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Economic Conditions Survey Results

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2019 Economic Conditions Survey Results presented by Aaron Nelson, The Chamber's President and CEO

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Economic Conditions Survey Results

  1. 1. 2019 Economic Conditions Survey Results February 13, 2019 | Silverspot Cinema Presented by Aaron Nelson, President and CEO The Chamber
  2. 2. Impact of the Economy
  3. 3. Economic Impact Remains Positive Overall 44% 56% 3% 2% 50.4% 26% 6.1% 5% 73.2% 71% 0% 20% 40% 60% 80% 2008 2009 2012 2013 2014 2015 2016 2018 2019 How has the current state of the economy affected your organization? Negatively Not Much Positively
  4. 4. Wages
  5. 5. Percent of Employees earning more than $13.70 continues to rise. 56% 62%59% 67%71% 86% 0% 20% 40% 60% 80% 100% 100% of employees greater than 80% of employees What Percent of Your Employees Earn More $13.70 Per Hour in 2018 (Living Wage)? 2016 2018 2019
  6. 6. Local Business Climate and Local Government
  7. 7. Most Survey Respondents are Located in Orange County 69% 4% 10% 2% 0% 15% 0% 20% 40% 60% 80% Orange Chatham Durham Wake Alamance Multiple Where is your Organization Located? 2019
  8. 8. View of Local Government as “Very” or “Somewhat” Pro-Business Declines 12.7% 54.0% 9.5% 19.0% 4.8% 6.4% 46.8% 31.9% 12.8% 2.2% 0% 10% 20% 30% 40% 50% 60% Very Pro- Business Somewhat Pro- Business Neutral on Business Somewhat Anti-Business Very Anti- Business Thinking about the local business climate, would you say that local government here is: 2018 2019
  9. 9. Percent of Members Reporting Pro Business Government Declines to 53% 63.8% 52.6% 66.7% 53.2% 0% 20% 40% 60% 80% 2015 2016 2018 2019 Thinking about the local business climate, would you say that local government here is: Somewhat or Very Pro-Business
  10. 10. Performance Projections
  11. 11. Projection for “strong growth” declines, “moderate growth” increases 12% 69% 16% 2% 24% 65% 10% -5% 5% 15% 25% 35% 45% 55% 65% 75% Strong Growth Moderate Growth Remain Flat Decline Given the state of the local economy, how do you expect your organization to perform over the next 12 months? 2016 2018 2019
  12. 12. Projections for "Moderate or Strong Growth" Over the Next 12 Months Returns to 2015 Levels 82.5% 75.8% 89.3% 81.5% 60% 70% 80% 90% 100% 2015 2016 2018 2019 Given the state of the local economy, how do you expect your organization to perform over the next 12 months? Strong to Moderate Growth
  13. 13. Sales Projections
  14. 14. 80% of Local Organizations Project Sales Growth 1.7% 8.2% 3.2% 4.9% 17.6% 23.0% 25.8% 14.6% 80.7% 68.9% 71.0% 80.5% 0% 20% 40% 60% 80% 100% 2015 2016 2018 2019 How do you expect your organization’s sales to change during the next 12 months? Decrease No Change Increase
  15. 15. Workforce Projections
  16. 16. Local Organizations’ Plans to Add Workers Declines, No Plans to Reduce Workforce 5% 0% 2% 59% 46% 54% 36% 54% 44% 0% 20% 40% 60% 80% 2012 2013 2014 2015 2016 2018 2019 Does your organization have plans to increase or reduce its workforce in the next 12 months? Reduce Workforce No reduction or addition Add workers
  17. 17. 44% of Local Businesses Plan to Add Workers in 2019 35.8% 39.7% 29.8% 39.7% 46.1% 54.0% 43.8% 0% 10% 20% 30% 40% 50% 60% 2012 2013 2014 2015 2016 2018 2019 Does your organization have plans to increase or reduce its workforce in the next 12 months? Add workers

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