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CEO Confidence Improves in April 2012 Chief Executives and Business Owners on the Mississippi Gulf Coast indicated a more favorable outlook for the regional economy in the Gulf Coast Business Council's quarterly survey administered in early April 2012. The CEO & Business Owner Confidence Survey has been administered on a quarterly basis since 2008. Please click here to read the full report. Business Council releases Regional Economic Brief The Mississippi Gulf Coast Regional Brief for the first quarter 2012 is now available. To download the report in its entirety, please click here. The report includes economic statistics and anecdotal commentary related to employment, sales tax collections, select industry data, real estate, and other information useful to assess the Mississippi Gulf Coast economy. 2012 Masters Program Participants Announced The Gulf Coast Business Council's 2012 Masters Program will hold its opening reception on March 29 and the first session will be held in April. For a list of the 20 individuals who were chosen to participate in the program, as well as an overview of this year's theme, please click here. This year's program is being chaired by Adele Lyons and Susan Jacobs. Ms. Lyons is the Director of Development for Habitat for Humanity of the Mississippi Gulf Coast and Ms. Jacobs is Director of Human Resources & Administration at Ingalls Shipbuilding. The program will once again be facilitated by Brent Henley, Principal of the Pyramid Group. CEO Survey for Region Shows that Confidence in Mississippi Gulf Coast Economy Improving. The fourth quarter 2011 CEO & Business Owner Confidence Survey, which was administered in early January 2012, confirms that confidence in the Mississippi Gulf Coast economy is increasing. After three consecutive quarters of diminished confidence, respondents in the latest survey indicated that current conditions of the economy improved in the fourth quarter 2011 (relative to six months prior) and that they were very confident that over the next six months the regional economy will either remain stable or grow. To read the report in its entirety, please click here. Overall Measure of Business Confidence Remains Above Neutral. On July 18, 2011, the Gulf Coast Business Council Research Foundation released its CEO & Business Owner Confidence Survey for the second quarter 2011. The overall measure of business confidence for the regional economy on the Mississippi Gulf Coast remains above neutral and higher then the same quarter in 2010, but has dropped from levels reported in the most recent two quarters. While confidence in the regional economy has waned slightly in 2011, respondents did not indicate significant changes to hiring plans in the next six months, as more than 8 out of 10 indicated plans to either maintain current staffing levels or increase staffing levels in the next six months. To read the report in its entirety, please click here. Mississippi Gulf Coast Economy Grew in 2010. In May 2011 the Gulf Coast Business Council Research Foundation released its economic Regional Brief for the first quarter 2011. According to recently revised data from the Mississippi Department of Employment Security, the Mississippi Gulf Coast began adding establishment jobs in June 2010, and quarterly sales tax collections grew (year-over-year) in the last three quarters of 2010. Highlights of the first quarter 2011 include a spike in the value of commercial permits applied for and a net increase in establishment jobs over the last twelve months of 1,380 jobs. The Gulf Coast Business Council also continues to work with local tourism stakeholders, community leaders, and elected officials on its Premier Destination Tourism initiative. To read the report in its entirety, please click here. Economy on Mississippi Gulf Coast gaining momentum. The Regional Brief for the fourth quarter 2010 is now available and can be downloaded by clicking here. The report, which covers economic indicators including sales tax collections, employment, home sales, and gaming revenues, has been published at regular intervals since the third quarter 2008. Business Confidence at highest level on Mississippi Gulf Coast since 2008. The Gulf Coast Business Council Research Foundation has released its CEO & Business Owner Confidence Survey for the fourth quarter 2010. The survey was conducted between January 10 and January 20, 2011. The measure of business confidence on the Mississippi Gulf Coast reached an all-time high in January, with an overall index reading of 63. The survey has been administered on a quarterly basis since October 2008. A reading of 50 suggests a neutral opinion of the economy. A reading below 50 indicates a weak economy and as the reading approaches 100, a stronger opinion of the economy is indicated. Generally speaking, the index of 63 suggests that CEO's and Business Owners along the Mississippi Gulf Coast feel that the economy is nearing a phase of moderate growth. To read the report in its entirety, please click here. Overall economy on Mississippi Gulf Coast progresses during third quarter.
The Gulf Coast Business Council Research Foundation has released its economic regional brief for the third quarter 2010. The report demonstrates that certain broad economic indicators, such as sales tax collections and gaming revenues, advanced during the third quarter 2010 when compared to the same quarter 2009. While progress was made at the aggregate level, the Missisisppi Gulf Coast still faces challenges, including lingering impacts from the BP Oil Spill and a real estate market that remains inhibited by unaffordable and sometimes unattainable insurance. The employment situation on the Mississippi Gulf Coast remains stable, but in order for job growth to occur, recent positive trends in sales tax collections will need to continue and local business and community leadership should continue to work with BP to insure that the region's tourism and seafood industries are supported in 2011 in order to offset any negative perceptions that consumers might have about the Gulf of Mexico region. To read the report in its entirety, please click here.
CEO & Business Owner Confidence rebounds on Mississippi Gulf Coast in third quarter 2010.
Business confidence on the Mississippi Gulf Coast improved during the third quarter and the overall measure of business confidence is just above neutral. Members of the Gulf Coast Business Council and the Chambers of Commerce that serve the Mississippi Gulf Coast were sampled in early October; the current survey represents the ninth consecutive quarter that the survey has been administered. The majority (79%) of business owners and CEO's in the region believe that revenue levels in six months will either remain at current levels or increase, while 62% had no planned staffing changes and 20% planned on hiring. To view the full report, click here.
Research Foundation releases second quarter economic Regional Brief for Mississippi Gulf Coast.
While certain sectors of the Mississippi Gulf Coast economy and many individual businesses are being significantly impacted by the oil spill, the regional economy as a whole is proving again to be very resilient. Notably, prior to the oil spill the economy on the Gulf Coast was showing signs, such as increasing sales tax revenues, of transitioning from the national recession into a period of progress, and the Gulf Coast Business Council will be closely monitoring how the oil spill ultimately impacts our recovery in the third quarter and beyond. The Gulf Coast Business Council also believes that federal legislation similar to the GO Zone package, which passed in the aftermath of Hurricane Katrina, may be necessary to offset some of the long-term implications that the oil spill will have on our economy. To read the full report click here.
Business confidence index drops during second quarter 2010.
The Gulf Coast Business Council Research Foundation announced July 19 the release of its quarterly CEO and Business Owners Confidence report for the second quarter 2010. This represents the eighth consecutive quarter that the survey has been administered to business leaders and CEO’s on the Mississippi Gulf Coast. The survey was administered June 28 – July 8, prior to recent progress towards capping the leaking Deepwater Horizon oil spill. The survey was NOT structured to gauge economic impacts of the oil spill, but it can be inferred that the oil spill had an impact on business confidence on the Mississippi Gulf Coast. After rising in four out of five previous quarters, the overall measure of Business Confidence on the Mississippi Gulf Coast posted a decline in the second quarter 2010. When compared to previous surveys, future hiring plans were not impacted significantly, as the majority of respondents continue to plan to maintain existing staffing levels. To read the analysis in its entirety, click here.
Progress continues on Mississippi Gulf Coast
The Gulf Coast Business Council Research Foundation released its quarterly Regional Brief in early May, and the results are encouraging. During the first quarter sales tax diversions were only down marginally from prior year for the combined Mississippi Gulf Coast and in March aggregate sales tax diversions reported in the three coastal counties snapped a 27 consecutive month trend of declines. Unemployment levels subsided during the latter part of the quarter and several significant projects were announced that will positively impact the economy in the ensuing months. Weighing these results with other indicators, such as the CEO & Business Owner Survey that was administered at the end of the quarter, and anecdotal information, demonstrates that progress was made within the overall economy of the Mississippi Gulf Coast. To view the report in its entirety, please click here.
Economy on Mississippi Gulf Coast is Improving
Results from the first quarter 2010 CEO & Business Owner Confidence Survey, which is administered through a partnership between the Gulf Coast Business Council Research Foundation and area Chambers of Commerce, are encouraging. For the first time since the second quarter of 2009, business leaders reported that the current state of the economy relative to six months prior was slightly better overall. The gap between how executives feel about the current state of the economy compared to future expectations narrowed, suggesting that progress is being made and that business leaders are beginning to experience the improvements that have previously been forecasted. To view the complete report, please click here.
Research Foundation Releases School Start Date Study
The Gulf Coast Business Council Research Foundation announced on January 26, 2010, the release of its Introductory Study of Later School Start Dates in Mississippi. The study is not an endorsement of moving school start dates back in Mississippi. The Business Council hopes that educators, legislators, and other stakeholders will explore all facets of the issue in an open an honest dialogue. The study explores the potential economic impacts of moving school start dates back while maintaining the same number of instructional days and analyzes the effect such legislation has had in other southern states.
While the report is an important set of facts related to the issue of school start dates, it is understood that it is not the only information which is important to the dialogue and it is paramount that all other points of view and data points are fully explored in a broad process by appropriate stakeholders.
Port Alliance Encourages Public Membership
The Port Alliance For Jobs and Community Development is a newly-formed group of citizens who support the increase of jobs at the State Port at Gulfport and the development of the Coast Communities which will result from the full restoration of the Port at Gulfport.
Membership in the Port Alliance is voluntary and open to all members of the public who support the restoration of the Port. Download the Port Alliance membership application here.
To learn more about the restoration visit www.portofthefuture.com.
Wind Pool Study Reveals Impact on Economy
A study commissioned by the Gulf Coast Business Council Research Foundation and conducted by the John C. Stennis Institute of Government at Mississippi State University evaluates the economic impact of the proposal for additional funding of $20 million into the wind pool.
An analysis of the study, released by the Gulf Coast Business Council Research Foundation, states that in addition to attracting commercial investments and reducing the burden of insurance costs to Gulf Coast homeowners, this additional $20 million in state funding will more than pay for itself as a result of new tax revenues to the state of Mississippi. The study estimates these new tax revenues to state coffers at $26.9 million.
Click to view the Executive Summary from the Stennis Institute and the Gulf Coast Business Council's analysis of the Report.
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