Worker Shortage Undercuts Economic Growth Expectations
The Bureau of Economic Analysis released its second estimate of GDP growth in the second quarter today. BEA now reports the economy grew 6.6%. Its first estimate was 6.5%.
Why it matters: This was below the expected growth rate of around 8%. The lack of workers throughout the economy explains this undershot.
Forecasters see the economy growing in the third quarter in part because the growth the economy missed last quarter should be shifted.
But: This assumes businesses can hire the workers they need. We anticipate growth near 8%, but the risks to that forecast grow daily. Forecasters have been lowering estimates in recent weeks.
Be smart: Driving lower growth estimates is concern about the delta variant leading to depressed consumer spending. Consumer sentiment tanked in early August.
If more workers come back, vaccinations rise, Delta wanes, we could still see growth exceed declining estimates for this quarter and hit that 8% mark we should’ve hit in the second quarter.
—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce
The Bureau of Economic Analysis released its second estimate of GDP growth in the second quarter today. BEA now reports the economy grew 6.6%. Its first estimate was 6.5%.
Why it matters: This was below the expected growth rate of around 8%. The lack of workers throughout the economy explains this undershot.
Forecasters see the economy growing in the third quarter in part because the growth the economy missed last quarter should be shifted.
But: This assumes businesses can hire the workers they need. We anticipate growth near 8%, but the risks to that forecast grow daily. Forecasters have been lowering estimates in recent weeks.
Be smart: Driving lower growth estimates is concern about the delta variant leading to depressed consumer spending. Consumer sentiment tanked in early August.
If more workers come back, vaccinations rise, Delta wanes, we could still see growth exceed declining estimates for this quarter and hit that 8% mark we should’ve hit in the second quarter.
—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce
Small Business Would Be Hit Hard by Corporate Tax Increase
Congress is considering raising the corporate income tax rate from 21 percent to 28 percent. Many assume that only big businesses will pay this higher rate. That couldn’t be farther from the truth. In fact, over a million small businesses—those “Mom-and-Pop” retailers, small manufacturers, and professional services firms that often suffered the worst during the pandemic—would also see their tax bills increase significantly. In turn, this would have a negative impact on small businesses’ investment and growth plans and, most critically, hiring and job creation.
There are 1.4 million small businesses (those with 500 employees or less) officially organized as C-Corporations, which means they would pay this higher rate. These small businesses employ almost 13 million American workers across various sectors.
1.4 MILLION SMALL BUSINESSES, EMPLOYING ALMOST 13 MILLION AMERICANS, WOULD PAY THE HIGHER TAX RATE
Hardest hit would be the sort of skilled jobs that politicians love to praise, but often in practice, do too little to support. Manufacturing small business C-Corps employ the most workers out of the group (1.8 million workers). Professional, scientific, and technical services are next (employing 1.3 million), followed by retail (employing 1.2 million).
Most C-Corporations are small businesses and many are very small: over 84% of C-corps have fewer than 20 employees. Small business owner, Michael Canty, is the President of Ohio-based Alloy Precision Technologies, a manufacturing company that employs roughly 85 people and is structured as a C-Corp under the federal tax code. His business would be hit hard by the proposed increase under Biden’s tax plan. Canty warned that the proposed tax increase would make companies like his less competitive in the global marketplace.
"We have already started a hiring freeze. Between the tax increase and what we see as a tough regulatory environment, we have to prepare," Canty said.
Furthermore, small businesses organized as C-Corps are spread across all industries. Retail trade (179,000) has the most businesses. This is followed by professional, scientific, and technical services firms (175,000); real estate, rental and leasing (148,000); and construction companies (140,000).
Here’s how C-Corporations breakdown by small business sector:
small_biz_c-corps_blog_post.pngThe Tax Cuts and Jobs Act of 2017 lowered the corporate rate from 35 percent to its current 21 percent level. It helped spur growth and investment by these 1.4 million C-corporation small businesses—allowing them to grow when the time was right and to save up and weather the storm when the pandemic struck.
Many of these small businesses are just now beginning to return to normalcy: According to the latest MetLife & U.S. Chamber of Commerce Small Business Index, 59% of small businesses believe it will take more than six months to return to normal. Suddenly—and substantially—raising their taxes is one sure way to stop the recovery’s momentum dead in its tracks.
This would be the highest corporate tax rate in the industrialized world and would put U.S. businesses (large AND small) at a severe competitive disadvantage with other technologically-advanced and savvy counterparts across the globe. Higher rates on over a million small businesses would suppress wage growth and job creation for American workers—at a time when one of the few things we can all agree on is the need to strengthen the middle class and create more higher-paying jobs here at home.
The strong economic growth and sharp wage increases for the lowest-earning workers prior to the pandemic were proof the lower tax rate was working as envisioned. Small businesses were a key contributor to this growth. Raising the corporate tax rate would undo the progress made and threaten the strong foundations of this recovery. Let’s keep corporate tax rates where they are, so America’s small businesses can continue to prosper and create the growth and jobs this country needs to keep this recovery going.
MORE ARTICLES ON:
ECONOMIC GROWTH, TAXESAbout the AuthorCurtis Dubay
Senior Economist, U.S Chamber of CommerceCurtis Dubay is Senior Economist, Economic Policy Division at the U.S. Chamber of Commerce. He heads the Chamber’s research on the U.S. and global economies.
Congress is considering raising the corporate income tax rate from 21 percent to 28 percent. Many assume that only big businesses will pay this higher rate. That couldn’t be farther from the truth. In fact, over a million small businesses—those “Mom-and-Pop” retailers, small manufacturers, and professional services firms that often suffered the worst during the pandemic—would also see their tax bills increase significantly. In turn, this would have a negative impact on small businesses’ investment and growth plans and, most critically, hiring and job creation.
There are 1.4 million small businesses (those with 500 employees or less) officially organized as C-Corporations, which means they would pay this higher rate. These small businesses employ almost 13 million American workers across various sectors.
1.4 MILLION SMALL BUSINESSES, EMPLOYING ALMOST 13 MILLION AMERICANS, WOULD PAY THE HIGHER TAX RATE
Hardest hit would be the sort of skilled jobs that politicians love to praise, but often in practice, do too little to support. Manufacturing small business C-Corps employ the most workers out of the group (1.8 million workers). Professional, scientific, and technical services are next (employing 1.3 million), followed by retail (employing 1.2 million).
Most C-Corporations are small businesses and many are very small: over 84% of C-corps have fewer than 20 employees. Small business owner, Michael Canty, is the President of Ohio-based Alloy Precision Technologies, a manufacturing company that employs roughly 85 people and is structured as a C-Corp under the federal tax code. His business would be hit hard by the proposed increase under Biden’s tax plan. Canty warned that the proposed tax increase would make companies like his less competitive in the global marketplace.
"We have already started a hiring freeze. Between the tax increase and what we see as a tough regulatory environment, we have to prepare," Canty said.
Furthermore, small businesses organized as C-Corps are spread across all industries. Retail trade (179,000) has the most businesses. This is followed by professional, scientific, and technical services firms (175,000); real estate, rental and leasing (148,000); and construction companies (140,000).
Here’s how C-Corporations breakdown by small business sector:
small_biz_c-corps_blog_post.pngThe Tax Cuts and Jobs Act of 2017 lowered the corporate rate from 35 percent to its current 21 percent level. It helped spur growth and investment by these 1.4 million C-corporation small businesses—allowing them to grow when the time was right and to save up and weather the storm when the pandemic struck.
Many of these small businesses are just now beginning to return to normalcy: According to the latest MetLife & U.S. Chamber of Commerce Small Business Index, 59% of small businesses believe it will take more than six months to return to normal. Suddenly—and substantially—raising their taxes is one sure way to stop the recovery’s momentum dead in its tracks.
This would be the highest corporate tax rate in the industrialized world and would put U.S. businesses (large AND small) at a severe competitive disadvantage with other technologically-advanced and savvy counterparts across the globe. Higher rates on over a million small businesses would suppress wage growth and job creation for American workers—at a time when one of the few things we can all agree on is the need to strengthen the middle class and create more higher-paying jobs here at home.
The strong economic growth and sharp wage increases for the lowest-earning workers prior to the pandemic were proof the lower tax rate was working as envisioned. Small businesses were a key contributor to this growth. Raising the corporate tax rate would undo the progress made and threaten the strong foundations of this recovery. Let’s keep corporate tax rates where they are, so America’s small businesses can continue to prosper and create the growth and jobs this country needs to keep this recovery going.
MORE ARTICLES ON:
ECONOMIC GROWTH, TAXESAbout the AuthorCurtis Dubay
Senior Economist, U.S Chamber of CommerceCurtis Dubay is Senior Economist, Economic Policy Division at the U.S. Chamber of Commerce. He heads the Chamber’s research on the U.S. and global economies.
Starting a Business During a Pandemic
While the pandemic has proved a challenging time for many businesses and consumers, some entrepreneurs have used this time to launch promising new companies. In the first CO— Roadmap for Rebuilding event last week, panelists shared insights on defining an audience, finding a niche, and pitching an idea to potential investors.
Key takeaways:
Watch
While the pandemic has proved a challenging time for many businesses and consumers, some entrepreneurs have used this time to launch promising new companies. In the first CO— Roadmap for Rebuilding event last week, panelists shared insights on defining an audience, finding a niche, and pitching an idea to potential investors.
Key takeaways:
- You can start a business today: Greg Bryon, co-founder of Pasta Packs, started a meal-kit delivery service in March 2020 after his brother lost his job as a sous chef and the two felt they could capitalize on people needing to cook at home.
- What’s your pricing model? “Do you want one, to have high volume and low price, which can prove challenging against the bigger brands of the world, or two, do you want to go low volume with a premium price, which will get you a higher profit?” said Ramon Ray, founder of Smart Hustle Media. “Scissors can be 99 cents, but it’s okay to have scissors that cost $49. It all depends on who you are selling to and what they see as the worth.”
Watch
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Retail Sales Growth Less Than Expected for October
The virus resurgence is starting to show up in the economic data. Earlier this week we saw preliminary consumer sentiment for November tick down. On Tuesday the Census Department released retail sales data for October. Although it showed a sixth straight month of growth, the increase was less than expected and the lowest since the depth of the Great Pause. What happened: Retail sales grew only at 0.3% in October. Analysts were expecting about double that amount. They grew 1.6% in September. The good news is that retails sales are still above their pre-pandemic level. And because they still grew from the previous month, they set another record level. Given the virus remains with us, it is still positive news that retail sales continue to grow, even if they were softer than hoped for. Sales fell for furniture and home stores, food and beverage stores, health and personal care stores, clothing and accessory stores, sporting goods, hobby, music and bookstores, general merchandise stores, miscellaneous stores, and food and drinking places. Sales increased for motor vehicle and parts, electronics and appliance stores, building material and garden stores, and gas stations. The biggest increase was in online sales. They grew by more than $260 billion from September to October. This accounted for most of the growth over the month in total retail sales. Online sales had been declining as a share of total retail sales in recent months after they spiked in April and May. The growth in October drove that share back up to near 16%. It peaked at over 19% in April. What’s next: The continued surge of the virus could cause retail sales to retrench further in November. It’s old hat at this point but remains true: As long as the virus remains at pandemic levels, economic data will bounce around as virus levels rise and fall. Despite that pressure, expectations for a strong holiday sales season remain favorable. Incomes and savings remain strong so consumers have money to spend as we near the end of the year. |
Small Business Optimism Improves.
Seven of the 10 Index components improved, two declined, and one was unchanged. The NFIB Uncertainty Index increased two points in August to 90, the second-highest reading since 2017. The record reading of 100 was reached in November 2016.
The NFIB Optimism Index increased 1.4 points in August to 100.2, a reading slightly above the historical 46-year average. Seven of the 10 Index components improved, two declined, and one was unchanged. The NFIB Uncertainty Index increased two points in August to 90, the second-highest reading since 2017. The record reading of 100 was reached in November 2016.
“Small businesses are working hard to recover from the state shutdowns and effects of COVID-19,” said NFIB Chief Economist Bill Dunkelberg. “We are seeing areas of improvement in the small business economy, as job openings and plans to hire are increasing, but many small businesses are still struggling and are uncertain about what the future will hold.”
Other key findings include:
Read the Full article
Seven of the 10 Index components improved, two declined, and one was unchanged. The NFIB Uncertainty Index increased two points in August to 90, the second-highest reading since 2017. The record reading of 100 was reached in November 2016.
The NFIB Optimism Index increased 1.4 points in August to 100.2, a reading slightly above the historical 46-year average. Seven of the 10 Index components improved, two declined, and one was unchanged. The NFIB Uncertainty Index increased two points in August to 90, the second-highest reading since 2017. The record reading of 100 was reached in November 2016.
“Small businesses are working hard to recover from the state shutdowns and effects of COVID-19,” said NFIB Chief Economist Bill Dunkelberg. “We are seeing areas of improvement in the small business economy, as job openings and plans to hire are increasing, but many small businesses are still struggling and are uncertain about what the future will hold.”
Other key findings include:
- Earnings trends over the past three months improved seven points to a net negative 25% reporting higher earnings.
- Job openings increased three points to 33% of firms with at least one unfilled position.
- The percent of owners thinking it’s a good time to expand increased one point to 12%.
- Real sales expectations in the next three months decreased two points to a net 3%.
Read the Full article
On-Line Retails Sales Spike, But are Coming Down!
COVID-19's Impact on the Evolution of Online Sales
As part of tracking retail sales’ recovery, it continues to be interesting to examine how the COVID-19 shock has affected the evolution of online sales.
In July, in-store retail sales remained the vast majority of all retail sales at 84%. Non-store sales, which are mostly online sales, accounted for the remaining 16% of sales.
The long-term trend has been to online sales, but consumers still do most of their shopping at traditional brick-and-mortar stores. Prior to the pandemic, online sales accounted for around 13% of all sales, but that spiked to over 19% in April at the height of the pandemic as consumers stayed home and ordered more online.
Since April, online sales’ share of all retail sales has fallen for three consecutive months and is now at 15.7%. ( SEE CHART BELOW) That is elevated from pre-pandemic levels, but considerably lower than the April high. The decline was slight in July compared to June.
The question is whether online sales will continue to decline closer to the pre-pandemic level and resume their long-term increase from that level, or whether they will remain elevated and continue to grow. They will continue to grow, but it remains to be seen how large a one-time shift, if any, occurs because of the pandemic.
Why it matters: Aside from being an interesting behavioral change to observe, this shift matters for brick-and-mortar sellers that do not also have an online presence. They could permanently lose customers and see revenues decline. It also matters for the financiers of these retailers if the shift is large enough that the viability of the businesses becomes questionable.
–Curtis Dubay, Senior Economist, U.S. Chamber of Commerce
COVID-19's Impact on the Evolution of Online Sales
As part of tracking retail sales’ recovery, it continues to be interesting to examine how the COVID-19 shock has affected the evolution of online sales.
In July, in-store retail sales remained the vast majority of all retail sales at 84%. Non-store sales, which are mostly online sales, accounted for the remaining 16% of sales.
The long-term trend has been to online sales, but consumers still do most of their shopping at traditional brick-and-mortar stores. Prior to the pandemic, online sales accounted for around 13% of all sales, but that spiked to over 19% in April at the height of the pandemic as consumers stayed home and ordered more online.
Since April, online sales’ share of all retail sales has fallen for three consecutive months and is now at 15.7%. ( SEE CHART BELOW) That is elevated from pre-pandemic levels, but considerably lower than the April high. The decline was slight in July compared to June.
The question is whether online sales will continue to decline closer to the pre-pandemic level and resume their long-term increase from that level, or whether they will remain elevated and continue to grow. They will continue to grow, but it remains to be seen how large a one-time shift, if any, occurs because of the pandemic.
Why it matters: Aside from being an interesting behavioral change to observe, this shift matters for brick-and-mortar sellers that do not also have an online presence. They could permanently lose customers and see revenues decline. It also matters for the financiers of these retailers if the shift is large enough that the viability of the businesses becomes questionable.
–Curtis Dubay, Senior Economist, U.S. Chamber of Commerce
Tiered PPP loan forgiveness is emerging in Republican stimulus bill
As Congress debates a series of sweeping stimulus measures to boost the economy during the pandemic, a multitiered forgiveness process for Paycheck Protection Program loans is gaining steam.
There's been a growing push to automatically forgive smaller PPP loans from the Small Business Administration. And while Senate Republicans have included automatic forgiveness for loans below $150,000 as part of their stimulus proposal introduced Monday, they have also introduced a middle tier of forgiveness requirements for loans between $150,000 and $2 million. For those loans, their proposal only requires businesses to complete a certification and retain relevant records and worksheets for up to three years, though banks would still need to submit a loan forgiveness application to the SBA.
Forgiveness provisions for larger loans would remain the same under the proposal. And the Treasury Department and SBA have said they will audit all loans topping $2 million after a public backlash against some publicly traded companies and larger, well-known private companies that received PPP loans.
Business owners and community stakeholder wishing to help the Chamber impact upcoming legislation should sign up for the Chamber’s ACTION ALERTS . Have a voice!
Tiered PPP loan forgiveness is emerging in Republican stimulus bill
As Congress debates a series of sweeping stimulus measures to boost the economy during the pandemic, a multitiered forgiveness process for Paycheck Protection Program loans is gaining steam.
There's been a growing push to automatically forgive smaller PPP loans from the Small Business Administration. And while Senate Republicans have included automatic forgiveness for loans below $150,000 as part of their stimulus proposal introduced Monday, they have also introduced a middle tier of forgiveness requirements for loans between $150,000 and $2 million. For those loans, their proposal only requires businesses to complete a certification and retain relevant records and worksheets for up to three years, though banks would still need to submit a loan forgiveness application to the SBA.
Forgiveness provisions for larger loans would remain the same under the proposal. And the Treasury Department and SBA have said they will audit all loans topping $2 million after a public backlash against some publicly traded companies and larger, well-known private companies that received PPP loans.
Business owners and community stakeholder wishing to help the Chamber impact upcoming legislation should sign up for the Chamber’s ACTION ALERTS . Have a voice!
Business Openings Start This Week
05/04/2020
The Surprise Regional Chamber of Commerce applauds Governor's Ducey thoughtful, comprehensive approach that manages to achieve that delicate balance of recognizing that businesses have to start resuming operations while doing so in the safest way possible for employees, as well as customers.
Under an Executive Order signed Wednesday, starting TODAY, retail businesses can sell goods through delivery service, window service, walk-up service, drive-through service, drive-up service, curbside delivery or appointment provided they establish and implement sanitation and physical distancing measures.
On Friday, May 8, businesses can resume partial openings that incorporate social distancing and sanitation measures established by the United States Department of Labor or the Arizona Department of Health Services.
In addition, the Governor announced this week a goal to resume dine-in services at restaurants in May. Arizona retail guidelines can be found HERE and general guidance see OSHA guidance on preparing and opening workplaces
05/04/2020
The Surprise Regional Chamber of Commerce applauds Governor's Ducey thoughtful, comprehensive approach that manages to achieve that delicate balance of recognizing that businesses have to start resuming operations while doing so in the safest way possible for employees, as well as customers.
Under an Executive Order signed Wednesday, starting TODAY, retail businesses can sell goods through delivery service, window service, walk-up service, drive-through service, drive-up service, curbside delivery or appointment provided they establish and implement sanitation and physical distancing measures.
On Friday, May 8, businesses can resume partial openings that incorporate social distancing and sanitation measures established by the United States Department of Labor or the Arizona Department of Health Services.
In addition, the Governor announced this week a goal to resume dine-in services at restaurants in May. Arizona retail guidelines can be found HERE and general guidance see OSHA guidance on preparing and opening workplaces
CE0 Promise: Your Membership Will Not Lapse!
As the pace of economic change continues to accelerate, transforming the way we work and conduct business at a breathtaking pace. We are still here for you. The Chamber will work with every business so that they can remain a member.
Daily, the Surprise Regional Chamber is meeting with elected officials, the SBA, the US Chamber and others to make sure your business needs and are addressed and not forgotten. Everything from our shop local programs to our TCS system that helps businesses get found more often on local internet searches are designed to boost your business and drive economic development.
The Chamber is confident that there will be an extraordinary opportunity for growth and job creation once the crisis is over, and keeping all business engaged in our work is paramount. Through our events, programs, and services have been impacted; you can take comfort in knowing the Chamber is working diligently on behalf of your business.
Take pride in knowing we are the VOICE in the business community, and this function is more critical that ever! The Chamber works to represent companies of all sizes by influencing the public policies that will impact your business. This is the true value of your Chamber membership, and why you often hear me say that meeting attendance is never required to receive benefits from this Chamber.
Sincerely,
Raoul
Raoul Sada, MPA
President and CEO
Serving the Business Communities of El Mirage, Sun City, Sun City West, Surprise, Waddell, and Youngtown
Helpful Links:
- Coronia Virus Resources | Response | Impact
- Donate Now
- Advocacy Activities
- Join the Chamber
- Join our Email List
03/04/2020
2020 Legislative Session
Each year, the Surprise Regional Chamber of Commerce makes it clear what our business community expects from their elected officials... economic growth. We emphasize again our core principles of free enterprise. And that removing obstacles to job creation and economic growth is paramount.
This year we are supporting a wide variety of bills like the continuation micro-loans for small businesses, workforce development/education bills to ensure a future pipe life of trained workers, and a host of infrastructure projects to help drive long term growth and competitiveness.
Click Here: If You Have a Concern or Issue That Needs Addressing
The following is a partial list of bills on the Chamber radar:
Improving Transportation and Infrastructure
Most businesses agree that our roads, bridges, mass transit systems, and air infrastructure are critical community assets that drive growth, jobs, safety, and global competitiveness.
S1101 – Appropriation; North Loop Interchange: For
S1156 – Appropriation; Interstate 10; Reconstruction: For
S1157 – Appropriation; State Route 101: For
S1158 – Appropriation; Widening; Interstate 17: For
Workforce Development & Education
A more robust education system provides you with better trained and qualified workers. Education is crucial to preparing people for good jobs and bright futures and sustaining a 21st-century workforce that can compete in the global economy. Our Chamber survey shows that most businesses have worker shortages, and most are having a hard time finding workers with the right skills.
H2152 – Appropriation; STEM Learning; Workforce Development: For
H2741 – CTEDS; Fourth-Year Funding: For
H2387 – Continuing High School Program: For
H2390 – Community Colleges; Districts; Workforce Development: For
S1166 – Appropriation; STEM Internships: For
S1403 – Fourth-Year Funding; CTEDS: For
S1166 – Appropriation; STEM Internships: For
S1403 – Fourth-Year Funding; CTEDS: For
Regulatory Reform and Business Friendly Rules
The Chamber recognizes the need for smart regulations to ensure workplace safety and protect public health. But often, these regulations are burdensome, and price tag in compliance costs increases every year. As the number and complexity of the rules increase each year, it’s clear the regulatory system isn’t working the way it should. Rules and regulations must consider the views of communities and businesses, carefully evaluate the impact rules will have on jobs and small businesses, and protects our economic and personal freedoms.
H2404 – TPT; Prime Contracting; Exemptions; Certificates: For
H2409 – Small Business Investment Credit; Extension: For
H2355 – Charitable Contribution; Deduction; Inflation Adjustment: For
H2356 – Charitable Contributions; Deduction; Increase: For
S1630 – Micro Business Loans; Commerce Authority: For
S1457 – DOR; E-Commerce Compliance Officer: For
S1630 – Micro Business Loans; Commerce Authority: For
Energy & Utilities
Arizona is in the midst of a real energy revolution. After decades of fear over potential energy scarcity, we are now in an era of energy abundance, driven by technological innovation and American know-how. But will we have the wisdom to capitalize on this opportunity? If we develop smart policies, we can use affordable and abundant energy to launch a manufacturing revival, based on a variety of energy resources that ultimately increases household spending power, and revitalize’ s our economy.
S1222 – Building Permits; Utilities; Restrictions; Prohibitions: For
H2674 – Water; Substitute Acreage: For
H2675 – Water Conservation Notice; No Abandonment: For
H2677 – Groundwater Replenishment Reserves: For
2020 Legislative Session
Each year, the Surprise Regional Chamber of Commerce makes it clear what our business community expects from their elected officials... economic growth. We emphasize again our core principles of free enterprise. And that removing obstacles to job creation and economic growth is paramount.
This year we are supporting a wide variety of bills like the continuation micro-loans for small businesses, workforce development/education bills to ensure a future pipe life of trained workers, and a host of infrastructure projects to help drive long term growth and competitiveness.
Click Here: If You Have a Concern or Issue That Needs Addressing
The following is a partial list of bills on the Chamber radar:
Improving Transportation and Infrastructure
Most businesses agree that our roads, bridges, mass transit systems, and air infrastructure are critical community assets that drive growth, jobs, safety, and global competitiveness.
S1101 – Appropriation; North Loop Interchange: For
S1156 – Appropriation; Interstate 10; Reconstruction: For
S1157 – Appropriation; State Route 101: For
S1158 – Appropriation; Widening; Interstate 17: For
Workforce Development & Education
A more robust education system provides you with better trained and qualified workers. Education is crucial to preparing people for good jobs and bright futures and sustaining a 21st-century workforce that can compete in the global economy. Our Chamber survey shows that most businesses have worker shortages, and most are having a hard time finding workers with the right skills.
H2152 – Appropriation; STEM Learning; Workforce Development: For
H2741 – CTEDS; Fourth-Year Funding: For
H2387 – Continuing High School Program: For
H2390 – Community Colleges; Districts; Workforce Development: For
S1166 – Appropriation; STEM Internships: For
S1403 – Fourth-Year Funding; CTEDS: For
S1166 – Appropriation; STEM Internships: For
S1403 – Fourth-Year Funding; CTEDS: For
Regulatory Reform and Business Friendly Rules
The Chamber recognizes the need for smart regulations to ensure workplace safety and protect public health. But often, these regulations are burdensome, and price tag in compliance costs increases every year. As the number and complexity of the rules increase each year, it’s clear the regulatory system isn’t working the way it should. Rules and regulations must consider the views of communities and businesses, carefully evaluate the impact rules will have on jobs and small businesses, and protects our economic and personal freedoms.
H2404 – TPT; Prime Contracting; Exemptions; Certificates: For
H2409 – Small Business Investment Credit; Extension: For
H2355 – Charitable Contribution; Deduction; Inflation Adjustment: For
H2356 – Charitable Contributions; Deduction; Increase: For
S1630 – Micro Business Loans; Commerce Authority: For
S1457 – DOR; E-Commerce Compliance Officer: For
S1630 – Micro Business Loans; Commerce Authority: For
Energy & Utilities
Arizona is in the midst of a real energy revolution. After decades of fear over potential energy scarcity, we are now in an era of energy abundance, driven by technological innovation and American know-how. But will we have the wisdom to capitalize on this opportunity? If we develop smart policies, we can use affordable and abundant energy to launch a manufacturing revival, based on a variety of energy resources that ultimately increases household spending power, and revitalize’ s our economy.
S1222 – Building Permits; Utilities; Restrictions; Prohibitions: For
H2674 – Water; Substitute Acreage: For
H2675 – Water Conservation Notice; No Abandonment: For
H2677 – Groundwater Replenishment Reserves: For
Feb. 2020
Restaurants, Businesses Line Up Behind Bill To Preserve Access To Natural Gas
Companion bills introduced by state legislative leaders to safeguard businesses’ and homeowners’ access to natural gas are receiving strong support from Arizona’s restaurant industry, the business community, manufacturers, and organizations that assist low-income residents. Both Arizona House and Senate leaders are sponsoring bills to prevent communities from banning the use of gas in housing and commercial development projects.
The legislation will “reinforce” Arizona’s ability to regulate its own energy policy, said House Speaker Rusty Bowers, who testified in support of HB 2686 last week before the House Natural Resources, Energy, and Water Committee. The legislation is in response to a growing number of cities in states like California that are banning natural gas, Bowers said at the hearing. A sister bill in the Senate, SB 1222, is sponsored by Senate President Karen Fann. Both bills have passed their respective committees.
Supporters of the bill who testified at the hearing said it would protect business owners’ and homeowners’ ability to determine what mix of energy sources work best for them.
For more information and source citation Click Here
Restaurants, Businesses Line Up Behind Bill To Preserve Access To Natural Gas
Companion bills introduced by state legislative leaders to safeguard businesses’ and homeowners’ access to natural gas are receiving strong support from Arizona’s restaurant industry, the business community, manufacturers, and organizations that assist low-income residents. Both Arizona House and Senate leaders are sponsoring bills to prevent communities from banning the use of gas in housing and commercial development projects.
The legislation will “reinforce” Arizona’s ability to regulate its own energy policy, said House Speaker Rusty Bowers, who testified in support of HB 2686 last week before the House Natural Resources, Energy, and Water Committee. The legislation is in response to a growing number of cities in states like California that are banning natural gas, Bowers said at the hearing. A sister bill in the Senate, SB 1222, is sponsored by Senate President Karen Fann. Both bills have passed their respective committees.
Supporters of the bill who testified at the hearing said it would protect business owners’ and homeowners’ ability to determine what mix of energy sources work best for them.
For more information and source citation Click Here
Jan. 2020
LOCAL POLICY AGENDA SET FOR NW VALLEY CITIES
The Surprise Regional Chamber of Commerce board of directors approved its 2020 Local Government Policy Agenda and priorities for the region (El Mirage, Sun City, Sun City West, Surprise, Waddell and Youngtown.) The policies addressed in the agenda were strategically chosen based on a combination of the Chamber’s State Legislative Agenda, the board of directors, and feedback from the local business community. The Chamber’s priorities represent and advocate for what citizens and business community have asked for and continue to request, and that is building a healthy and vibrant community by ensuring an environment where business can prosper.
Click Here for the Chamber Local Government Policy Agenda
Chamber1
TAKE THE SURVEY NOW
2020 Business Climate Census Survey
Many in our business community are experiencing both challenges and successes as our economy grows. As we work to secure the NW Valley's future, it is crucial that the Surprise Regional Chamber of Commerce understand what issues are most important to businesses. The purpose of the Business Climate Survey is to track trends and issues affecting businesses and to inform elected officials about the issues and concerns of the local business community.
Click Here Now, To Take Our Annual Business Climate Survey
2020 Business Climate Census Survey
Many in our business community are experiencing both challenges and successes as our economy grows. As we work to secure the NW Valley's future, it is crucial that the Surprise Regional Chamber of Commerce understand what issues are most important to businesses. The purpose of the Business Climate Survey is to track trends and issues affecting businesses and to inform elected officials about the issues and concerns of the local business community.
Click Here Now, To Take Our Annual Business Climate Survey
