Thursday, January 11, 2018

Chicago Fed Economic Outlook Symposium: Summary of 2017 Results and 2018 Forecasts; U.S. Chamber: Regulatory Relief: The Untold Story of 2017; Senator Thune to be in Rapid City; #FamousChamber of Commerce Quotations: (Perseverance); #BestChamber practices: Champaign County Chamber: Business Success and Solutions; Sophomores encouraged to apply for Chamber’s 2018 Junior Leadership Program; Nationally-Acclaimed Economist Elliot Eisenberg set as Keynote Speaker for 2018 Economic Outlook Lunch in Fox Cities; Business leaders push for Amtrak to add stop in Bedford; Danville-Boyle County Chamber gets on board with Louisville to offer group insurance to its members; Troy Chamber President/CEO, Ara Topouzian, Appointed to Michigan Council for Arts and Cultural Affairs by Governor Rick Snyder; The La Porte Chamber Welcomes New Team Member Lindsay Jongkind; Town Square Publications Chamber Membership Directories and Community Profiles: The best in the U.S.



Good morning #Chamber World! It's going to be a GREAT day!


Chicago Fed Economic Outlook Symposium: Summary of 2017 Results and 2018 Forecasts

According to participants in the Chicago Fed’s annual Economic Outlook Symposium, the U.S. economy is forecasted to grow at a pace slightly above average in 2018, with inflation moving up a little and the unemployment rate remaining low.
The Federal Reserve Bank of Chicago held its 31st annual Economic Outlook Symposium (EOS) on December 1, 2017. More than 100 economists and analysts from business, academia, and government attended the conference. This Chicago Fed Letter reviews the forecasts for 2017 from the previous EOS, and then analyzes the forecasts for 2018 (see figure 1) and summarizes the presentations from the most recent EOS.
The U.S. economy entered the ninth year of its expansion in the third quarter of 2017. While the nation’s real gross domestic product (GDP) is at its highest level in history, the rate of economic growth since the end of the Great Recession in mid-2009 has been quite restrained. During the 33 quarters following the second quarter of 2009, the annualized rate of real GDP growth was 2.2%—just slightly above what is considered the long-term rate of growth for the U.S. economy.

Last year got off to quite a slow start, with the annualized rate of real GDP growth coming in at 1.2% in the first quarter; early in 2017, growth was hampered in large part by a dramatic drop in inventories, worth nearly $62 billion in real terms, from the previous quarter. The annualized rate of real GDP growth improved in the second quarter to 3.1%—as the change in inventories from the previous quarter was minimal and, thus, no longer the drag to growth it had been in the first quarter. The annualized growth rate in the first half of the year was 2.1%—quite close to the annualized rate since the expansion began. Growth in the third quarter was negatively affected by Hurricanes Harvey and Irma. Especially hard hit were the energy and chemical industries, which have a heavy concentration in the Gulf Coast states. Additionally, the damaging floods and winds forced many people to abandon their homes and vehicles, and shut down several southern ports. Even with the negative economic impact from the hurricanes, real GDP still expanded at a strong annualized rate of 3.2% in the third quarter. The port disruption in part led to a 0.7% drop in imports in the third quarter from the second quarter. This drop boosted net exports’ contribution (amounting to 0.4 percentage points) to the annualized rate of real GDP growth in the third quarter. Also, the need to replace and repair damaged homes, vehicles, and other property likely added temporary support to growth in the fourth quarter and beyond. Read more: Chicago Federal Reserve Bank


U.S. Chamber: Regulatory Relief: The Untold Story of 2017


After coming into office on the heels of a relentless regulatory onslaught from the Obama administration, President Trump and leaders in Congress worked diligently throughout 2017 to rein in the regulatory state. These actions didn’t always make big headlines, but their results certainly have. Soaring business confidence, a robust stock rally, and consecutive quarters with growth rates of 3% tell the story of an economy finally feeling relief from overregulation.
President Trump started quickly upon entering office, promptly halting all pending regulations and signing executive orders to ensure that new rules were issued only if old ones were eliminated. Congress also took bold action early to seize a narrow window of opportunity to invalidate regulations using the Congressional Review Act (CRA).
Under the CRA, Congress reversed 14 midnight regulations issued in the waning days of the Obama administration. One example was the Federal Contracts Blacklisting Rule, a devastating regulation that could have barred businesses from federal contracts for mere allegations of labor violations. Congress more recently used the CRA process to rescind the anti-arbitration rule, which would have effectively banned arbitration clauses in consumer contracts and forced all disputes to be dealt with in court. It would have amounted to an enormous gift to the trial bar.
The Environmental Protection Agency was another bright spot for rule reversals. It took action to repeal harmful regulations like the sweeping Waters of the U.S. rule, which broadly expanded the definition of federally regulated bodies of water, and the Clean Power Plan (CPP), which sought to regulate large swaths of the economy.
Harmful labor regulations were also rescinded, including the Department of Labor’s (DOL’s) joint employer rule, which created confusion and threatened the ability of businesses to work with each other, particularly in the franchising setting. DOL also delayed key portions of the Fiduciary Rule, which would have further increased costs and limited choices for retirement savers.
A final example was a court’s blocking of the overtime rule owing to a legal challenge brought by the U.S. Chamber of Commerce. The rule would have doubled the salary level for exemption from overtime pay, raising costs for businesses and causing workers to have their hours cut.
The Chamber set the table for this historic regulatory relief through many years of lobbying Congress, engaging with agencies, and fighting in the courts. Heading into 2018, we stand ready to build on these results and advance a smart regulatory approach that will allow businesses to invest, expand, and hire with confidence. Read more: U.S. Chamber


Senator Thune to be in Rapid City

Senator John Thune will be holding a Q&A Session on Tax Refrom this Monday, January 15 at 2 p.m. During this hour-long event, Senator Thune will give a brief overview of the tax reform bill and spend the majority of the hour addressing questions from the audience. Come prepared to ask questions and learn more about this legislation that will have important implications for o
ur business community.
The details of the event are as follows:

Tax Reform Q&A with Senator John Thune
Monday, Jan. 15, 2018
2:00 PM – 3:00 PM
Western Dakota Technical Institute
Dakota Lecture Hall (just inside main entrance)


More information: Rapid City Chamber



#FamousChamber of Commerce Quotations: (Perseverance)

Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever does. - Margaret Mead





#BestChamber practices: Champaign County Chamber: Business Success and Solutions

Tuesday, January 23 
Sexual Harassment in the Workplace 
Presented by: Brian Smith, Partner, Heyl Royster Voelker Allen, P.C.

Over the past six months, episodes of sexual harassment have repeatedly made national headlines and caused major corporations to re-think their employment policies. Sexual harassment creates significant risk for all employers. This seminar will provide information and training about what constitutes sexual harassment and how to avoid having a hostile work environment. We will also discuss best practices for reducing sexual harassment in the workplace. You will walk away with valuable lessons on how to protect your employees and your company.

Tuesday, February 13
Seven Deadly Sins to Avoid in Writing Bids/Proposals to the Government
Presented by: Yan Liu, Huhts LLC 


The government is the largest single consumer in the US Economy. Thousands of small businesses nationwide grew larger by working as contractors for the government. Why not get a slice of the pie? Government contract work is not as complicated as it appears. In writing bids/proposals to the federal or state government to obtain contract work, some critical elements will determine if the proposal is a winner. Yan Liu will discuss seven pitfalls to avoid in writing a successful proposal. 


Tuesday, March 13
Engage to Retain
Presented by: Richard and Lynn Yoerk, Owners, Express Employment Professionals


In today’s economy, retaining top talent is a battle many businesses are fighting harder than ever. Talent pools are drying up and the skills gap continues to grow, which means highly skilled employees are at a premium. In a job market overflowing with opportunities for experienced workers, are you doing all you can to keep your best and brightest employees from exploring other options?

Engage to Retain is a training program intended for managers and supervisors that addresses two key components of an effective employee retention strategy: onboarding of new employees and the importance of ongoing development. During the presentation, you’ll learn techniques to ensure a new employee feels engaged from day one and how building a culture of growth and development is important to both your employees and the future success of your business. More information: Champaign County Chamber


Sophomores encouraged to apply for Chamber’s 2018 Junior Leadership Program



– Oxford-Lafayette County Chamber of Commerce is accepting applications for the 2018 Junior Leadership Program. All 10th grade students who live in Oxford and Lafayette County are encouraged to apply.
Junior Leadership is a program designed to help high school students develop the essential leadership skills to be successful in the future. Over 450 students have graduated from the program since its inception in 1998.  
The sessions are developed to introduce the students to team building techniques, goal setting strategies and are required to complete a community project prior to graduation.
Through dynamic community speakers and onsite tours of local facilities such as Baptist Memorial Hospital, Oxford City Hall, Ethridge Building and various facilities at the University, the students are able to get a unique view of what goes on in their community.  
Junior Leadership Chair Lolita Gregory said, “Through these sessions they see the variety of professions and services offered here in Oxford.  Going through this course may give them a better understanding of various jobs and help in making career decisions.” 
                The participants will work together in a program that combines nine group sessions plus time invested in actual community projects that require them to use and develop leadership skills.  Training sessions include leadership, team building, medicine, education, legal field and law enforcement, government, career development, and the arts, among other topics.  Each session students get an opportunity to meet top government officials, university professionals, medical specialists and local business leaders.  The program runs from late January through the mid April and meets on Monday afternoons after school from 4:15 till 6:15 p.m.
The program is restricted to 10th grade students from within Oxford and Lafayette County.  Acceptance is based on completion of the required forms and documents by the deadline of January 12, 2018 and the payment of $50 tuition fee.  The class is limited to 25 participants.  Preference will be given to applicants who, in addition to their potential for leadership, would contribute to the overall diversity and strength of the class and have available time to commit to the program.  
Notification of acceptance into the program will be made by phone on or before January 17th.  Orientation will be held on January 22nd and the program will conclude with a graduation ceremony on April 10th.
Junior Leadership is sponsored by Your Extra Closet - Oxford's Clean, safe and simple choice for self storage.  

Applications and a full schedule of sessions are available in the school counselor’s offices, online at www.oxfordms.com or can be picked up at the Chamber of Commerce at 299 Jackson Avenue West.  For questions and further information please contact Pam Swain, Senior Vice President, at pam@oxfordms.com or at the Chamber office at 662-234-4651.

Nationally-Acclaimed Economist Elliot Eisenberg set as Keynote Speaker for 2018 Economic Outlook Lunch in Fox Cities



Nationally-acclaimed economist and public speaker, Elliot Eisenberg, Ph.D., will be this year’s keynote speaker during the Fox Cities 2018 Economic Outlook Lunch. The event will be hosted by the Fox Cities Regional Partnership, the economic development division of the Fox Cities Chamber, along with presenting sponsor Investors Community Bank on Wednesday, February 14 at the Radisson Paper Valley Hotel.

Often called the “Stand-up Economist,” Eisenberg, president, chief economist and founder of GraphsandLaughs, uniquely specializes in making the arcana and minutiae of economics entertaining and relevant. With expertise and consultation sought-out by federal, state and local governments and legislators, hedge funds and investment advisory groups, Dr. Eisenberg is an established authority on the national and global economy and its impact on various industries.

The annual Economic Outlook Lunch provides an afternoon event filled with both macro and micro economic insights together with a keynote speaker discussing how national and global trends could impact the Fox Cities' economy. Also revealed are the results of an annual local Economic Outlook Survey, conducted by the Fox Cities Regional Partnership, covering business trends from the previous year and projections for 2018. The results are highlighted during the presentation and also printed for distribution during the event.

More information, registration for the event, and a link to take the survey are available on the Fox Cities Regional Partnership website. The event will be Wednesday, February 14, 2018 from 11:30 a.m. – 1:00 p.m. at the Radisson Paper Valley Hotel in Appleton. Individual tickets for Chamber members are $45.00 or $50.00 for general admission. Tables of ten are also available at $400.00 for Chamber members or $450.00 for general admission. To register, visit http://bit.ly/2018EOL or call 920.734.7101.

Media are encouraged to attend. Media Contact: Beth Pritzl, Director of Research and Technology, (920) 831-4905 - beth@foxcitiesregion.com





Business leaders push for Amtrak to add stop in Bedford
Business groups and other organizations are trying to persuade the Virginia Department of Rail and Public Transportation to establish a small passenger rail stop in the town of Bedford.
Bedford sits almost halfway between the Lynchburg and Roanoke stations. Passenger rail returned to Roanoke on Oct. 31 after a 38-year hiatus.
“The stop would have an impact on the general community in terms of growth, business development and tourism,” says Susan Martin, president and CEO of the Bedford Area Chamber of Commerce. “It will help residents travel outside the area, and it will bring folks into the area.”
The Bedford area is home to a variety of tourist destinations such as Smith Mountain Lake, Peaks of Otter Lodge and the National D-Day Memorial. “Where you stop would be almost exactly 18 miles to Smith Mountain Lake,” says Vicki Gardner, executive director of Smith Mountain Lake Regional Chamber of Commerce.
The rail stop is expected to help attract retirees from the Northeast as well as families that want to live and work in the area. “We are rich in advanced manufacturing,” says Martin. “We have a great quality of life here that we can offer to a good, skilled workforce.”
Local proponents of Amtrak service also say people living in the area would have rail access to Washington, D.C. and New York, connecting them to larger airports for national and international travel. “We believe the stop could also attract people working in D.C. that would want to live here,” Martin says. Read more: Virginia Business


Danville-Boyle County Chamber gets on board with Louisville to offer group insurance to its members



The Danville-Boyle County Chamber of Commerce has added a membership benefit that has attracted numerous local businesses to join: a health insurance program.
Outside of payroll, health insurance is the second- or third-largest expenditure a business incurs, said John Funkhouser, chamber member with Johnson & Pohlmann insurance company in Danville.
So, in October, the Louisville St. Matthews Chamber of Commerce began offering group medical insurance plans through Anthem Blue Cross Blue Shield to its local chamber members. It reached out to several other area chambers to see the interest level in forming an association group in order to offer the insurance. The local Boyle chamber got word and joined in. 
Now, Funkhouser said between St. Matthews and the local chamber, there are nearly 3,000 individuals currently participating in the association’s group insurance plans, which took effect Jan. 1.
As stated previously by the chamber’s former director Paula Folwer, “With the huge increases caused by the Affordable Care Act and health care reform, our small business members have been searching for relief.”
Valery McMann with Farmers National Bank, who sells the plans for the local chamber, said the health insurance business is very complicated. And because of the ACA, choices in health plans have become limited.
She said this plan “is just one more option” for business owners to have available. “I am happy to offer any alternatives out there.”
Health insurance is very important, McMann said. Even though the mandate for everyone to have health insurance has been repealed, “it is everyone’s responsibility to have health insurance … and financial peace of mind. We are all just one disaster away from being in real financial trouble.”
Interim chamber Director Myrna Miller said, “It was a real treasure to find this group health insurance and to be able to offer our members the plans.” Read more: Advocate Messenger


Troy Chamber President/CEO, Ara Topouzian, Appointed to Michigan Council for Arts and Cultural Affairs by Governor Rick Snyder




Governor Rick Snyder recently announced the appointment of Ara Topouzian, President/CEO of the Troy Chamber of Commerce, to the Michigan Council for Arts and Cultural Affairs.

The 15-member council, housed in the Michigan Economic Development Corporation, helps create an environment of artistic, creative, and cultural activity to support Michigan's quality of life and economic vitality.

“This group of individuals has a wide range of experience that I believe is well suited to help support the arts and cultural activities in Michigan,” Snyder said in a press release about all the appointments for the council.

"Michigan has a vibrant creative economy and I am excited to volunteer my time for the efforts to help strengthen our economy," said Topouzian.

Topouzian is the President and CEO of the Troy Chamber of Commerce, and previously served as the economic development director for the City of Novi. He is an active member in the community and is involved in various associations and boards. He is an active board member of Creative Many Michigan, a statewide organization that develops creative people, creative places and the creative economy for a competitive Michigan through research, advocacy, professional practice and communications. Topouzian holds a bachelor’s degree in communication from Wayne State University.

For more information on the appointment, please contact the Troy Chamber office via email – theteam@troychamber.com or call (248) 641-8151.



The La Porte Chamber Welcomes New Team Member Lindsay Jongkind


We had a new addition to our team last week- welcome Lindsay Jongkind as the Chamber's new Membership Director!

Lindsay has experience working for a nonprofit and years of experience in an office setting. She also completed her Event Management Certificate through the Art Institute of Pittsburgh Online in 2016 and works part-time as the Event Coordinator for READ La Porte County, Inc. conducting various events throughout the year. Lindsay is also a member of the La Porte Jaycees and is looking forward to being more involved in the community.

Lindsay's position deals with the recruitment of new members and retention of existing members. She also handles various billing duties for the Chamber and and will work closely with the Ambassadors Committee. If you would like to contact Lindsay, she can be reached at jongkind@lpchamber.com.




Town Square Publications Chamber Membership Directories and Community Profiles: The best in the U.S.



Town Square Publications, a division of the Daily Herald Media Group, is a national chamber custom publishing group that specializes in developing partnerships by producing high-quality print and digitally integrated publications along with other added value programs dedicated to creating relevancy for local chambers of commerce and other membership focused organizations interested in raising non-dues revenues.

Town Square Publications parent company, Paddock Publications, has over 100 years’ experience of print product development and dedicated customer service in communities throughout the Midwest. Our experience allows Town Square Publications to offer you attractive royalty and non-dues revenue share streams, provide direct distribution of your custom designed printed publications, including digital and mobile integration, and all with the quickest turn-around times available in the industry. Town Square also offers multi-media maps in both print and online formats, both with our No-Cost guarantee. More information: Town Square Publications

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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