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Despite hike in interest rates, local leaders optimistic about Augusta’s 4th quarter economy

Despite the economic challenges this year has presented, James Clayton remains optimistic about the fourth quarter of 2022.

James Clayton

Clayton, an insurance agent with New York Life, attended the grand opening celebration of Ameris Bank’s new permanent branch located in Walton’s Corner at 3626 Walton Way Extension in Augusta Wednesday.

“You’re seeing new buildings and construction,” he said. “I expect our local economy to outperform the national market; we’re going to be OK.”

Ameris Regional President Remer Brinson, who has worked in banking in Augusta for 40 years, agrees. Brinson said the Federal Reserve raised interest rates again, this time by 0.75 percent, which will slow the economy, but it shouldn’t affect Augusta too much.

“We still see strong economic signals in Augusta,” he said.

Like Brinson, Market President Cameron Nixon doesn’t expect the rate hike to slow the CSRA’s economic growth, which has included several new businesses this year, particularly in downtown Augusta.

“The Augusta economy is really resilient; we tend to weather economic storms better than most,” he said. “Augusta is in a good position to thrive.”

The celebration also included a $15,000 check presentation from Ameris Bank to the Jud C. Hickey Center for Alzheimer’s Care Executive Director Jennifer Pennington, as well as a ribbon cutting hosted by the Augusta Metro Chamber of Commerce.

The bank is open Monday through Thursday from 9 a.m. to 4 p.m. and Friday from 9 a.m. to 5 p.m. For more information, visit banks.amerisbank.com/ga/augusta/3626-walton-way-ext.

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