- Global Business Confidence -26%
- Global business confidence as measured by this
survey remains very near the record low that has
prevailed since last November. Sentiment is eerily
weak across the entire globe and all industries. Oddly,
U.S. business confidence is very poor but seems a bit
better than anywhere else. Views regarding sales,
hiring and investment all remain extraordinarily poor.
Indeed, there are very few positive responses to any of
the questions across all of the respondents. Most
worrisome is the recent collapse in pricing power; a
record over one-third of respondents now say they are
cutting prices for their goods and services.
- Manpower Employment Outlook - US,
Canada, Western Europe
- Employment conditions appear set to deteriorate
in the second quarter of 2009, in line with forecasts of
continued global economic weakness. Employers in
most of the 33 economies surveyed in the Manpower
Employment Outlook Survey intend to reduce their
total headcount, with only employers in 13 economies
intending to add to their workforces. This represents a
sharp fall in the number of economies where
employers are expecting to add staff, with the first
quarter's survey showing employers in 25 nations
expected to increase their staffing levels. Equally
alarming is the general trend of deterioration in
employment conditions, with only readings for India,
Italy, South Africa and the Czech Republic indicating
employment conditions improved when compared
with the first quarter's survey.
- Treasury Budget -$192.8 bil
- The unified budget deficit for February was $193
billion. Through the first five months of fiscal 2009, the
budget deficit was $765 billion, almost three times
greater than at the same point in fiscal 2008. The
recession and the response to the financial crisis,
including purchases of stock as part of the TARP,
have greatly added to the deficit this fiscal year.
- Job Openings and Labor Turnover Survey -
- The number of available jobs drifted lower in
January and was down an extraordinary 31% from a
year ago. Hiring was off by 12%, while separations
were about even with the year-ago level. Separations
have exceeded hires for the past year, although at
3.6% the separation rate still remains relatively low,
below its rate during the last recession.
- Business Inventories (MTIS) -1.1%
- Total business inventories decreased 1.1% in
January, in line with expectations. Retail inventories
were the only new data in this report, falling 1.7%.
Inventories have been steadily falling for the last
several months, finally putting a halt to gains in the I/S
ratio, which remained at 1.43.
- Quarterly Services Survey +2.6%
- In the fourth quarter of 2008, professional,
scientific and technical services revenue increased by
2.6% on a year-ago basis. The hospital and nursing
care industry expanded revenue by 4.8%,
administrative and support services revenue grew
1.1%, and information revenue decreased by
- Mass Layoffs + 158%
- Wholesale inventories declined by 0.7% in
January, following a downwardly revised 1.5% in
December. The consensus was looking for a 1%
decline. Sales fell by 2.9% in January after falling by a
downwardly revised 3.7% in December. The inventory-
to-sales ratio rose by three-hundredths of a point from
an unrevised 1.27 to 1.3 in January.
- Jobless Claims +9K
- Initial jobless claims increased by 9,000 to
654,000 for the week ending March 7, exceeding
expectations for a milder gain. Continuing claims
increased by 193,000 to 5.317 million for the week
ending February 28, setting another new high.
Combined, these indicators point to persistent
weakening in the labor market that will not soon
- MBA Mortgage Applications Survey +11.3%
- In the week ending March 6, the MBA market index
increased 11.3% to 723.4. Both parts of the composite
also increased. The refinance index, increasing
13.3% this week, finished at 3,470.7, while the
purchase index ended at 253.3, up 7.1%. These
increases were driven by an 18-basis point decline in
- Retail Sales (MARTS) -0.1%
- Retail sales fell a slight 0.1% in February but rose
0.7% excluding autos. However, January gains were
revised higher. Total sales rose 1.8% (originally up
1%), and sales excluding autos rose 1.6% (originally
up 0.9%). Gains in February were widespread, led by
gas stations, apparel stores, and general
merchandise stores. Auto dealers, grocery stores,
building supply stores, and restaurants posted
declines. Core sales rose 0.5% and were revised
from a gain of 0.8% to a gain of 1.4% for January.
- Chain Store Sales +0.2%
- Chain store sales rose 0.2% in the week ending
March 7, reversing about a third of the prior week's
0.6% decline. The year-ago decline worsened slightly
to 0.9%, the fourth consecutive week it has been just
under 1%. The bottom line, however, remains falling
sales, a sign of restrained spending.
- Oil and Gas Inventories +700kb
- Crude oil inventories rose by 700,000 barrels
during the week ending March 6, according to the
Energy Information Administration, above expectations
of a 250,000 barrel buildup. Gasoline inventories fell
by 3 million barrels, exceeding the consensus
estimate of a decline of 1 million barrels. Distillate
inventories rose by 2.1 million barrels, more than
expected. Refinery operating capacity fell to 82.7%
from 83.1%. Total domestic petroleum demand fell
sharply. This report will cause oil prices to fall
- Weekly Natural Gas Storage Report -
- Working gas in underground storage decreased
by 112 billion cubic feet during the week ending March
6. The consensus estimate was for a decline of 98
billion cubic feet.
Public Policy Initiatives
- AR - Beebe Announces 'Greening' of Schools.
As the state's second public school received
official recognition for its innovative, energy-saving
design, the rest of Arkansas' public school system
stands to reap some of the same benefits through
recovery funding. Gov. Mike Beebe has said he
intends to use some federal recovery money to make
school buildings more energy-efficient.
- TN - Bredesen Announces Group to Oversee
Recovery Distribution. Gov. Phil Bredesen
announced that a new oversight group will be created
to determine how the federal stimulus money will be
distributed throughout the state. The governor said the
panel will be made up of a representative from each
state agency. Charles Harrison of the state
comptroller's office will be in charge of oversight for
these funds and a Web site will also track how the
funds are spent. http://www.wsmv.comdetail.html
- MO - Nixon Works to Expand Health Care
Coverage. Gov. Jay Nixon is rolling out a plan that
uses increased payments from Missouri hospitals to
expand Medicaid eligibility without additional costs to
the state. The Medicaid program provides health-care
coverage to the poor and disabled. Under Nixon's
proposal, an additional 34,800 low-income
Missourians would be eligible for coverage. "I
commend the leaders of Missouri's hospitals for
partnering with me to reach this landmark agreement,
and I look forward to working with the legislature to
take advantage of this historic opportunity to increase
access to health care without raising taxes on
Missourians," Nixon said.
- WI - Doyle Announces New Funds for
Families. Gov. Jim Doyle says Wisconsin will get
more than $110 million in recovery funds for its
FoodShare program. FoodShare helps families with
limited incomes buy food. It serves about 500,000
people who have lost jobs, live on fixed incomes or
have low-paying jobs. Doyle says almost all
FoodShare participants will get a 13.6 percent
increase in their benefits starting April 1. He says the
increase will help make sure children aren't going
hungry and families can get basic necessities.
- CO - Ritter Welcomes Energy Office Funds.
It is raining dollars on the Gov. Ritter's Energy
Office. The agency, which promotes renewable energy
and efficiency and employs 30, expects its budget to
skyrocket to $50 million this year, thanks to the
economic-recovery bill signed by President Barack
Obama last month. Its prior-year budget was roughly
$4 million. Energy Office director Tom Plant said the
federal dollars should flow into the agency as early as
April 1. http://www.denverpost.com882940
- PA - Rendell Offers Assistance to Struggling
Families. Gov. Ed Rendell plans to speak more
about his economic relief plan. As Rendell speaks,
his top Cabinet officials will fan out to schools across
the state to host regional meetings on the plan. The
Rendell administration has set up a Web site
called 'Here to Help' which explains the plan and how
to get assistance. Among other moves, Rendell is
ordering the state's 67 CareerLink offices to expand
their hours into the evening, and possibly Saturdays.
- NM - Richardson Creates New Office to
Oversee Recovery Funds, Promote Transparency.
Gov. Bill Richardson announced the creation of
the New Mexico Office of Recovery and Reinvestment,
this week which will oversee spending of the $1.8
billion in federal recovery money expected to be
invested in New Mexico during the next two years.
Richardson appointed former Governor Toney Anaya
to lead the office, which will work closely with state
agencies to facilitate access to funding, assist with
compliance, and promote transparency throughout the
process. "I have put together a team of experts who I
can count on to cut through the bureaucracy and red
tape that comes along with the recovery money," said
Richardson. "We need to target this money where it is
needed most - creating jobs in New Mexico
- WI - Op-Ed: Washington Should Look to
Wisconsin for Answer to Health Care Reform. In
an op-ed published this week, Gov. Jim Doyle
writes, "America is home to the best medical
technology and best doctors in the world.
Unfortunately, their services are a luxury that many
Americans cannot afford. Unless we reform this
broken system we will continue to saddle our children
and grandchildren with increasing debt. While many
states are cutting back on health care programs, here
in Wisconsin we are moving forward, expanding
access to health care at an unprecedented rate. In
February 2008, we ensured that every child in our
state has access to affordable health insurance. In
July, we will provide 98 percent of our residents with
health care coverage by expanding BadgerCare Plus
to low income individuals that don't have dependent
children. When it's complete, we'll have the second
largest percentage of residents insured of any state."
Redwood Road Corridor
Bonneville Research is currently working with
West Valley City to develop a comprehensive
redevelopment strategy for the future of the important
Redwood Road Corridor.
- For growth and redevelopment of the entire
Redwood Road Corridor within West Valley City;
- To improve the safety and operational efficiency for
all modes of travel, while creating a more
economically productive area, and
- To recognize that in the current economic climate
that total amount of retail space (including Auto
Dealerships) likely will be reduced.
- Redevelopment is one of the most effective ways
to breathe new life into deteriorated areas whose
conditions act as a barrier to new investment by
- Redevelopment enables communities to grow
inward, not just outward.
- Redevelopment enhances and expands local
businesses, renovates declining housing stock and
improves public infrastructure systems and facilities.
- Redevelopment helps encourage new housing
and businesses to locate within already developed
- Redevelopment tools: Urban Renewal/Economic
- Ability to assemble land for development
- Ability to utilize tax increment and issue bonds
- Ability to invest in infrastructure to "lure" private
- Ability to create affordable housing opportunities
- Establish a wide variety of partnerships to
ensure "buy-in" and plan implementation.
- In West Valley City we anticipate using tax
increment and developer incentive tools to enhance
and redevelop four key retail/economic centers along
Utah Economic Snapshot - First Eight Months
Public Policy Initiatives
Stimulus Spending - How do we rank?
This Weeks Leads
- Place Branding
- What is it?
- How do we rank?
- Just another name for tourism marketing?
new logo and tag line?
is not a logo or
tag line, but instead a commitment to a community-
wide strategy to define, articulate and communicate
what distinguishes one community from another.
delivering an exceptional and authentic experience
that is memorable and emotional.
is a decision
making tool - a promise of value to consumers-e.g. a
guarantee of value, of quality, of performance, of
service delivery, or of after-care. to buy a particular
product, to access a specific service, or to travel to a
city, region or country for a holiday or to attend an
event, to invest in a development or to open a factory,
the public policy of a community and must effectively
communicate and create that unique destination
experience to the customer.
confused with "place marketing" which tends to focus
on the promotion of current attractions and the place
as a destination for tourists. By comparison, creating
and managing a place brand strategy involves a
rigorous assessment of how a place operates, the
assets it has, its offer to consumers, its ability to
survive and grow, its ambition and vision for its future
and the resources it has at its disposal to realize that
vision, and the identification of the "on-brand" actions
it needs to take to make a reality of it;
takes time, and
building a brand requires but real changes (in attitude
and action) on the ground before ad campaigns and
public relations can take effect. Also, too many place
branding initiatives are focused on short-term
advertisements, painting aspirational views of the
place, which have virtually no link to the real
experiences of investors, tourists and business
people that interact with it. Place branding takes time
and must involve a well organized, programmatic
approach and long-term buy-in from public and private
sector stakeholders and from the community of the
must have a
clear differentiation of place: no place can (or should)
be everything to everyone, yet many place branding
initiatives attempt just this. Developing a clear brand
image built on sources of sustainable differentiation
and competitive value, and targeted to well-defined
audiences, is critical to effective place branding.
Place branding requires:
- agreement among key stakeholders on a shared
vision of how their place will develop in the future and
what it will offer of value to consumers;
- shared leadership and partnership between these
stakeholders to define and realize their brand strategy;
- a clear understanding of the current de facto brand
of the place among the stakeholders and how it was
formed (i.e. its current offer);
- action to connect the key stakeholders and enable
them to work effectively in partnership;
- "on-brand" actions that are taken by the
stakeholders to demonstrate the brand and bring it
alive, not just communications about it.
- Understanding and commitment to a long-range
Source: Anholt City Brands Index 2007, Bob
Springmeyer, Bonneville Research
Place Branding - International City Rankings
||Overall Score||% Change 06-
Source: Anholt City Brands Index 2007
International Stimulus Spending
|| Stimulus spending so far as a % of GDP
||2009 GDP Forecast % Change|
Source: IMF, Financial Times
|THIS WEEKS LEADS:
- Bealls Outlets and Burke's Outlet Stores
- Bealls, Inc. trades as Bealls Outlets and Burke's
Outlet Stores at 456 locations throughout AL, AR, AZ,
CA, FL, GA, LA, MS, NC, NM, NV, SC, TN and TX.
- The stores, offering discounted apparel and home
goods occupy spaces in strip centers.
opportunities are sought throughout the existing
markets during the coming 18 months.
sites throughout FL are spaces of 20,000 sq.ft. to
25,000 sq.ft. and preferred sites throughout AR, AZ,
CA, GA, LA, MS, NC, NM, NV, SC, TN and TX are in
spaces of 18,000 sq.ft. to 25,000 sq.ft.
leases run five years with three, five-year options.
- A vanilla shell is required.
- Preferred cotenants
include Ross Dress for Less, T.J. Maxx and
- Preferred demographics include a
population of 20,000 within three miles.
competitors include Ross, T.J. Maxx and Marshalls.
- For more information, contact
- Bealls, Inc.,
- 700 13th Avenue East,
- Bradenton, FL 34208;
- Web site:
- The Children's Place
- The Children's Place Retail Stores, Inc. trades as
The Children's Place at 921 locations nationwide and
throughout Puerto Rico and Canada.
- The stores
offer apparel and footwear for children and infants.
- The company prefers to locate in spaces of 4,200
sq.ft. to 4,500 sq.ft. in malls, strip and power centers,
street fronts and downtown areas and in spaces of
5,500 sq.ft. to 6,500 sq.ft. in outlet centers.
opportunities are sought nationwide during the
coming 18 months.
- Typical leases run 10 years.
- Specific improvements are required.
demographics include a population of 300,000 within
10 miles earning $30,000 as the average household
- Major competitors include Gap Kids,
Gymboree and Old Navy.
- For more information, contact
- The Children's Place Retail Stores, Inc.,
- 915 Secaucus Road,
- Secaucus, NJ 07094;
- Web site: www.childrensplace.com.
- Brooks Brothers and Brooks Brothers
- Retail Brand Alliance, Inc. trades as Brooks
Brothers and Brooks Brothers Factory Stores at 200
- The men's apparel stores
occupy spaces of 2,500 sq.ft. to 9,000 sq.ft. in lifestyle
centers, malls and downtown areas.
opportunities are sought nationwide during the
coming 18 months.
- The company prefers to
locate in affluent markets.
- For more information, contact
- Sue Ayers,
- Retail Brand Alliance, Inc.,
- 100 Phoenix
- Enfield, CT 06082
- The Bad Ass Coffee Co
- The Bad Ass Coffee Co. Of Hawaii, Inc. trades as
The Bad Ass Coffee Co. at 65 locations nationwide
- The coffee shops, serving
Kona coffee and branded merchandise, occupy
spaces of 1,500 sq.ft. in endcaps as well as
urban/downtown locations and freestanding locations.
- Growth opportunities are sought throughout the
existing markets during the coming 18 months.
- Typical leases run 10 years.
- The company
prefers sites with drive-thru facilities.
- A vanilla
shell and specific improvements are required.
- Preferred demographics include a population of
50,000 within three miles earning $50,000 as the
average household income.
- Major competitors
- The company is franchising.
For more information, contact
- Harold Hill,
- The Bad Ass Coffee Co.,
- 155 West Malvern,
- Salt Lake City, UT 84115;
- Web site:
|Utah Economic Snapshot
First Eight Months FY2009 YTD
Utah State Government
- Sales and Use Taxes (Gen Gov't, Higher
-$119.45 m -9.9%
- Individual Income Taxes (Public Education)
-$150.69 m -9.8%
- Corporate Franchise Taxes (Gen Gov't)
-$23.4 m -12.5%
- Motor Fuel Taxes (Transportation) -$119.45 m -
- Severance Taxes (Gen Gov't) +$34.87 m +53.8%
- Sales and Use Taxes (includes food) -6.2%
- Transient Room Tax -10.2%
- Tourism, Recreation, Cultural, Convention -1.9%
- Municipal Telecommunications License +3.5%
- Emergency Services Phone Charge +4.0%
- Public Transit -8.7%
Source: Utah State Tax Commission, TC-23
|SOLVING PROBLEMS - CREATING OPPORTUNITIES
Bonneville Research is a regional consulting firm
focused on consulting services to state and local
governments and private companies seeking winning
strategies and achieving impressive results.
Services include economic analysis for
estate development, public-policy analysis,
tourism and economic development
founding in 1976, Bonneville Research has
completed assignments throughout the Intermountain
West yielding unmatched experience in high quality
public policy analysis and economic analysis.
Helping Clients Succeed
Our services include:
- Financial Analysis
- Business License Studies
- Impact Fee analysis
- Urban Renewal & Redevelopment
Analysis and Budgets
- Strategy and Policy Analysis
- Economic and Fiscal Impact Analysis
- Statistical and Survey Research
- Public Sector Mission
Each of our studies is tailored to address
the unique needs of our clients and their communities.
Successful client work requires a
superior team of
outstanding people working fluidly together.
Bonneville Research is the one firm with
the experience and expertise to help
governments and nonprofit organizations
We work to help clients achieve enduring
and improve the communities in which we
If we can help you, please call or email us at: