Chamber interest: Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago speech at the Wisconsin Economic Forecast Luncheon before the Wisconsin Bankers Association in Madison, WI.
Connecting the Dots on Monetary Policy...
Good afternoon and thank you. Before I begin my remarks today, I should note that my comments reflect my own views and do not necessarily represent those of my colleagues on the Federal Open Market Committee (FOMC) or within the Federal Reserve System.
For me, the start of each new year marks a time for contemplating the past and for looking forward to the future. As many of you likely do, I begin each year optimistically, resolving to do things better, such as exercising more and eating more healthily. But as the months pass, I generally get sidetracked, despite the best of intentions. Of course, this is the year it will be different.
Recently, when I was putting together my forecast for the economy, I was struck by the realization that in each of the past six years I began with an optimistic view of how fast the economy was going to grow — only to be disappointed with the numbers coming in below my projections. To be candid, my batting average has been similar to my forecasts for exercise and healthy eating. For example, as 2015 began, I was expecting growth for the year to be in the range of 2-1/2 to 3 percent. Instead, it looks like real gross domestic product (GDP) rose roughly 2 percent. As errors go, this isn’t a particularly big one. But it is a noticeable one, and continues a string of downside misses that, frankly, has been getting tiresome.
So what about this year? Well, I’ve scaled things back a bit, and anticipate the economy will grow in the range of 2 to 2-1/2 percent in 2016. So, close to or a bit better than this past year. I also expect the unemployment rate to come down a couple of tenths and end the year at about 4-3/4 percent.
The central point underlying my forecast is that the fundamentals for most components of domestic spending are good. Most importantly, we’ve seen a substantial improvement in labor markets over the past several years. The unemployment rate is currently 5.0 percent; that’s down from its high of 10.0 percent in late 2009. Let me put this into context: One of the two goals for Federal Reserve policy mandated by Congress is to help the economy achieve maximum employment. Along with most of my colleagues on the Federal Open Market Committee, I judge that maximum employment is consistent with an unemployment rate that averages a little under 5 percent over the longer run. Now a few other labor market indicators — such as the large number of people who are employed part time but who would prefer a full-time job and subdued wage growth — suggest there remains some additional resource slack beyond what is indicated by the unemployment rate alone. So I don’t think we have quite met our employment mandate. But we certainly have made great progress toward meeting that goal. Read more: Federal Reserve Bank of Chicago
Indy Region Boasts Big 2015
The Indy Partnership says its nine-county region attracted nearly $1.5 billion in capital investment and 9,600 new job commitments in 2015. The regional economic development division of the Indy Chamber says a unified approach is paying off in sectors including life sciences, advanced manufacturing and technology.
The Indy Chamber, which merged with Develop Indy and the Indy Partnership a few years ago, leads regional business attraction efforts in the nine-county area. The chamber has also launched initiatives including Global Indy, which aims to grow the region's international economy in partnership with the Global Cities Exchange.
In 2015, Indianapolis boasted economic development announcements from companies including Finish Line Inc., Appirio, Caito Foods Service Inc. and Milhaus, accounting for a total of more than 1,100 new jobs.
According to the chamber, other highlights included:
Boone County: Online pre-owned car retailer Vroom is investing more than $13 million in a fulfillment center expected to create 220 jobs.
Hamilton County: NextGear Capital, which provides inventory financing to auto dealers, is investing $50 million to expand its Carmel headquarters and add 200 jobs by 2018.
Hancock County: John Morrell Food Group is adding 260 jobs and investing $43.5 million to open a distribution center.
Hendricks County: Integrated Distribution Services is investing more than $2.7 million to grow its Plainfield operations and add more than 70 jobs.
Johnson County: Biotech company B2S Labs has moved to downtown Franklin, investing $2 million and adding 40 science, finance and business jobs.
Madison County: Auto parts maker NTN Driveshaft broke ground on a more than 400,000 square-foot plant in Anderson. It is scheduled to open in April 2017 and create more than 500 jobs. Inside Indiana Business
Boone County: Online pre-owned car retailer Vroom is investing more than $13 million in a fulfillment center expected to create 220 jobs.
Hamilton County: NextGear Capital, which provides inventory financing to auto dealers, is investing $50 million to expand its Carmel headquarters and add 200 jobs by 2018.
Hancock County: John Morrell Food Group is adding 260 jobs and investing $43.5 million to open a distribution center.
Hendricks County: Integrated Distribution Services is investing more than $2.7 million to grow its Plainfield operations and add more than 70 jobs.
Johnson County: Biotech company B2S Labs has moved to downtown Franklin, investing $2 million and adding 40 science, finance and business jobs.
Madison County: Auto parts maker NTN Driveshaft broke ground on a more than 400,000 square-foot plant in Anderson. It is scheduled to open in April 2017 and create more than 500 jobs. Inside Indiana Business
Northern Virginia Chamber Announces Strategic Government Relations Hire
The Northern Virginia Chamber of Commerce (Northern Virginia Chamber), formerly the Fairfax Chamber, has announced the addition of Michael Forehand as Vice President of Government Relations and Counsel effective January 18, 2016. Forehand brings extensive experience and relationships across a wide range of industries and expertise in the field of government relations.
“The Northern Virginia Chamber has a proven track record of providing exceptional advocacy services for Northern Virginia businesses and communities,” said Northern Virginia Chamber President & CEO Jim Corcoran. “We have seen Mike’s expertise at work when he served as Vice Chair of our Policy Committee and as a member of the NOVABIZPAC Board of Trustees. I look forward to working with him to amplify our existing efforts and build upon our past successes.”
Michael Forehand, Vice President of Government Relations and Counsel
Previously, Mike served as Director of Advocacy and Community Outreach for Inova Health System, a five-hospital, not-for-profit health system serving Northern Virginia. His responsibilities included government relations and advocacy at the local, state, and federal levels on issues related to healthcare delivery, reimbursement, health reform, and others. Mike also represented Inova on various local boards, authorities, and commissions related to healthcare and human services.
A Northern Virginia native, Mike is a graduate of Fairfax County Public Schools, earned a Bachelor’s Degree from James Madison University, and a Juris Doctorate from the Washington College of Law at American University. He is a member of the Virginia State Bar, the Northern Virginia Workforce Development Board, and, until recently, served as Vice Chair of the Northern Virginia Chamber (formerly Fairfax Chamber) Policy Committee and as a member of the NOVABIZPAC Board of Trustees. Recently, Mike was selected as a member of the 2016 Political Leaders Program of the Sorensen Institute for Political Leadership at the University of Virginia. More Information: Northern Virginia Chamber
Naperville Area Chamber of Commerce: Commercial Real Estate Professionals (CREP)
The Commercial Real Estate Professionals (CREP) Network strives to be the preeminent business networking organization dedicated to advancing the education and achievements of Naperville Area Chamber professionals in commercial real estate. Through organized speaker presentations, industry discussions, and intragroup networking, CREP Network aims to enhance the success of its diverse members, whom represent nearly every discipline in the real estate industry.
The Commercial Real Estate Professionals (CREP) Network strives to be the preeminent business networking organization dedicated to advancing the education and achievements of Naperville Area Chamber professionals in commercial real estate. Through organized speaker presentations, industry discussions, and intragroup networking, CREP Network aims to enhance the success of its diverse members, whom represent nearly every discipline in the real estate industry.
Key Initiatives:
1. Business Development
2. Leadership Development
3. Industry Education
4. Market Intelligence
5. Career Outreach
About GBYP
Greater Brighton Young Professionals is a group dedicated to providing young professionals between the ages of 21 and 40 with the opportunity to interact professionally and socially with each other and the Livingston County community at large. Those involved with the GBYP group represent a wide cross-section of local careers and industries, from small business owners to corporate managers, associates and executives. The common denominator among all the members is the desire to grow and support the businesses of the Greater Brighton Area Chamber of Commerce. GBYP is committed to professional development and to contributing to the community through volunteer opportunities and leadership roles.
Greater Brighton Young Professionals is a group dedicated to providing young professionals between the ages of 21 and 40 with the opportunity to interact professionally and socially with each other and the Livingston County community at large. Those involved with the GBYP group represent a wide cross-section of local careers and industries, from small business owners to corporate managers, associates and executives. The common denominator among all the members is the desire to grow and support the businesses of the Greater Brighton Area Chamber of Commerce. GBYP is committed to professional development and to contributing to the community through volunteer opportunities and leadership roles.
Mission Statement
The mission of GBYP is to support young professionals and entrepreneurs throughout Livingston County; to encourage membership in the Greater Brighton Area Chamber of Commerce; to promote community involvement through group participation and volunteerism in local civic and charitable events and organizations; and to foster camaraderie and amity among its members and with the greater community of civic and business leaders through regular networking and social events.
Benefits of Attending GBYP Events:
- Personal and professional growth
- Network with other young professionals
- Meet and network with professionals of all ages to gain insight from those with years experience in their careers
- Participate and volunteer in the community
- Build your personal resume
- Stay updated with Livingston County business and community news
- Have a voice in the business community and become a part of the next generation of business leaders
Any member who regularly attends GBYP events, or would like to be more involved with the GBYP group, may inquire about joining the GBYP Board of Directors. The Board of Directors meets monthly to plan upcoming events and to make sure the group continues on track with its mission. Attendance at the monthly board meetings is expected.
For more information about GBYP, please contact Jen Ling at jenl@brightoncoc.org.
Oxford-Lafayette County Chamber of Commerce Making Plans for 2016 Junior Leadership Program
----Deadline for Applications is this Friday, January 15th
Oxford, Miss. – Oxford-Lafayette County Chamber of Commerce is accepting applications for the 2016 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. The program was modeled after a similar program was developed in Plano, Texas more than fifteen years ago. Over 430 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, Caterpillar, Chancery 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 eight group sessions plus time invested in an actual community project 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 early 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 this Friday, January 15, 2016 and the payment of $45 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 22nd. Orientation will be held on January 25th and the program will conclude with a graduation ceremony on April 11th.
Junior Leadership is sponsored by Your Extra Closet, Oxford's Clean, safe and simple choice for s3elf 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 call Pam Swain, Senior Vice President, at the Chamber office at 662-234-4651.
Introducing the Greater Louisville Inc. Member Perks program.
Save money every day on everyday business expenses as a GLI member.
Introducing the Greater Louisville Inc. Member Perks program.
Save money every day on everyday business expenses as a GLI member.
As the voice of local business throughout Kentuckiana, Greater Louisville, Inc. is always looking for ways to help local companies be more profitable and more competitive. That’s the motivation behind GLI Member Perks. This growing suite of discounted goods and services—offered by GLI members for GLI members—offer unique deals to help your business save money for reinvestment and growth. The GLI Member have crafted special savings open only to other GLI members. Click on any of their logos to learn more about their offer. More information here: GLI Member Perks
Town Square Publications Chamber of Commerce Community Profiles
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