Vermont Employers Optimistic About Sales, Spending , Employment

first_imgSouth Burlington, January 24, 2007—Overall, Vermont CEOs are confident about the economyexpecting sales, capital spending, and employment to increase in the coming six months, according to a quarterly survey conducted by the Vermont Business Roundtable. Since the last quarterly survey, the number of CEOs predicting a rise in sales climbed six percentage points to 73 percent. Fifty-six percent of respondents forecast a rise in capital spending, compared with 40 percent in the third-quarter. The number of CEOs expecting to add employees jumped 23 percent in the 4th quarter, landing at 53 percent. The optimism expressed by Vermont CEOs echoes recent predictions made by economists to state officials, and remarks by Federal Reserve Bank of Boston President Cathy Minehan to the 16th annual Vermont Economic Outlook Conference held January 15th. The experts cited Vermonts low unemployment rate, 3.7 percent vs. 4.5 percent nationally, and the continued strength of its real estate market. Coincidentally, the Roundtables upbeat prediction for Vermont came as New Hampshire legislators received a more pessimistic forecast. The Nashua Telegraph reported on January 10th that Ross Gittell, Vice President of the New England Economic Project, told New Hampshire lawmakers the business advantage provided by the states low taxes was not sustainable in the face of competition from India and China. Roundtable President Lisa Ventriss states, The positive, short-term economic outlook gives us an opportunity to act for the long term. As a state, we must set priorities for the allocation of our scarce resources and make wise investments, beginning with our education system, to prepare our children for success in the global market. The current discussions around public K-12 school spending are the right place to begin that process.The Roundtables quarterly CEO Economic Outlook Survey measures the attitudes of Chief Executive Officers for 120 of the states top employers. Vermonts construction, education, health services, finance, real estate, insurance, hospitality/leisure, manufacturing, information, transportation, utilities, professional/business services and non-profit industries are represented. The response rate for this Quarter was 63%.Survey results, and the Roundtable recommendations for education delivery can be found at the Vermont Business Roundtable website at is external) -###-The Roundtable is composed of 120 CEOs of Vermont’s top private and nonprofit employersdedicated to making Vermont the best place in America to do business, be educated, and live life.Member businesses employ over 49,000 employees in virtually every county across Vermont.CONTACT: Chris Falk 802.865.0410 sends e-mail)last_img

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