Lincoln’s economic status continues on an upward trend and quite frankly, there is no better time to be in Lincoln, Nebraska.
I am confident in that statement because each year we validate our positive outlook with facts and figures from one of the State’s leading economists and with feedback from local business owners. The date we compile forms our annual Business Conditions and Indicators Report.
The Business Conditions section of the report is the compilation of data obtained through visits and interviews with Lincoln primary employers. The second section of the report is the Annual Business Indicators section prepared by Dr. Eric Thompson of the UNL Bureau of Business Research. The report examines both the recent and longer-term trends in the local economy in 2013, as well as the last decade for aggregate indicators.
We time the release of the report with our annual Economic Development Breakfast, which we held in June. The 2014 report reaffirms our assertion that Lincoln is one of the best places in the nation to do business.
You can view the full report by visiting the Lincoln Partnership for Economic Development’s website at www.selectlincoln.org.
A few of the numbers that stand out from the surveys:
• Various measures point to businesses meeting or exceeding pre-recession production
• Totals sales, market share, and international sales are increasing
• Product lines are expected to expand
• Private investment in research and development is expected to stay the same
• 58% of those surveyed plan to expand, renovate, or re-invest in the next three years
• Plans call for $122M investment and roughly 800 jobs
• Top Strength of the Community
• Worker quality – 76%
• Top Weakness
• Skilled worker availability – 38%
• Best Business Condition
• Strong employee work ethic
• Strong educational system
• Conditions That Need Improving
• Transportation
• Community infrastructure
• Taxes
The report is designed to serve only as a point of reference for our community; a kind of yearly report card if you will regarding the perceptions of doing business in Lincoln. We underwrite the report to help elected officials shape policies that allow businesses to be more competitive with their peers across the country. And as we all know, in today’s hyper-competitive, technologically-advanced, global marketplace, staying ahead of the competition means staying in business.
by Wendy Birdsall, President
Lincoln Chamber of Commerce
402-436-2350
The Chamber’s mission is to improve the lives of Lincoln residents by providing increased economic opportunity and can only be accomplished together. Networking opportunities, business advocacy, and creating economic viability are critical to our success. We encourage you to become a member and help us achieve these goals for Lincoln. For more information, please contact our Membership Director, Kristin Holmes, kholmes@lcoc.com.