Vermont Business Roundtable Blog

VBR & EPR Release 3rd Qtr Business Conditions Survey Results [12.10.14]

December 11th, 2014 by Sherra Bourget

12.10.14 – (South Burlington, Vt.) Today Lisa Ventriss, President of Vermont Business Roundtable (VBR) and Jeffrey Carr, President, Economic & Policy Resources (EPR), announced the 3rd Quarter results of their joint initiative, the VBR-EPR Business Conditions Survey. The survey, which is conducted quarterly, takes a look back at the economic conditions of the previous quarter and provides a predictive index going forward.

The economic indicator, constructed as a Diffusion Index, is designed to follow economic sentiments of Roundtable members over time, and serve as a tool for analyzing and presenting insight into the Vermont economic outlook as a leading economic indicator.

The 3rd Quarter survey achieved a response rate of 68 percent overall and included a 50 percent or greater response rate from all but one sector within the membership. The survey asked eight questions about the economic outlook, demand, capital spending, and employment. Survey results show that…

  • For the third quarter in a row, most responses to the overall question about the state’s business climate outlook were neutral to mildly optimistic.
  • More than half of respondents (56 percent) shared negative outlooks specifically with ease of hiring for available positions; and,
  • For the third quarter in a row, the manufacturing sector had the most optimistic outlook (67 percent) on expected demand and employment.

The first graph below shows the Diffusion Index of overall economic outlook, which measures the level of confidence (optimism or pessimism) respondents have about different aspects of the economy, and can range from 100 (where 100% of respondents answered “strong positive”) to -100 (where 100% of respondents answered “strong negative”). The historical survey data extends back to 2004; the new Diffusion Index methodology began in Q3 2013. The neutral, or “zero” line, is highlighted in red.

For this reporting period, the Diffusion Index of overall economic outlook, shows a declining level of optimism from Q2 2014 to Q3 2014, indicating that Vermont CEOs continue to feel mildly optimistic to neutral about the business climate in the coming three months.

3QtrSurveyDiffusionIndex

The next graph below shows the composite index of the Diffusion Index points for the questions relating to demand, capital spending, and employment in the last three months. The majority of responses were neutral or mildly positive, keeping the line steady between 20 and 30 index points.

3QtrSurveyCompositeIndex

When given the chance to express their opinions on other topics, members of the Roundtable gave voice to concerns and uncertainty regarding the state’s efforts around health care reforms, including health care financing. According to members, such uncertainty has resulted in many businesses being unable to make investments in their growth strategies.
The next survey will be conducted in late January of 2015.

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The Vermont Business Roundtable (VBR) is a nonprofit, nonpartisan organization of chief executive officers of Vermont’s leading private and nonprofit employers, representing geographic diversity and all major sectors of the Vermont economy. The Roundtable is committed to sustaining a sound economy and preserving Vermont’s unique quality of life by studying and making recommendations on statewide public policy issues. www.vtroundtable.org.

Economic & Policy Resources, Inc. (EPR) has been providing private and public sector clients throughout the U.S. and Canada with problem-solving economic research and analysis services for more than 25 years. Our professionals bring a broad spectrum and a deep reservoir of problem-solving knowledge and experience in applied economics to each assignment. We put our capabilities and experience to work for our clients so that they have the insight and understanding necessary to move forward with confidence. EPR has successfully completed assignments throughout the United States and in eastern Canada. www.epreconomics.com

VBR Launches Executive Leadership Series with Award-Winning Filmmaker

September 2nd, 2014 by Sherra Bourget

2014-Newsom-PR-Web

Women’s Advocate, Filmmaker and ‘Dynamo’
Jennifer Siebel Newsom Is Coming to Vermont in October

Vermont Business Roundtable Launches Its Inaugural Executive
Leadership Series with ‘What’s Holding Women Back in the Workplace?’

September 2, 2014 – South Burlington, Vt.—Despite graduating from college and graduate school in greater numbers than men, women continue to face significant hurdles in the workplace. Read the rest of this entry »

VBR & EPR Release 2nd Qtr Business Conditions Survey Results

August 19th, 2014 by Union Street Media

Vermont Business Roundtable and Economic & Policy Resources
2nd Quarter 2014 Business Conditions Survey Results Show Neutral Outlook

8.19.14 – (South Burlington, Vt.) Today Lisa Ventriss, President of Vermont Business Roundtable (VBR) and Jeffrey Carr, President, Economic & Policy Resources (EPR), announced the 2nd Quarter results of their joint initiative, the VBR-EPR Business Conditions Survey. Read the rest of this entry »

VBR Addresses Current State and Future Trends in Education [8.14.14]

August 14th, 2014 by Union Street Media

South Burlington, VT – At the invitation of Kevin Dorn, South Burlington City Manager, Roundtable President, Lisa Ventriss, addressed state leaders at the Vermont School and Municipal Leadership Conference on Education Property Tax and Funding Reform  on the “Current State and Future Trends: Public Education in Vermont” today.

In her opening remarks, Ms. Ventriss acknowledged that the Roundtable’s Board of Directors convened last year to discuss ways in which to:

  • “Get Unstuck” from our education rut, where there has been a lot of talk, but little action.
  •  Gain traction on comprehensive, system-wide education reforms, and move beyond words to actions,
  •  Create an “Informed and Engaged Public,” which is essential to any major policy change.
  •  That results in improved educational experiences and outcomes for all our career or college-bound students.

Since then the Roundtable has used data to tell the story and convey the “urgency” with which we believe change must happen.

EdFundSustainability

An Issue of Sustainability: Since the passage of Act 60, school property taxes have increased almost 3X greater than the rate of CPI. Source: Vermont League of Cities and Towns

Download Ms. Ventriss’ presentation, “Current State, Future Trends: Public Education in VT.”

Mark Your Calendars for a Powerful Event

July 9th, 2014 by Sherra Bourget

ENewsNewsomTickler5

On October 1st, the Roundtable will proudly present Jennifer Siebel Newsom, award-winning filmmaker, speaker and President and CEO of the non-profit organization, The Representation Project. She wrote, directed and produced the award winning documentary film, “Miss Representation,” which exposes the underrepresentation of women in positions of power
and influence in America. Newsom was also recognized on Newsweek’s List of “150 Fearless Women Who Shake the World”, Fast Company’s “League of Extraordinary Women” and San Francisco Business Times’ “Most Influential Women in Business.” Her latest movie, “The Mask You Live In”, asks: As a society, how are we failing our boys?

We invite you to plan to join us, with your team, as we address the question, “How can we increase the ranks of eligible women at the highest levels of influence and leadership within Vermont’s private, public, and not-for-profit sectors?”

Click Here to take a look at Newsom’s work
Click Here to check out some astounding statistics on women’s leadership

Contact the Roundtable’s office if you would like to help sponsor this event.

Roundtable Supports Economic Development Planning [7.01.14]

July 1st, 2014 by Sherra Bourget

Roundtable Supports Economic Development Planning

Education is the Foundation

 

(South Burlington, Vt.) The recent escalation in discussions at the statewide and national levels as to whether IBM will close or sell its facility in Essex Junction have created an opportunity for Vermont to strategically plan for the future at this important facility, regardless of ownership.

The Greater Burlington Industrial Corporation (GBIC) released a proposed Action Plan to encourage IBM or future tenants to continue to utilize the facilities and the talented workforce.  The Vermont Business Roundtable acknowledges the significant positive impact that IBM and this campus has on the economic vitality of the entire state of Vermont and supports the purposes of the proposed Action Plan; to retain the jobs that exist today while working to attract new future economic activity to this location. Read the rest of this entry »

Ventriss Op-Ed: Time to Acknowledge UVM’s Contributions [5.9.14]

May 9th, 2014 by Union Street Media

A recent Free Press editorial commented on the University of Vermont’s strategy of attracting top higher education leaders through its executive compensation practices. As a UVM alumna and Trustee, I feel compelled to respond. Read the rest of this entry »

VBR and EPR Release 1st Qtr Survey Results [4.15.14]

April 15th, 2014 by Sherra Bourget

Vermont Business Roundtable and Economic & Policy Resources
1st Quarter 2014 Survey Results Show Positive Outlook

(South Burlington, Vt.)  Today Lisa Ventriss, President of Vermont Business Roundtable (VBR) and Jeffrey Carr, President, Economic & Policy Resources (EPR), announced the 1st Quarter results of their joint initiative, the VBR-EPR Business Conditions Survey.  The survey, which is conducted quarterly, is the next generation of the Roundtable’s economic outlook surveys that began in 2004, and provides a more meaningful and predictive index going forward. The new economic indicator, constructed as a Diffusion Index, is designed to follow economic sentiments of Roundtable members over time, and serve as a tool for analyzing and presenting insight into the Vermont economic outlook, as a leading economic indicator. Read the rest of this entry »

Chair’s Column: Engaging Leaders Early and Often

April 12th, 2014 by Union Street Media

By Mary Powell, Chair

Will spring ever arrive, THAT seems to be the most significant question on the mind of Vermonters these days and there is a lot of chatter about the link between weather and economic activity.  So here is to looking forward to a sunny April, full of economic activity.

Last week we had a wonderful lunch with Chittenden County legislators and business leaders as Lisa and Sherra completed their statewide roadshow talking about the strategic plan of the Roundtable and how that ties to key issues currently facing the State of Vermont.  I thought it was a good exchange and it reminded me, so poignantly, of the importance of the Roundtable’s work and the importance of leadership, both formal and informal, in this small state of ours.

Without real leadership, from all sectors, we stand little chance of achieving our aspiration for having Vermont be the best place in America to do business, be educated and live life.  That is one of the reasons I feel so strongly about the importance, and value, of our membership companies engaging Associate members within their organizations . It is critical to the Roundtable, and the state’s economic success that we engage leaders in our organizations early and often on this important task of thinking about and contributing to the social and economic fabric of our state.

So, my simple request of each of you is to think about who in your organization might have the time, talent and capability to engage with the Roundtable and help build our future generation of leaders, a stronger state and improve our odds of achieving our goals and aspirations for Vermont.

Policy Making at the Roundtable

April 12th, 2014 by Union Street Media

By Lisa Ventriss

Someone recently asked me how the Roundtable reaches decisions around policy positions and when we chose to weigh in on issues, or not. And it then occurred to me that others may be asking the same question, so here the mystery will be revealed.

Beginning in November with the Board planning retreat, directors reflect on a number of inputs regarding policy issues that broadly impact all Vermonters, which ultimately inform and shape our policy agenda going forward: inputs from members; survey findings; recommendations from our working groups and task forces; data from a variety of sources; and interviews and conversations with knowledgeable experts from the public, private and non-profit sectors. That policy agenda, both Top Tier and Secondary Tier issues, becomes our foundation for work in the legislative arena. The strategic plan, which the Board has developed in the last couple years, and which we’ve presented at our regional membership meetings this winter, is our “North Star”.

That foundation, or roadmap, provides me with the right kind of directional guidance about issues the Roundtable can or should speak out on and, conversely, those issues that we cannot or should not weigh in on. Two key examples are: H.883 Education Governance Consolidation and H.552 Minimum Wage; the former bill we are strongly supportive of and actively working for passage and, on the latter, we have no formal position.

Over time the Roundtable has developed a position as trusted advisor on policy issues regarding PreK-Post-secondary education reform and we have formed solid relationships with members of the Legislature, the Administration, the State Board of Education, and the education lobby to gain important progress on key issues. Education policy is at the core of everything the Roundtable stands for, and we believe that H.883 is an important building block for moving toward better outcomes for students.

Minimum wage, on the other hand, is not a critical policy issue for the Roundtable. While we appreciate the benefits that will accrue to lower-wage positions in such critically important jobs as early childhood educators, we also know the burden that a sudden move to $10.10/hour would have on some businesses, and what the upward impacts would do to a company’s overall salary structure. In this instance, the Roundtable was neutral, yet we did strongly urge lawmakers to phase-in whatever increases they might approve.

As the Roundtable’s Founders suggested in 1987, members should “shine more light than heat” on public policy issues and we have taken that guidance to heart. Staying focused on core issues and providing trusted forums for members to engage and share perspectives is essential to our success. Please make sure you participate to your fullest capacity.