Good morning #Chamber World! It's going to be a GREAT day!
Chicago Fed article: Economic Trends: Understanding global trends in long-run real interest rates
Real, or inflation-adjusted, interest rates may well be the most important prices for any nation’s economy. They govern intertemporal purchasing decisions facing households, firms, and all levels of government. That is, virtually all interactions in the marketplace that entail making a choice between spending now and spending later necessarily involve real interest rates, which specify the real cost of borrowing to make a purchase or, on the flip side, the real gain from saving.
As we show in a recent paper (Yi and Zhang, 2016), there is no discernible trend in long-run real interest rates1 for the 20 largest economies in the world that spans the entirety of the past 60 years. However, over three subperiods, distinct trends can be observed.2 We see a general decline in global real interest rates from the early 1960s through the mid-1970s, then an upward trend in these rates until the late 1980s, and finally, another downward trend through the present day. Moreover, we observe that long-run averages of real interest rates across countries have converged over the past quarter of a century—a pattern consistent with an increasingly financially integrated world.
In this article, we use a simple theoretical framework to derive the fundamental economic forces behind movements in long-run real interest rates. Our framework implies an arbitrage relationship that links the risk-free real interest rate to the marginal product of capital, or MPK (the additional output from an extra unit of physical capital, such as machinery); the depreciation rate of capital; and the risk premium (which captures the riskiness of a capital investment). Specifically, the lower the MPK, the higher the depreciation rate of capital, and the greater the risk premium, all else being equal, the lower the real interest rate is. In addition, we use our framework to derive the forces underlying MPK itself—such as total factor productivity (TFP)3 and the capital-to-labor ratio. A decrease in TFP and an increase in the capital-to-labor ratio will tend to decrease MPK (and therefore real interest rates). Read more: Chicago Fed
Saginaw County Chamber of Commerce supports “YES” vote on Saginaw Public School District Millage Renewal on Tuesday, May 2, 2017
Saginaw, Mich – On Tuesday, May 2, 2017, the residents of Saginaw, Zilwaukee, Buena Vista and Kochville Township (all municipalities within the Saginaw Public School District) will go to the polls to vote on a ballot proposal to renew the 19-mil non-homestead millage for Saginaw Public School District.
If passed, the millage will allow the Saginaw Public School District to collect per-pupil funding for the students absorbed when the Buena Vista School District was dissolved. Since that time, the Saginaw Public Schools absorbed students from the BV School District but there was no legal authority to collect the non-homestead taxes.
“Passing this millage request simply allows the Saginaw Public School District to collect non-homestead taxes paid by business, in order to cover the costs of the additional students previously attending Buena Vista Public Schools”, said Saginaw County Chamber President & CEO, Bob VanDeventer. “The businesses in Saginaw County support the school district. They recognize that this millage must pass in order to authorize the Saginaw Public School District to collect those tax dollars.”
Nexteer Executive Director, Global Corporate Affairs, Luis Canales said that “it is important that this millage vote passes. The Saginaw Public Schools provide educational services to these additional students and the funding needs to follow. Nexteer has been a willing partner in supporting public schools and will continue to support public education in Saginaw.”
The 28-member Board of Directors for the Saginaw County Chamber of Commerce overwhelmingly supported passage of this millage.
Additional Information contact: Veronica Horn, Senior Director Government Affairs, 989-757-2113 veronica@saginawchamber.org
Arlington Chamber: Young Entrepreneurs Academy (YEA!)
The Young Entrepreneurs Academy (YEA!) is a groundbreaking, 30-week program that transforms middle and high school students into real entrepreneurs. Over the course of the program, students develop business ideas, write business plans, conduct market research, pitch their plans to a panel of investors, obtain funding, and then actually launch and run their own legally-registered, fully-formed companies. Classes meet after school one day a week from November through May at our University Partner, Marymount University.
Our 2016-2017 YEA! program is now well underway, with 12 of the best and brightest students from across the area working hard to develop their business plans.
The Arlington Chamber’s YEA! curriculum includes:
Work with Arlington business professionals to develop ideas and create an actual business plan and presentation.
CEO Roundtable (Feb. 23, 2017) – Students meet with local CEOs to learn what it takes to launch and operate a successful business.
Investor Panel Event (March 30, 2017) – Students pitch their business plan to a panel of investors made up of members of the local business community, who decide which students receive funding to launch their business or social movement.
YEA! Trade Show (May 18, 2017) – Students demonstrate and sell their business or product during the Trade Show, hosted by the Ballston BID in Welburn Square near the Ballston Metro Station. The Trade Show is free and open to the public!
Graduation Ceremony (May 2017)
"I think that YEA! is an amazing opportunity that teaches you not only how to start a business, but the important skills that you'll need later in life, such as public speaking and building connections. ... Throughout my life, I have been enrolled in many after-school programs, but by far YEA! is the most useful and rewarding program that I've ever attended." - Laura Canseco, 2016 YEA! Graduate
Read more about Laura's experience here.
Apply to YEA!
Are you ready to be your own boss? Do you have a great business idea but don’t know how to pursue it? If your answer to either of these questions is yes, then YEA! is right for you. YEA! gives students ages 11-18 the chance to launch their own business or social movement and learn valuable skills that will be key to success in their careers. Take advantage of this hands-on opportunity to make your dreams and ideas a reality and apply today!
To apply for the 2017-2018 YEA! program, students are required to:
• Complete and submit the YEA! application, including the essay and short answer questions
• Submit transcripts
• Submit a letter of recommendation
The completed application packet must be submitted to Alex Held at aheld@arlingtonchamber.org by the deadline, which will be announced later this year. To keep up with announcements and other news about YEA! and the application process, check back on this webpage and make sure to follow our YEA! Twitter and Facebook pages, as well as the Chamber's Twitter, Facebook, and Instagram. Applications are accepted on a rolling basis. Once the application packet is received, students will be asked to come in for an interview. Acceptance into the program is based on all aspects of an application, as well as the personal interview. Students are not required to live or go to school in Arlington to be accepted to the program.
Questions? View our FAQs. You may also find additional details about the program are available on the national YEA! website.
City of Ridgeland Chamber of Commerce 2016/2017 Community Map
Town SquarePublications (www.townsquarepublications.com) can help you accomplish your chamber's gloss map, directory, community guide or publication needs at no expense to the chamber. Please email John Dussman at jdussman@tspubs.com or call (847)-427-4633.
Cambridge Area Chamber host: Location scouting in Wisconsin
For filmmakers, there's many pieces that must be put together to create a film. From casting to lighting, art direction to promotion, it can be an overwhelming task for a small crew on a limited budget - and setting the scene requires access to locations.
Film Wisconsin and Cambridge-area sponsors held a "boot camp" for local filmmakers who need help setting the scene. The Cambridge workshop was led by professional location scout Nick Langhoff, who has secured movie and commercial locations in a cross-country career.
"A lot of times, I get a call from L.A. or New York, and they're looking for a certain location," Langhoff says. "Could be a farm. Could be a football field. Could be a general location where I'm just trying to find a woods or something."
While Langhoff has made scouting a full-time gig, many independent filmmakers have to take it on as part of their job - and don't know where to start.
Langhoff offered guidance at today's workshop at question-and-answer sessions where guests asked questions about securing permission, working with local residents, and what to look for when scouting a great spot. He shared personal experiences in Wisconsin and beyond as lunch and coffee were served.
Guests were also grouped together and sent out to chosen locations, including a schoolhouse, a farm and a local winery. They toured the locations, discussing how they could be used for filming, then brought back their findings to present to the group before an optional networking event at Plow Restaurant.
Film Wisconsin, Cambridge Area Chamber of Commerce, Keystone Grill, Plow Restaurant and LMS Development sponsored the event. WMTV News
Bolingbrook Chamber Young Professionals Associates Speed Mentoring
On behalf of the Young Professionals Associate of the Bolingbrook Area Chamber of Commerce I wanted to extend one last invitation to tonight’s Speed Mentoring event being held at Tailgater’s in Bolingbrook.
“If you could get in front of the boss for 7 minutes what would you ask? Are you motivated to progress within your organization? Now is your opportunity to garner insight and knowledge from some of the top small and large business professionals in a fun, fast paced environment. The Young Professionals Association (YPA) of the Bolingbrook Area Chamber of Commerce invites you to join them at their first speed mentoring reception. Registered attendees will have rotating, five minute conversations with different professional mentors who will discuss, ask questions and answer questions utilizing their business experience. This event will be limited to the first 20 young leaders to sign up and will take place immediately preceding the YPA March Madness Event on March 16th. There is no charge for this opportunity.”
As the chair for the YPA committee this year, I am excited that we are starting this mentoring piece. It is something we are going to be building into our future events as well. I believe it is going to be such an asset for our younger business community in Bolingbrook, as they can have the opportunity to learn and grow from successful people in our community. So please, if you have employees in your business who are newer, younger, or motivated please forward this email and encourage them to attend. It is a free benefit for being a Chamber member!
Click on this link to register: http://bolingbrookchamber.chambermaster.com/events/details/ypa-speed-mentoring-8445
La Porte Chamber news: Education Committee Received Updates from Many Area Organizations at March Meeting
The Education Committee met again in March giving attendees the opportunity to hear about local education initiatives and projects. Some of the organizations the group heard from included United Way of La Porte
County, La Porte Manufacturers Association, Purdue University Northwest, Boston Middle Sch
ool, and WorkKeys. Junior Achievement reported that they had started their spring work with 150 classes and was looking to potentially add 4th grade curriculum. The La Porte Civic Auditorium reported that a Back to School event would take place on its premises in August. La Porte Community schools continued discussions on the building projects and some of the new classes to be offered. The Library County Public Library reported on open houses at their new facilities and stated that the last library (Coolspring) would be open in late June or early July.
Interested in joining this committee? Call the Chamber 219.362.3178, email gesse@lpchamber.com, or Click Here to learn more and fill out the Committee Preference Form.
HGTV carpenter to headline EMBDC Home & Garden Show
HGTV carpenter to headline EMBDC Home & Garden Show
With spring only hours away, many local homeowners are thinking about home repairs and renovations – be it do-it-yourself projects or something major that requires the expertise of a professional.
How to begin? The East Mississippi Business Development Corporation Home & Garden Show may be a good start.
Set for April 20, the premiere EMBDC event will showcase what’s available locally to help residents with their home improvement projects, as well as provide opportunities for them to purchase products to complete them.
“Meridian has so many businesses and individuals who have business that relate to and can provide things for your home and garden,” said Casey Holladay, events coordinator for the EMBDC.
Early registration for booth space is currently underway for home and garden entities to promote their services and/or sell their products.
“For instance, we have someone who owns a nursery who is bringing flowers to sell,” Holladay said. “Furniture store owners, bank representatives for loans, exterminators, carpet cleaners, architects – anyone connected with home repairs, improvements is encouraged to participate. We’re hoping to have 75 booths or more.”
Early registration continues through April 1. After the date, an additional $50 will be charged. Applications are available online at embdc.org or at the EMBDC office, which is located at 1901 Front St. A.
Local home and garden experts won’t be the only ones at the expo to advise homeowners on their home improvement projects.
Clint Harp, owner of Harp Design Company and best known for his role in the HGTV show “Fixer Upper” will make two presentations, as well as talk to attendees during a special meet-and-greet.
“‘Fixer Upper’ is HCTV’s No. 1 show,” Holladay said, “And who better to offer advice to local homeowners than the individual who builds the furniture and other items used for the homes remodeled in the show?”
Recognized as “Fixer Upper’s” “dumpster diving, reclaimed wood-loving carpenter, Harp quit his sales job in 2011 to pursue his dream of building furniture and owning his own company.
Now, together with his wife Kelly and their three kids, the Harps spend each day pursuing their dream and blazing the new trail of owning their own company. Harp Design Co. provides quality furniture and home goods to customers all across the U.S. and abroad. Constantly adjusting to unexpected national exposure, the Harps work hard each day to grow as a family and a business whose core values are love, beauty, and creativity. Read more: Meridian Star
Miss NIBROC 2016 to speak at Chamber of Commerce luncheon Tuesday
Miss NIBROC 2016 and Miss Kentucky 2017 contestant MaKenna Thibodeaux will be the featured speaker Tuesday at the Southern Kentucky Chamber of Commerce monthly membership luncheon.
Thibodeaux will be the first winner ever from the Miss NIBROC Festival pageant to move on to be a contestant in Miss Kentucky. The pageant officially became a Miss Kentucky preliminary event for the first time last year.
Thibodeaux will speak at the luncheon, and will also perform her special talent that she will take to the Miss Kentucky pageant — speed painting.
When she won Miss NIBROC 2016, Thibodeaux said it was the first pageant she’d ever entered. She graduated front Corbin High School last year and is currently attending the University of Louisville. She is the daughter of Heather Yeager and Jared Thibodeaux.
The 82nd annual Miss Kentucky Pageant will take place Jan. 29 through July 1 at the Otis A. Singletary Center for Performing Arts on the campus of the University of Kentucky in Lexington.
Anyone wanting to attend next Tuesday’s chamber of commerce membership luncheon is encouraged to register online at www.southernkychamber.com, or by emailing info@southernkychamber.com. You can also call Stephanie at 606-528-6390.
The luncheon will be held at the Cumberland Inn in Williamsburg and begins at 11:45 a.m. Anyone is welcome to attend. Cost of the lunch is $12. Read more: News Journal
Town Square Publications Chamber Membership Directories and Community Profiles: The best in the U.S.
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Chambers of Commerce and member focused organizations serve as a valuable resource in the local marketplace. The networking opportunities and representation with a wide variety of diverse businesses in your community is the catalyst of a successful organization. For further information about Town Square's publishing partnership with chambers of commerce and our No-Cost guarantee and Earned Revenue Share Program, To request your chamber publication or map proposal, contact Town Square Chamber Proposal
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