Monday Report
Place Branding II - Country Rankings March 23rd, 2009


Utah Economic Snapshot

The Future is Bright for Good Malls


  • Global Business Confidence -28.1%
  • Businesses remain darkly pessimistic across the globe. Sentiment hit a new record low in Asia last week and is close to record lows everywhere else. Hiring intentions have taken a decided turn for the worse in recent weeks and suggest that there has been no letup in the massive global layoffs and rising unemployment in March. Pricing also remains very weak as close to one-third of businesses now say they are cutting prices for their goods and services. Confidence is very poor across all industries, particularly in manufacturing, where it has never been as bleak.
  • International Trade (FT900) -$36.0 b
  • The U.S. trade deficit narrowed to $36 billion in January. Moody's had expected a slightly greater narrowing to $35.2 billion. This marks the sixth straight month of declining gross exports and gross imports and the sixth straight month of narrowing trade deficits.
  • Import and Export Prices -0.2%
  • The decline in import prices is moderating. Import prices fell 0.2% in February, following January's revised -1.2% (previously -1.1%). The decline was on par with expectations and puts import prices down 12.8% on a year-ago basis. Export prices fell 0.1% after posting a 0.5% increase the previous month. With large declines in energy prices likely behind us, import prices should begin to level off. Some import price inflation is welcome, as the Federal Reserve is attempting to steer the economy away from deflation.
  • Current Account -$132.8 b
  • The U.S. current account deficit narrowed by 26.8% to $132.8 billion in the fourth quarter of 2008, compared with the revised third quarter deficit of $181.3 billion. Moody's had expected a smaller narrowing of $137.4 billion. The deficit on goods narrowed to $174.1 billion, while the surplus on services narrowed to $33.7 billion
  • The Conference Board Leading Indicators -0.4%
  • The Conference Board index of leading indicators declined 0.4% in February. The decline was less than expected because of downward revisions to both December and January. The decline in the index was led by a plunge in stock prices and consumer confidence. Real GDP is expected to decline 5.5% at an annual rate in the first quarter but the economy should begin to expand sometime late this year
  • Consumer Price Index +0.4%
  • The top-line urban consumer price index increased by 0.4% from January to February, and increased by 0.1% from February 2008. The core urban CPI increased by 0.2% in February compared with the previous month, with the seasonally adjusted value up by 1.8% compared with one year ago. Inflation remains very low amid subdued economic activity, though it continues to avoid negative territory.
  • Jobless Claims -12 K
  • Initial jobless claims declined 12,000 to 646,000 for the week ending March 14. Despite the unexpected decline, the four-week moving average rose to 654,750 from 651,000 the previous week. Continuing claims increased 185,000 to reach 5.473 million for the week ending March 7. Although the modest decline in initial claims is encouraging, the labor market remains in disarray
  • New Residential Construction (C20) +22%
  • Housing starts were up surprisingly strongly in February, rising by 22% from January to 583,000 annualized units. The volatile multifamily market is driving the magnitude of February's gain. The housing market may be thawing, but this month's gain only brings the pace of total starts back up to that of December. Activity remains quite soft. The Homeownership Affordability Plan gives hope that the market may slowly heal.
  • MBA Mortgage Applications Survey +21.2%
  • In the week ending March 6, the MBA market index increased 21.2% to 876.9, the second week of a double percentage-point increase. Similarly, both parts of the composite also increased. The refinance index increased 29.6% this week, finishing at 4,497.6. The purchase index ended at 257.1, up 1.5%.
  • Chain Store Sales -0.1%
  • Chain store sales fell 0.1% in the week ending March 14, the second consecutive week with little change in sales. However, the year-ago decline worsened to 1.4%, the largest decline in five weeks. The bottom line remains falling same-store sales, a sign of restrained spending.
  • Oil and Gas Inventories +353.3 mb
  • Crude oil inventories rose by 2 million barrels during the week ending March 13, according to the Energy Information Administration, above expectations of a 1.5 million barrel buildup. Gasoline inventories rose by 3.2 million barrels, far exceeding the consensus estimate of a decline of 1.5 million barrels. Distillate inventories rose by 100,000 barrels, less than expected. Refinery operating capacity fell to 82.1% from 82.7%. Total domestic petroleum demand fell. This report will cause oil prices to fall.
  • Weekly Natural Gas Storage Report -30 bvf
  • Working gas in underground storage decreased by 30 billion cubic feet during the week ending March 13. The consensus estimate was for a decline of 28 billion cubic feet.

Public Policy Initiatives

  • MO - Nixon Partners to Expand Health Care for Uninsured.The Missouri Hospital Association and Gov. Jay Nixon announced a proposal to expand health care to almost 35,000 additional uninsured parents. MHA would contribute an extra $52.5 million a year from funds Missouri hospitals currently receive for providing uncompensated care to uninsured patients. This would enable the state to draw $93 million more in matching federal money, Nixon's office said. Nixon touted the proposal as one that doesn't require any additional tax dollars. http://www.bizjournals.comly4.html
  • OH - Strickland Supports Transparency, Digital Accountability.Gov. Ted Strickland supports moving more information online. "Citizens are the ultimate decision-makers in a democracy, and it's difficult for them to make informed decisions without access to information," he said. Ohio is moving toward transparency and digital government accountability by making more public records available online. Ohioans can go online for information on highway projects, school test scores, political contributions, state audits, teacher certification, disciplinary action against doctors and lawyers, and other records. http://dispatch.comhtml? sid=101
  • IA - Culver Launches Economic Recovery Website.Gov. Chet Culver announces the launch of Recovery.Iowa.Gov, a website on what the American Recovery and Reinvestment Act will mean to Iowans. Iowa is estimated to receive approximately $1.9 billion in one-time direct assistance from President Obama's federal economic recovery initiative. "As Governor, I am committed to making sure our state makes full use of the federal economic recovery program in order to benefit all Iowans," said Gov. Culver. "This website is one tool to help Iowans learn about the benefit of this important program, track the work underway to make the best use of these funds, and provide accountability and transparency about this important effort."
  • NJ - Corzine Announces Education Grant Availability.Gov. Jon Corzine visited Washington School, one of hundreds of schools throughout the state that are near or exceed 100 years old. Corzine plans to upgrade them to not only provide a better learning environment but also help serve as a job generator at a time when the construction industry is seeing massive unemployment rates due to the downturn in the economy. Corzine used this tour to announce that more than 130 New Jersey school districts are eligible to receive approximately $180 million for capital maintenance and construction projects under the first round of School Development Authority district grant allocations. http://hudsonreporter.comcolumn&open=&
  • NH - Lynch Encourages Businesses, Nonprofits, Communities to Apply for Summer Jobs Grants.Gov. John Lynch is encouraging New Hampshire businesses, nonprofits and municipalities to apply for $2.9 million in youth summer jobs grants through the American Recovery and Reinvestment Act. Lynch says the grants will provide opportunities for many young people, can help communities meet critical needs - and they're an example of recovery funds can be used in New Hampshire to create jobs.


  • Denny's
  • Denny's, Inc. trades as Denny's at 1,500 locations nationwide and internationally.
  • The restaurants occupy spaces of 3,900 sq.ft. to 5,500 sq.ft. in freestanding locations, power and strip centers.
  • Growth opportunities are sought throughout the Midwestern and northern regions of the U.S. during the coming 18 months. T
  • ypical leases run 20 years.
  • For more information, contact
    • Glen Martin,
    • Denny's, Inc.,
    • Web site:
  • Dickey's Barbeque Pit
  • Dickey's Barbeque Pit operates 84 locations throughout CA, CO, MS, NC, NJ, NM, OR, TN, TX and Canada.
  • The restaurants occupy spaces of 2,000 sq.ft. in endcaps.
  • Growth opportunities are sought nationwide during the coming 18 months.
  • Typical leases run 10 years with two, five-year options.
  • Preferred demographics include a population of 50,000 within three miles earning $70,000 as the average household income.
  • For more information, contact
    • Cullen Dickey,
    • Dickey's Barbeque Pit,
    • 4514 Cole Avenue, Suite 1100,
    • Dallas, TX 75205;
    • Web site:


Economic Development Grants from the Stimulus Bill!

Economic Development Assistance American Recovery Program

  • POSTED: 3/10/2009
  • ELIGIBILITY: Public agencies (including cities), CAP agencies, nonprofits, IHEs and Indian tribes
  • $ AVAILABLE: $150,000,000
  • DEADLINE: Rolling
  • DESCRIPTION: Funding to plan and/or implement a wide variety of economic development projects, including community
  • facilities and infrastructure, in economically distressed communities.


  • Place Branding II
    • What is it?
    • How do we rank?
    • How do you build a winning brand?
    • Are your employees "brand ambassadors"?
  • Public Policy Initiatives
  • Do malls have a future?
  • Economic Notes
  • Grants
  • This Weeks Leads

  • Place Branding

    Last week we presented the following information on Place Branding:

    • Place brandingis 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.
    • Place brandingfocuses on delivering an exceptional and authentic experience that is memorable and emotional.
    • Place brandingis 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, built upon
    • Place brandingalso reflects the public policy of a community and must effectively communicate and create that unique destination experience to the customer.
    • Place brandingis often 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.

    How will you know that your "Place Brand" is winning?

    • Your brand's external messages 'ring true' with both residents and employees.
    • Your residents and employees are enthusiastic and consistent in recounting what makes your brand special and they are proud to be your "brand ambassadors".
    • Your market share is increasing.
    • Competitors always mention your brand as a point of reference.
    • Media uses your brand frequently in news stories.
    • Your Mayor, Commissioner, or Governor has a strong vision for your organization and your brand. He or she talks more about that vision than financial targets.
    • Your Council, Commission, or Legislative leaders proudly 'talk the brand' and 'walk the brand talk.'

      How many of the following are "Winning Place Brands"?

      Can you name a "Winning Place Brand"?

      • Sandy
      • Holladay
      • Avenues
      • Ogden
      • North Salt Lake
      • Glendale
      • Millcreek

      Source: Anholt City Brands Index 2007, Matthew Healey, Graphic Designer, Bob Springmeyer, Bonneville Research

    • Place Branding - Country Rankings 2007


      RankCountry Overall Score
      1Germany 127.8
      2UK 127.1
      3Canada 126.8
      4France 126.5
      5Australia 124.5
      6Italy 124.2
      7Switzerland 124.1
      8Japan 123.9
      9Sweden 123.5
      10US 122.0
      11Netherlands 119.7
      12Norway 127.8
      13Denmark 118.9
      14Spain 118.8
      15Scotland 118.3
      16New Zealand 118.1
      17Finland 117.3
      18Ireland 116.2
      19Belgium 115.2
      20Wales 114.5
      21Portugal 114.4
      22Brazil 107.7
      23Russia 105.7
      24China 1105.2
      25Singapore 104.5
      26India 103.3
      27Mexico 103.2
      28Poland 102.5
      29Egypt 102.1
      30South Korea 101.6
      31South Africa 98.3
      32Malaysia 98.0
      33Turkey 96.9
      34Estonia 96.0
      35Lithuania 95.7
      36Latvia 95.5

      Source: Anholt Country Brands Index 2007

    • Utah Economic Snapshot
    • First Eight Months FY2009 YTD

      Utah State Government

      • Sales and Use Taxes (Gen Gov't, Higher Education) -$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 - 7.6%
      • Severance Taxes (Gen Gov't) +$34.87 m +53.8%

        Local Government

      • 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 3/12/09

    • The Future is Bright for Good Malls
    • Future bright for good malls,Simon Property CEO says

      In spite of the severity of the recession, retail malls are here to stay, says Simon Property Group CEO David Simon. "The strong retail will get stronger" in the future, he said, with poorly managed, designed or located malls going out of business much more quickly than in the past.

      Source: Knowledge@Wharton, 3/18/09


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