Before predicting how the national and regional economies might fare during a Trump presidency, Richard Voith, President and Principal of Econsult Solutions, wanted to set the record straight for Development Workshop members.
In a recent presentation to the Workshop, Dr. Voith laid out a generally positive overall picture for the economy – contrasting this fact with what politicians have been focusing on. He also explained how Trump policies – from changes in foreign policy stances to the potential rollback of environmental regulations – could reshape our economy in the coming years.
Richard Voith, Ph.D, CRE
Dr. Richard Voith is the President and Principal of Econsult Solutions, Inc. He is an economist whose contributions to economics span both the academic and popular press. Dr. Voith has overseen a wide variety of projects in the realm of real estate, transportation, labor markets and economic development, but just as importantly, he as has been involved in setting the strategic directions of organizations, large and small.
In particular, Dr. Voith is a well-known expert in real estate economics, transportation, and applied microeconomics. He is currently a Faculty Fellow at the University of Pennsylvania Institute for Urban Research and frequently teaches Cost Benefit Analysis at the Wharton School’s Business and Public Policy Department, as well as Urban Real Estate Economics at the Wharton School’s Real Estate Department. Prior to joining Econsult, Dr. Voith held the position of Economic Advisor at the Federal Reserve Bank of Philadelphia, where his responsibilities included analysis of Philadelphia’s regional economy as well as the national economy.
In addition to his consulting and academic research, Dr. Voith has worked frequently in the public policy arena. In 2006, Dr. Voith was appointed by Pennsylvania Governor Rendell to the newly created Transportation Funding and Reform Commission that was charged with recommending appropriate levels of funding for transit systems, roads and bridges throughout the Commonwealth. Dr. Voith also served on the Board of Directors of the Southeastern Pennsylvania Transportation Authority (1992-2000), serving as Vice Chairman of SEPTA for 3 years, 1996-1998.During his tenure, he participated in the procurement of a new fleet of subway cars, the hiring of a new management team, development of financing mechanisms for an ambitious capital plan, as well as efforts to dramatically streamline the authority, reducing costs while expanding service throughout the Greater Philadelphia region.
Over the last 15 years, Dr. Voith has served on several National Academy of Science Foundation Advisory Panels, addressing topics such as the relationship among highways, transit investment and land use, valuing the costs and benefits of transit investments, and the relationships between land use and public health. He has been a guest speaker at numerous forums probing issues central to the patterns of metropolitan development, including those sponsored by the Lincoln Land Institute, the Brookings Institution, the Urban Land Institute, and the Department of Housing and Urban Development. Until 2007, Dr. Voith served on the editorial board of Real Estate Economics. Dr. Voith serves as Chair of the Delaware Valley Chapter of the Counselors of Real Estate, a prestigious national association of real estate advisors.