2020 Fox Cities Economic Outlook Survey

FOX CITIES CHAMBER OF COMMERCE

ECONOMIC OUTLOOK SURVEY RESULTS

2020 FOX CITIES CHAMBER OF COMMERCE

ECONOMIC OUTLOOK SURVEY RESULTS TABLE OF CONTENTS Methodology .................................................................................................................................... 3 Survey Respondents .................................................................................................................... 4 How Was 2019? .............................................................................................................................. 6 Expected in 2020 ........................................................................................................................... 8 Qualified Workforce .................................................................................................................. 10 Advantages & Challenges ......................................................................................................... 11 Life & Business in the Fox Cities .......................................................................................... 12 Questions & Responses .............................................................................................................. 14

FOXCITIESREGION.COM

1

EVENT SPONSORS PRESENTING SPONSOR:

SUPPORTING SPONSORS:

RADIO SPONSOR:

2

IN PARTNERSHIP WITH:

FOXCITIESCHAMBER.COM

METHODOLOGY The 2020 Fox Cities Economic Outlook Survey was conducted from January 6th through January 17th, 2020. The twenty question survey was distributed and administered by the Fox Cities Regional Partnership, the economic development division of the Fox Cities Chamber of Commerce. Survey participation included 229 businesses and organizations located in the Fox Cities region (Outagamie, Calumet and the northern portion of Winnebago Counties).

Respondents fell within the following categories:

MFG

• Manufacturing

F.I.R.E.

• Financial • Insurance • Real Estate

TRADE

• Wholesale Trade • Retail Trade

SERVICE

• Professional, Scientific, and Technical Services • Administrative and Support, Waste Management and Remediation Services • Health Care and Social Assistance • Accommodation and Food Services • Other Services (except Public Administration)

OTHER • • • • • • • •

Construction Public Administration Transportation and Warehousing Arts, Entertainment and Recreation Educational Services Information/Media Utilities Non-Profit

Survey results do not represent a statistically valid sample but are intended to offer general insight into the regional economy.

FOXCITIESREGION.COM

3

SURVEY RESPONDENTS 2020 INDUSTRY BREAKDOWN:

MFG

SERVICE

TRADE

NOTES:

4

FOXCITIESCHAMBER.COM

F.I.R.E.

OTHER

INDUSTRY COMPOSITION OF RESPONDENTS:

MFG

2016

F.I.R.E.

2017

TRADE

2018

FOXCITIESREGION.COM

SERVICE

2019

OTHER

2020

5

HOW WAS 2019?

GROSS SALES COMPARED TO PREVIOUS YEAR:

2015 2016 2017 PROFITS COMPARED TO PREVIOUS YEAR:

2018 2019

6

FOXCITIESCHAMBER.COM

EMPLOYMENT COMPARED TO PREVIOUS YEAR:

NOTES:

SALARY INCREASE IN PREVIOUS YEAR:

FOXCITIESREGION.COM

7

EXPECTED IN 2020 ANTICIPATE SALES IN NEW YEAR TO BE:

2016 2017 Ahead of 2019

About the same

Behind 2019

NA

2018

ANTICIPATE PROFITS IN NEW YEAR TO: 2019 2020

8

FOXCITIESCHAMBER.COM

PROJECTED EMPLOYMENT IN NEXT YEAR:

Ahead of 2019

About the same

Behind 2019

NOTES:

NA

PROJECTED SALARY INCREASE IN NEXT YEAR:

FOXCITIESREGION.COM

9

QUALIFIED WORKPLACE AVAILABILITY AVAILABILITY OF QUALIFIED WORKERS:

2016 2017 2018 2019

Excellent/Good

Average

Below/Poor

NOTES:

10

FOXCITIESCHAMBER.COM

NA

2020

ADVANTAGES & CHALLENGES WHAT IS MOST BENEFICIAL ABOUT DOING BUSINESS IN THE FOX CITIES?

2019 2020 NOTES:

Worker productivity

Availability of necessary talent/workforce

Cost of doing business

Proximity to supplies

Proximity to markets

Other

WHAT IS YOUR BIGGEST CHALLENGE DOING BUSINESS IN THE FOX CITIES?

Worker productivity

Availability of necessary talent/workforce

Cost of doing business

Proximity to supplies

Proximity to markets

Other

FOXCITIESREGION.COM

11

LIFE & BUSINESS IN THE FOX CITIES RATE FOX CITIES AS A PLACE TO LIVE:

2016 2017

Excellent/Good

Average

Below/Poor

2018

NA

RATE FOX CITIES AS A PLACE TO DO BUSINESS:

2019 2020

Excellent/Good

12

Average

Below/Poor

FOXCITIESCHAMBER.COM

NA

Thursday, March 5, 2020 5:00-8:30 PM | Red Lion Hotel 333 W. College Avenue, Appleton The Excellence in Education Awards program is the new culminating K-16 event to recognize the unparalleled contributions of educators in the Fox Cities region.

PRESENTING SPONSOR:

www.foxcitieschamber.com

FOX CITIES CHAMBER

2020 Business Awards Nominations open January 23 - February 28 Visit www.foxcitieschamber.com to nominate an exceptional business today!

PRESENTING SPONSORS:

FOXCITIESREGION.COM

13

QUESTIONS & RESPONSES

2020 ECONOMIC OUTLOOK SURVEY

Figures may not sum due to rounding.

Manufacturing Respondents

Service

Trade (Retail &

F.I.R.E. (Finance,

Wholesale)

Insurance, Real Estate)

Other (Construction, Information, Public, etc.)

Total

35

75

19

40

60

229

% Of Respondents

16.8%

36.1%

9.1%

19.2%

28.8%

100.0%

Employees Represented

8,647

24,447

2,007

9,492

16,019

60,612

Was your 2019 gross sales activity... ahead of 2018

same as 2018

Were your 2019 profits...

behind 2018

ahead of 2018

not applicable

same as 2018

behind 2018

not applicable

MFG

16

48.5%

10

30.3%

7

21.2%

0

0.0%

MFG

15

45.5%

11

33.3%

7

21.1%

0

0.0%

Service

38

59.4%

10

15.6%

9

14.1%

7

10.9%

Service

33

51.6%

9

14.4%

16

25.0%

6

9.4% 0.0%

Trade

7

41.2%

5

29.4%

5

29.4%

0

0.0%

Trade

5

29.4%

7

41.2%

5

29.4%

0

F.I.R.E.

22

62.9%

8

22.9%

4

11.4%

1

2.9%

F.I.R.E

18

51.4%

12

34.3%

5

14.3%

0

0.0%

Other

16

32.7%

14

28.6%

12

24.5%

7

14.3%

Other

14

28.6%

14

28.6%

12

24.5%

9

18.4%

Overall

99

53.1%

47

19.6%

37

10.3%

15

16.1%

Overall

85

45.4%

53

21.6%

45

13.9%

15

17.5%

Was your firm’s 2019 local employment... ahead of 2018

same as 2018

behind 2018

not applicable

MFG

15

45.5%

12

36.4%

6

18.2%

0

Service

21

32.8%

32

50.0%

6

9.4%

5

0.0% 7.8%

Trade

3

17.7%

6

35.3%

7

41.2%

1

5.9% 8.6%

F.I.R.E.

11

31.4%

15

42.9%

6

17.1%

3

Other

12

24.5%

30

61.2%

5

10.2%

2

4.1%

Overall

62

35.1%

95

74.5%

30

13.4%

11

14.4%

During 2019, what was the average percent change in salary for your Fox Cities employees?

0%

1%

2%

3%

4%

5%

6%

>6%

Commission

MFG

2

6.2%

2

6.1%

4

12.1%

10

30.3%

5

15.2%

4

12.1%

0

0.0%

4

12.1%

2

6.1%

Service

10

15.6%

1

1.6%

12

18.8%

18

28.1%

5

7.8%

6

9.4%

0

0.0%

4

6.3%

8

12.5%

Trade

2

11.8%

1

5.9%

1

5.9%

5

29.4%

1

5.9%

2

11.8%

1

5.9%

2

11.8%

2

11.8% 14.3%

F.I.R.E.

1

2.9%

4

11.4%

7

20.0%

12

34.3%

1

2.9%

4

11.4%

0

0.0%

1

2.9%

5

Other

4

8.2%

3

6.1%

7

14.3%

18

36.7%

5

10.2%

6

12.2%

1

2.0%

2

4.1%

3

6.1%

Overall

19

51.5%

11

6.7%

31

16.1%

63

32.1%

17

12.9%

22

4.1%

2

1.0%

13

4.6%

20

6.7%

14

FOXCITIESCHAMBER.COM

QUESTIONS & RESPONSES

2020 ECONOMIC OUTLOOK SURVEY

Do you expect your profits in 2020 to...

Do you expect your sales volume in 2020 to... remain the same

increase

decrease

NA

remain the same

increase

decrease

NA

MFG

20

60.6%

9

27.2%

4

12.1%

0

0.0%

MFG

20

60.6%

8

24.2%

5

15.2%

0

Service

34

56.7%

19

31.7%

5

8.3%

2

3.3%

Service

33

55.0%

20

33.3%

5

8.3%

2

0.0% 3.3%

Trade

10

58.8%

7

41.2%

0

0.0%

0

0.0%

Trade

10

58.8%

6

35.3%

1

5.9%

0

0.0%

F.I.R.E.

22

62.9%

10

28.6%

2

5.7%

1

2.9%

F.I.R.E.

19

54.3%

12

34.3%

4

11.4%

0

0.0%

Other

22

47.8%

15

32.6%

4

8.7%

5

10.9%

Other

21

45.7%

16

34.8%

2

4.4%

7

15.2%

Overall

108

51.0%

60

24.7%

15

5.7%

8

9.3%

Overall

103

49.0%

62

26.8%

17

6.2%

9

10.3%

In 2020, do you anticipate local employment to... remain the same

increase

decrease

Is your company planning an expansion in 2020? yes

NA

no

MFG

14

42.4%

16

48.5%

3

9.1%

0

0.0%

MFG

17

51.5%

16

Service

22

36.7%

32

53.3%

4

6.7%

2

3.3%

Service

23

38.3%

37

48.5% 61.7%

Trade

4

23.5%

10

58.8%

2

11.8%

1

5.9%

Trade

3

17.6%

14

82.4%

F.I.R.E.

14

40.0%

15

42.9%

4

11.4%

2

5.7%

F.I.R.E.

9

25.7%

26

74.3%

Other

11

23.9%

27

58.7%

6

13.0%

2

4.4%

Other

11

23.9%

35

76.1%

Overall

65

36.1%

100

42.2%

19

4.1%

7

8.8%

Overall

63

35.1%

128

53.6%

What do you anticipate will be the average percent change in salary for your Fox Cities employees in 2020?

0% MFG

0

Service Trade F.I.R.E.

1%

0.0%

3

5

8.3%

2

11.8%

0

0.0%

Other

5

Overall

12

2%

3%

4%

9.1%

7

21.2%

13

39.4%

2

2

3.3%

10

16.7%

28

46.7%

1

5.9%

2

11.8%

4

23.5%

4

11.4%

8

22.9%

12

34.3%

1

10.9%

2

4.4%

10

21.7%

16

34.8%

2

51.5%

12

6.7%

37

16.1%

73

32.1%

11

5%

6.1%

5

3

5.0%

3

17.7% 2.9%

6%

>6%

15.2%

0

0.0%

2

5

8.3%

0

0.0%

1

5.9%

1

5.9%

3

8.6%

0

4.4%

7

15.2%

12.9%

21

4.1%

Commission

6.1%

1

3.1%

2

3.3%

5

8.3%

1

5.9%

2

11.8%

0.0%

2

5.7%

5

14.3%

0

0.0%

0

0.0%

4

8.7%

1

1.0%

7

4.6%

17

6.7%

SURVEY CONDUCTED BY:

FOXCITIESREGION.COM

15

2020 ECONOMIC OUTLOOK SURVEY

QUESTIONS & RESPONSES

How would you rate the availability of qualified workers in the Fox Cities? excellent MFG

0

good

average

0.0%

4

12.1%

12

below average

36.4%

8

24.4%

poor 6

not applicable 18.2%

3

9.1%

Service

2

3.1%

15

23.4%

20

31.3%

13

20.3%

7

10.9%

7

10.9%

Trade

0

0.0%

0

0.0%

5

29.4%

8

47.1%

4

23.5%

0

0.0%

F.I.R.E.

2

5.7%

9

25.7%

14

40.0%

5

14.3%

1

2.9%

2

5.7%

Other

1

2.1%

8

16.3%

18

22.5%

11

16.3%

8

16.3%

2

4.1%

Overall

5

3.1%

36

13.4%

69

28.4%

45

26.2%

26

11.3%

14

4.1%

How would you rate the local economic vitality at the present time? excellent MFG

1

good

average

below average

3.0%

23

69.7%

8

24.3%

0

0.0%

poor 0

not applicable 0.0%

1

3.0%

Service

5

8.3%

41

68.3%

11

18.3%

3

5.0%

0

0.0%

0

0.0%

Trade

1

5.9%

8

47.1%

8

47.1%

0

0.0%

0

0.0%

0

0.0%

F.I.R.E.

6

17.1%

19

54.3%

10

28.6%

0

0.0%

0

0.0%

0

0.0%

Other

5

10.9%

23

50.0%

18

39.1%

0

0.0%

0

0.0%

0

0.0%

Overall

18

8.8%

114

54.1%

55

22.1%

3

3.1%

0

0.0%

1

1.0%

How would you rate the national economic vitality at the present time? excellent

good

average

below average

poor

NA

MFG

1

3.0%

18

54.6%

12

36.4%

1

3.0%

0

0.0%

1

3.0%

Service

5

8.3%

31

51.7%

23

38.3%

1

1.7%

0

0.0%

0

0.0%

Trade

0

0.0%

5

29.4%

9

52.9%

2

11.8%

0

0.0%

1

5.9%

F.I.R.E.

3

8.6%

22

62.9%

9

25.7%

1

2.9%

0

0.0%

0

0.0%

Other Overall

1

2.2%

23

50.0%

19

41.3%

2

4.4%

1

2.2%

0

0.0%

10

4.6%

99

34.0%

72

40.7%

7

6.2%

1

1.0%

2

2.1%

By the end of 2020, do you anticipate the Fox Cities economy will have... grown

stabilized

13

39.4%

18

Service

28

46.7%

28

46.7%

4

6.7%

6

35.3%

11

64.8%

0

0.0%

F.I.R.E.

20

58.8%

13

38.2%

1

3.0%

Other

17

37.0%

27

58.7%

2

4.3%

Overall

84

33.5%

97

50.0%

9

4.6%

Trade

16

54.6%

declined

MFG

2

6.1%

FOXCITIESCHAMBER.COM

2020 ECONOMIC OUTLOOK SURVEY

QUESTIONS & RESPONSES

Compared to other U.S. cities of similar size, how would you rate the Fox Cities as a place to do business? excellent

good

average

MFG

10

30.3%

16

48.5%

6

18.2%

below average

not applicable

0

0.0%

1

3.0%

Service

17

28.3%

32

53.3%

9

15.0%

1

1.7%

1

1.7%

Trade

3

17.7%

6

35.3%

7

41.2%

0

0.0%

1

5.9%

F.I.R.E.

8

22.9%

21

60.0%

5

14.3%

1

2.9%

0

0.0%

Other Overall

8

17.4%

19

41.3%

18

39.1%

1

2.2%

0

0.0%

46

23.2%

94

42.3%

45

17.5%

3

2.6%

3

2.1%

Compared to other U.S. cities of similar size, how would you rate the Fox Cities as a place to live? excellent MFG

18

54.6%

Service

below average

not applicable

13

good 39.4%

1

average 3.0%

0

0.0%

1

3.0%

34

56.7%

15

25.0%

9

15.0%

0

0.0%

2

3.3%

Trade

4

23.5%

10

58.8%

3

17.7%

0

0.0%

0

0.0%

F.I.R.E.

14

40.0%

20

57.1%

1

2.9%

0

0.0%

0

0.0%

Other

17

37.0%

24

52.1%

4

8.7%

1

2.2%

0

0.0%

Overall

87

38.7%

82

39.7%

18

6.7%

1

3.9%

3

1.5%

What do you like best about doing business in the Fox Cities? worker productivity

availability of necessary talent/workforce

cost of doing business

proximity to markets

proximity to suppliers

other

MFG

12

37.5%

1

3.1%

7

21.8%

8

25.0%

3

9.4%

1

3.1%

Service

13

21.7%

2

3.3%

20

33.3%

15

25.0%

3

5.0%

7

11.7%

Trade

3

17.7%

0

0.0%

8

47.1%

3

17.7%

0

0.0%

3

17.7%

F.I.R.E.

9

25.7%

1

2.9%

13

37.1%

8

22.9%

0

0.0%

4

11.4%

Other

13

28.3%

3

6.5%

18

39.1%

9

19.6%

1

2.2%

2

4.4%

Overall

50

21.1%

7

4.6%

66

33.0%

43

16.5%

7

15.7%

17

27.5%

What is your biggest challenge doing business in the Fox Cities? worker productivity

availability of necessary talent/workforce

cost of doing business

proximity to markets

proximity to suppliers

other

MFG

1

3.0%

21

63.6%

4

12.1%

3

9.1%

2

6.1%

2

6.1%

Service

0

0.0%

36

60.0%

8

13.3%

5

8.3%

1

1.7%

10

16.7%

Trade

0

0.0%

13

76.5%

1

5.9%

2

11.8%

0

0.0%

1

5.9%

F.I.R.E.

2

5.9%

15

44.1%

6

17.7%

4

11.8%

1

2.9%

6

17.7%

Other

1

2.2%

31

67.4%

6

13.0%

6

13.0%

1

2.2%

1

2.2%

Overall

4

3.1%

116

53.1%

25

37.2%

20

10.3%

5

2.1%

20

7.7%

FOXCITIESREGION.COM

17

FO L LOW U S O N S O C IA L MEDIA

125 N Superior Street | Appleton, WI 54911 | 920.734.7101 www.foxcitieschamber.com | www.foxcitiesregion.com