The coming year will not be Shangri-La. But it should not be a complete disaster, either, thanks to a diverse economy, said Steve Wray, executive director of the Economy League of Greater Philadelphia.

It is the benefit of not having all your eggs in one basket.

"We're not the financial capital of the U.S. or the aerospace capital of the U.S.," said Rich Stein, the league's research director.

Said Wray: "What we have to continue to do is leverage those assets we have. We have to keep our eye on both fixing our current issues, but keeping an eye on where we want to go."

- Diane Mastrull