About
Georgia Gov. Sonny Perdue in January announced the appointment of Kenneth J. Heaghney as the state’s new fiscal economist. Reporting to the Governor’s Office and the Office of Planning and Budget, Heaghney is based in the Fiscal Research Center at AYSPS, where he was named research professor of economics.
“We think this is a great match,” says Professor Dave Sjoquist, the Dan E. Sweat Distinguished Chair in Educational and Community Policy and director of the Fiscal Research Center and Domestic Programs. “The close association between the FRC and the state economist has the potential to enhance the efficiency of state fiscal planning.” Sjoquist worked closely with the governor and the OPB in updating the requirements of the position and matching it to Andrew Young School resources.
The state economist is broadly responsible for tracking the economic performance of Georgia. Heaghney will prepare the revenue estimates for the annual state budget. He also monitors and analyzes state and national economic trends, projects revenue figures and advises Gov. Perdue on Georgia’s financial condition. He says that with these duties, access to the expertise and resources of the Fiscal Research Center is essential to helping him monitor the state’s financial and economic conditions.
Sjoquist agrees. “The FRC houses nearly a dozen Ph.D. economists who are recognized worldwide for their work on fiscal issues, as well as three very good econometricians. This expertise, a major resource for the state economist, can be critical to building and estimating forecasting models,” he says. Additionally, the FRC provides technical and research assistance and other support.
“This partnership is an effective way to leverage key state resources that are pointed toward fiscal planning,” says Sjoquist.
Heaghney succeeds the late Henry Thomassen, who had served as economic advisor to eight Georgia governors including Perdue. He brings to the state 20 years of experience as an economic consultant for businesses ranging from Tenneco, Inc. to Acxiom Corporation, his latest employer. He earned a Ph.D. in Economics from Rice University in Texas and a B.S. in Business Administration from the University of Missouri.
In announcing his appointment, Gov. Perdue noted that Heaghney brings the state a fresh approach to developing revenue projections. “I have full confidence that Dr. Heaghney will put his private sector experience to good use performing one of our most important tasks: accurately forecasting Georgia’s economic outlook,” he said.
