, president and CEO of the Cape Girardeau Chamber of Commerce. "The economy appears to be hitting on all cylinders, and with the strong employment growth, I think things will be good over the next couple of years."

Economists at the University of Missouri's Business and Public Administration Research Center forecast the state's economy in the new millennium will have continued prosperity for at least the next three years.

Although their forecasts don't always exceed more recent economic gains, UM economist feel good about their predictions of comfortable increases in personal income, employment and business through 2002.

The economic study says Missourians' personal-income increases should reach at least 4.8 percent in 2000, dipping below this year's 5.5 percent gain. The increases in wages should exceed this year's mark and rise to 5.1 percent next year. Personal-income growth will slow to 4.7 percent in 2001 and 4.6 percent in 2002. Growth in wages will mirror personal income estimates, dropping to 4.7 percent in 2001 and 4.6 percent in 2002.

During the same period, employment growth is targeted at about 0.6 percent a year.

The need for additional workers in the Midwest has remained at high levels for more than three years, says Peggy Gates, of Manpower Inc., a national temporary employment agency with offices in Southeast Missouri, including Cape Girardeau.

"More than 30 percent of the area's businesses are expected to add personnel during the first quarter of 2000," said Gates. "And, more than 60 percent of business will retain their current levels of employment."

Manufacturers of both durable and non-durable goods and services express the strongest demand for workers, said Gates.

Labor markets are tight everywhere, agreed Charles B. Henderson of the Federal reserve Bank of St. Louis. Henderson prepares the bank's "Beige Book" every eight weeks to give a "snapshot" of how the economy is doing. "Manufacturing activity is rising in most districts, creating more needs for employees.

"Workers are especially in high demand in Boston, Atlanta, Cleveland, St. Louis and Kansas City," he said.

Donna Domian, a stock broker for Edward Jones Investments in Cape Girardeau, feels that 2000 could be good year for the stock market, "especially the first part of the year," she said.

"I think we'll see some strong markets," she has. "Over the past year, the market has been steep but not deep." Explaining, Domian said that some stocks haven't kept pace with other stocks.

"The market could be volatile," she said. "And investors should be well diversified.'

Doug Watson, president of the Bank of Missouri, Cape Girardeau branch, agreed that the stock market could remain good.

"We may see a couple of up-ticks in interest not large, maybe a quarter percent each time but I think the stock market will bump 13,000" he said.

The stock market has 107 months of continual increases, more than double the previous record of 52 months.

"We're in uncharted waters now," he said. "If history repeats we could be in for an adjustment.