Economic Update: Labor Shortages and Productivity
By Dr. Uric Dufrene, Sanders Chair in Business and Professor of Finance, Indiana University Southeast
Several recent economic releases point to an economy that continues to grow at a brisk rate. The one that really stands out from last week is new claims for unemployment. The latest data on unemployment claims show that national initial claims declined by almost 200,000 in one week. New claims came in at 576,000, clearly the lowest level since the shutdowns of last year. Pre-pandemic claims (early 2020) were in the low 200,000 range, and you must go way back to the late 60s to find initial claims for unemployment lower than 200,000. Keep in mind also that the labor force in the late 1960s was about half the size of the labor force of today.
We can see the labor crunch through some of these numbers. The nation’s labor force hit a trough in April of last year. As some states began to reopen, it climbed in a V-shape fashion until July of last year. Since last July, the size of the nation’s labor force has been stuck around 160 million, plus or minus. As initial unemployment claims continue to decline, and we see robust growth in monthly payroll gains, the labor crunch will only intensify if labor force numbers remain flat.
Last week, industrial production registered the first positive year over year change since August of 2019. How can we be producing more, but with a labor force that has been flat since last July? Employee productivity is the reason. In April of last year, the nation saw the largest increase in productivity since the 1940s! Remember that April was the month that we started seeing massive layoffs. Production did not completely come to a halt in April. Many manufacturers continued to produce and found a way to produce more with fewer employees. We are now about a year past the first economic shutdowns of last year, and some manufacturers are producing more today than a year ago (remember industrial production above). However, the labor force is stuck.
The combination of more production and a stagnant labor force means that employers may begin to see higher wage demands. Employers may be forced to increase wages to attract labor necessary to boost production. Or you could see continued gains to productivity. Employers will need to invest in labor-saving equipment and the nation will see an acceleration toward pre-pandemic trends of more automation. Higher productivity alone implies that wages should also increase. We see this play out in the data. Last year saw the highest jump in average weekly wages since the 1960s, as far back as available in the database!
Let’s see how this is playing out at the local level. Louisville Metro labor force reached a pre-pandemic high of around 685,000 in July 2018 and 2019. Due to seasonality, regional labor force peaks in July of each year. Since August of last year, the labor force for Louisville Metro has been stuck around the 650,000 level. Burning Glass data show that the number of job postings over the past 3 months is about 7,000 higher from August to October of 2020. We know that the unemployment rate is declining as the number of employed continues to increase. This mismatch between labor demand, as evidenced by the increase in job postings, and labor supply, as evidenced by a flat change in labor force, will make it increasingly difficult to find employees.
Moving forward, we will see ongoing challenges surrounding labor force availability. Putting my futuristic hat on for a moment, this will likely accelerate moves to more automation and labor-saving innovations. Productivity will increase even further. Productivity gains also occur with higher skilled employees, and the importance of talent will only intensify as we exit the Covid economy.
Stites & Harbison Increases Rank on ABA Health Law Section’s Regional Top 10 List for 2020
LOUISVILLE, Ky. (April 13, 2021)—The American Bar Association (ABA) Health Law Section has ranked Stites & Harbison, PLLC in 6th place in its Eighth Annual Regional Law Firm Recognition List for the South region for 2020. The firm improved its ranking by one spot over the previous year’s listing, now having been honored seven consecutive times to the Top 10 list. Stites & Harbison’s Health Care Practice Group draws on the firm’s many years of experience to assist professionals, providers and suppliers in all aspects of the expanding health care industry.
The regional Top 10 listing is based on the numbers of members in the ABA Health Law Section in 2020. The regions include: South, Southeast and DC, Midwest, Northeast and West.
The Health Law Section is the voice of the national health law bar within the ABA. Its mission is to lead the national discussion on pertinent health law issues.
About Stites & Harbison
Stites & Harbison, PLLC is a nationally recognized, full-service law firm. With 10 offices across five states — Kentucky, Georgia, Indiana, Tennessee and Virginia — the firm represents clients across the United States and internationally. Tracing its origins to 1832, Stites & Harbison is known as a preeminent firm managing sophisticated transactions, challenging litigation and complex regulatory matters on a daily basis. For more information, visit www.stites.com.
Speaker Line-up Finalized for May 13th Best of Leadership Summit
For Immediate Release
SPEAKER LINE-UP FINALIZED FOR MAY 13th BEST OF LEADERSHIP SUMMIT
Registration now open for the virtual event
Louisville, Kentucky (March 25, 2021) – National and global thought leaders will be featured at the Leadership Louisville Center’s annual Best of Leadership Summit on May 13, 2021, its signature event focused on inspiring and equipping leaders at all levels to be better and do better. Presented by sponsor PNC Bank, the annual day of learning will be delivered as a virtual event experience, with live speakers and interactive sessions throughout the day. Each year, this day for learning and growth brings the most relevant and leading-edge content from global leadership experts. Speakers include:
- Kevin Hochman: President of KFC U.S. and Interim President of the Pizza Hut U.S. divisions, with more than 10,000 restaurants across the United States and more than $10 billion in retail sales combined. His focus on customers, innovation, and brand experience played a critical role in KFC’s brand turnaround. Kevin will share the importance of authentic leadership in building consumer brands and your personal brand.
- Marsha Ellis Jones: Executive VP & Chief Diversity Officer for PNC Financial Services Group, will share the business case for diversity and the positive impact that inclusive cultures have on corporate innovation. She will be joined by the co-chairs of IncLOUsion, an employee resource group (ERG) advisory council with representatives from a diverse set of employers in Louisville.
- Minda Harts: Award-winning author, CEO of The Memo LLC, and professor at NYU Wagner. Called “One of the top 12 speakers who will inspire you” by Thrive Global. Minda’s topic “How to Humanize the Workforce,” will cover why intentional relationship-building is critical to advancing equity, inclusion, and belonging in teams and across organizations.
- Dr. Marshall Goldsmith: A best-selling author ranked as the World’s #1 Executive Coach. Chosen as the inaugural winner of Harvard’s Lifetime Award for Leadership. Dr. Goldsmith’s session titled, “The Earned Life,” will offer practical tools you can use to earn the life you want to live.
- Lucy Helm: Newly retired EVP and Chief Partner Officer of Starbucks Coffee Company who led the human resources and leadership development functions for hundreds of thousands of Starbucks employees around the globe. Lucy’s topic, “The Power of Human Connection: Strengthening Organizational Culture in Uncertain Times,” will include how the company adapted quickly during the pandemic and embraced the best of the new normal.
- Ruchika Tulshyan: Author of The Diversity Advantage: Fixing Gender Inequality in the Workplace, and a regular contributor to the Harvard Business Review. Ruchika will share the strategic actions of top leaders in the world’s most innovation organizations, offering a deeper understanding of your role in shaping a workplace where everyone belongs.
- Chef Edward Lee & Lindsey Ofcacek: Chef Edward Lee is a celebrated American chef and Executive Director of the LEE (Let’s Empower Employment) Initiative who will be joined by the Co-founder and Director of the LEE Initiative, Lindsey Ofcacek, for a live cooking demo and the story behind their innovative women’s chef program.
- Raven Solomon: Author and Founder, Charlotte-based Center for Next Generation Leadership and Professional Development, Raven aims to create cross-generational synergy that drives results. Her session will take leaders on an in-depth journey to fully understand not just the generational differences that exist amidst their team, but why these differences exist and how they can be leveraged to create cross-generational synergy that drives results.
- A Broadway Evening – with stars of Come From Away, a new Broadway musical: This feel-good closing session will feature a sneak preview of the Tony Award-winning Broadway production Come From Away. Captain Beverley Bass, the first female captain of an American Airlines commercial plane, who piloted and landed in Gander, Newfoundland, when the September 11, 2001 terror attacks occurred, and Broadway actress, Jenn Colella, who stars as Beverley in Come From Away.
Registration is now open for individuals and groups at www.bestsummit.org. Individual tickets are $350, with discounts available for groups. Sponsorships and special group rates are available by contacting Jennifer Stevens, jstevens@leadershiplouisville.org.
SPECIAL THANKS TO OUR CURRENT EVENT SPONSORS:
Presenting Sponsor PNC Bank; Speaker Sponsor Humana;
Gold Sponsors EY and Farm Credit Mid-America;
Silver Sponsors Business First of Louisville; The Lane Report; and Louisville Public Media
Bronze Sponsors Archdiocese of Louisville; DDW The Color House; GE Appliances, a Haier company; Hardscuffle, Inc.; MCM CPAs & Advisors; MPI Printing; Northwestern Mutual; OvareGroup; Samtec; University of Louisville College of Business; and WAVE 3 News.
THE BEST OF LEADERSHIP SUMMIT is for leaders at all levels. While not in-person this year, the Best of Leadership Summit will continue to offer inspiring, actionable learning from incredible thought leaders. The platform will allow attendees to actively engage with other attendees and speakers in the live virtual sessions, as well as access content after the event. The content for day of learning is designed to:
- Build organizations that are more innovative, more profitable, and more adept at building high-performance teams.
- Gain deeper knowledge around inclusive leadership, creating psychological safety, and leading successful change.
- Grow your ability to create a sense of belonging and achieve great results in our new normal.
WHO ATTENDS: The hundreds of attendees from past events represent the top leadership from Louisville and surrounding region, ranging from high-potential emerging leaders to C-suite executives, with over 70% working at a director level or above. The virtual event will expand attendance, welcoming participants from across the country. Over 180 different companies and organizations attended last year, and industries represented include businesses from large to small, professional services, education, government, healthcare, manufacturing, and nonprofit organizations.
ATTENDEE COMMENTS:
- GREAT speakers! Very impressive. This was one of the best conferences I’ve attended in a long time. I appreciated each presenter’s seminar and wished more of my colleagues had attended!
- I spoke with my team and they all stated it was the best Leadership event that they have ever attended. Considering my team consists of members from KY, WI, MI & TN that is saying a lot.
- The best bang was having my executive team together hearing the same messages and discussing them. They were energized.
ABOUT THE LEADERSHIP LOUISVILLE CENTER
The Leadership Louisville Center is the region’s most valuable resource for leadership development and civic engagement. With a purpose to inspire and equip leaders to be better and do better, it has graduated over 10,000 through its civic programs since 1979. The Center is recognized as a national best practice and is known for its dynamic programming and strong community connections. Programming includes five social impact leadership programs (Leadership Louisville, Focus Louisville, Ignite Louisville, Bingham Fellows and Encore Louisville), leadership skills training courses presented through the Leadership Green Room, and events designed to connect leaders and motivate positive change. Learn more at www.leadershiplouisville.org.
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Thank You for Renewing Your Membership | March 2021
One Southern Indiana would like to thank the following members for renewing their membership during the month of March 2021.
| Quarter Century Club (25 Years or More) | Member Since |
| AT&T Indiana | 1976 |
| SoIn Tourism | 1981 |
| City of Charlestown | 1985 |
| Derby Hotel Louisville North | 1985 |
| Indiana University Southeast | 1985 |
| Middleton Reutlinger | 1985 |
| News and Tribune | 1985 |
| LifeSpring Health Systems | 1986 |
| WAVE 3 News | 1988 |
| Charlestown Chamber of Commerce | 1990 |
| Childplace | 1994 |
| Fuzzy Zoeller’s Covered Bridge & Champions Pointe Golf Clubs | 1994 |
| J. Rorrer & Company, CPA | 1994 |
| The Salvation Army | 1996 |
| Ten to 24 Years | |
| St. Elizabeth Catholic Charities | 1999 |
| Fifth Third Bank | 2000 |
| Floyd Circuit Court Judge – J. Terrence Cody | 2001 |
| German American Bank | 2003 |
| Luckett & Farley Architects, Engineers and Construction Managers, Inc. | 2003 |
| Nicholson Insurance Agency | 2003 |
| Budget Services & Supplies, LLC | 2004 |
| Old National Bank | 2004 |
| Smith & Smith, Attorneys – James U. Smith III | 2004 |
| Wellstone Regional Hospital | 2005 |
| Fox Law Offices, LLC | 2007 |
| Leadership Southern Indiana | 2007 |
| Commonwealth Sign Co. | 2008 |
| Harding, Shymanski & Company, P.S.C. | 2008 |
| Nu-Yale | 2008 |
| Delta Services LLC | 2009 |
| YMCA of Greater Louisville, Inc. | 2009 |
| INgrid Design | 2010 |
| LegalShield & IDShield | 2010 |
| Southern Indiana Society for Human Resource Management | 2010 |
| The Miller Company | 2010 |
| Alpha Energy Solutions | 2011 |
| Arctic Minerals | 2011 |
| Kentuckiana Wood Products, Inc. | 2011 |
| Five to Nine Years | |
| Air Hydro Power | 2013 |
| Discount Labels, Inc. | 2013 |
| Haynes Martial Arts Academy | 2013 |
| HMS Global Maritime | 2013 |
| Nicholson & Becht Orthodontics | 2013 |
| Nugent Sand Company | 2013 |
| Transformation Network | 2013 |
| Angel Hands Therapeutic Massage, Inc. | 2014 |
| Edward Jones – Financial Advisor – Heather Shonkwiler | 2014 |
| Henryville Mini Storage, LLC | 2014 |
| Hill’s Auto Sales, Inc. | 2014 |
| Lochmueller Group, Inc. | 2014 |
| Steel Dynamics, Inc. | 2014 |
| Clarksville Roosters | 2015 |
| HMC Service Co. | 2015 |
| Cardinal Pointe Financial Group | 2016 |
| Two to Four Years | |
| A. Rutz Law, LLC | 2017 |
| Branham Corporation | 2017 |
| Personal Counseling Services, Inc. | 2017 |
| Waterfront Botanical Gardens | 2017 |
| Spectrum Reach | 2018 |
| A1 Porta Potty | 2019 |
| Berkshire Hathaway HomeServices Parks & Weisberg, Realtors | 2019 |
| Clark’s Snacks | 2019 |
| Patrick Johnson Landscaping LLC | 2019 |
| One Year | |
| AxisPoint Alliance | 2020 |
| Foundations Family Medicine | 2020 |
| Indiana Tech | 2020 |
| Makarios Consulting, LLC | 2020 |
| Ovation Technology Group | 2020 |
| Rumpke Waste & Recycling | 2020 |
| Stone Valley Productions | 2020 |
| Town of Sellersburg | 2020 |
Attracting Diverse Talent in Manufacturing
Submitted by Southern Indiana Works
Attracting diverse candidates has been and continues to be a challenge for many companies and addressing the gender gap is no exception. Manufacturing, industrial, and related sectors tend to struggle the most in attracting women to their companies. Even though women make up about half of all overall workers, they account for less than one-third of manufacturing workers.
Overall, about 1 in 4 local manufacturing workers are women. Our local region’s manufacturing sector is 28% female, which is on par with the national rate of 29%. Some manufacturing sectors have higher rates of female employment. Among those sectors are household appliance manufacturing (35%), plastics product manufacturing (36%), and printing and related support activities (41%).
Bridging the gender gap and attracting more diverse talent really comes down to reshaping the way people think about manufacturing jobs. This includes educating individuals on the types of jobs that are available in the industry and helping them get the required qualifications to fill those open positions. Manufacturing is currently in an exciting phase. With new products, methods, and technology on the table and more on the horizon, women will be an important and critical part of the future of manufacturing. Women represent one of the largest pools of talent that continues to go untapped. Unless the gender gap is addressed, companies’ abilities to innovate and expand will be limited.
Various initiatives and organizations have been developed to spearhead the campaign to bridge the gender gap allowing for a more diverse and robust talent pipeline, feeding into the manufacturing industry. Southern Indiana Works (SIW) and our partners Ivy Tech, One Southern Indiana, and Prosser Career Education Center have worked together to develop the Southern Indiana Advanced Manufacturing Pipeline (AMP) initiative. AMP is designed to build a pipeline of qualified skilled workers prepared to enter and advance in a manufacturing career.
AMP begins with assessing candidates for basic skills and employment barriers and matches them with a Workone Career Coach. From there, candidates are provided with remediation to ensure they have reached a level of employability skills that will allow them to be successful in a full-time manufacturing job. These skills are validated by the ACT WorkKeys exam. Following the WorkKeys National Career Readiness certificate, candidates will enter a short-term certification course that will result in a Certified Production Technician certification, providing them with a number of manufacturing essential skills.
The final phase of the AMP program places the skilled candidate into an Earn and Learn opportunity at one of our regional employer partners where they will be trained to the specific needs of the employer and provided a career path.
Learn more about Southern Indiana AMP or how to become and Employer Partner on April 13th during the MMA General Meeting at 11am*.
*Only Metro Manufacturing Alliance (MMA) members of 1si are allowed to attend the General MMA Meetings. If you are a manufacturer and would like information on becoming an MMA member, contact Steven Cabezas or Mary Jo Wallin-Orlowski
Economic Update: Leisure and Hospitality
The Covid-19 pandemic brought about the most destructive job losses since the Great Depression. Job losses were heavily concentrated in manufacturing, healthcare, and leisure and hospitality. Last month, this column documented the state of manufacturing. Today, we look at leisure and hospitality.
Leisure and hospitality suffered the largest amount of job losses, both locally and nationally. The economic restrictions required many establishments in the leisure and hospitality sector to either shut down completely or experience a drastic reduction in revenues. Some establishments were able to pivot to online ordering and curbside pickups, but in many cases, this was not close to matching revenue levels in the pre-pandemic environment. Some firms ended up closing altogether, and others closed indefinitely.
The leisure and hospitality supersector consists of two industries: arts, entertainment, and recreation, and accommodation and food services. The sector is seasonal, with Louisville Metro employment peaking in July, and usually hitting a trough in December or January. Taking seasonality into consideration, employment in the leisure and hospitality sector is running about 15,000 to 18,000 jobs below pre-pandemic levels. These numbers are quite substantial when you consider job losses in prior recessions (the Great Recession saw just about a flat change in leisure and hospitality jobs), but a considerable improvement from the 35,000 total losses experienced last year. Overall job losses are running approximately at 36,000 compared to last year. So leisure and hospitality makes up close to 50% of total job losses.
Arts, entertainment, and recreation is down approximately 1,600 jobs (a 17% decline) in January compared to last year. In the depth of the pandemic, jobs were down approximately 7,000 jobs (a 62% decline from the previous year). The industry is quite broad, including casinos, exercise trainers, museums, ticket takers, dancers and choreographers, and musicians and singers, to name a few.
The largest industry is accommodation and food services. This includes motels and hotels and food and drinking places. In Louisville Metro, food and drinking places is the largest subsector with respect to employment. Food and drinking places employment totaled approximately 40,500 in January 2021 (down 23% from previous year), compared to 52,600 in January 2020. At the depth of the pandemic, food and drinking places were down 24,000 jobs, equivalent to a 45% reduction.
In the five counties of Southern Indiana, approximately 10,000 people were employed by food and drinking places in the first quarter of 2020; 726 were employed by accommodation. Fast forward to the 3rd quarter of 2020 (the most recent available data at the county level), we observe that 9,300 were employed by food and drinking places (a 12% decline from the previous year), and 575 by accommodation (a 23% decline from the previous year). Overall, the five counties are down 3,600 jobs 2020 Q3, compared to 2019 Q3, with leisure and hospitality making up 41% of overall job losses.
What does all this mean?
In a nutshell, the sector has made considerable progress since last April. Obviously, challenges remain, and this varies by the segment of the market an establishment serves. If an establishment relies primarily on local customers, or regional travelers, everything may be back to normal. If an establishment relies on conventions, concerts, and sporting events, the picture is entirely different.
The Year Ahead
The leisure and hospitality sector should expect to see strong growth this year. The roll out of the vaccines, continued relaxation of pandemic restrictions, and significant pent-up demand for travel and leisure experiences will all combine to produce a decent year for 2021. This does not suggest that hurdles do not remain. Until conventions, sporting events, and concerts return, some establishments will see greater obstacles than others. Labor shortages, for various reasons, can place headwinds to some of this growth (if a server is not available for a table, that table does not generate revenue).
Consumers will have the cash to spend. Additional stimulus and high levels of household savings will give consumers the resources to pursue leisure and hospitality. One of the reasons I believe Louisville Metro will recover total job losses late this year (or at least come close) is linked to the progress that will be made in leisure and hospitality.
Data sources: Indiana data: STATS Indiana Quarterly Census of Employment and Wages. Louisville Metro data on leisure and hospitality employment: FactSet. Louisville arts, entertainment and recreation and accommodation and food services: Bureau of Labor Statistics
Submitted by
By Dr. Uric Dufrene, Sanders Chair in Business and Professor of Finance, Indiana University Southeast
ALIGN SOUTHERN INDIANA TO HOST GERRY DICK OF INSIDE INDIANA BUSINESS
NEW ALBANY, Ind. – Align Southern Indiana, a local, five-county collaborative nonprofit that addresses needs and produces sustainable solutions that result in our region achieving its potential as a best place to live, work and play is hosting Gerry Dick of Inside Indiana Business.
A Leadership Perspective: The Success of Collaborations
Tuesday, April 13, 2021 at 8:30am via Zoom
Hear how a group of individuals, representing different sectors and ten counties, collaborated successfully to lure a much sought after Indiana University School of Medicine program. The Southwest Indiana Internal Medicine Residency program is uniquely designed in collaboration with two partner hospitals and seeks to provide access to much needed primary care for rural communities and underserved populations.
Gerry Dick, creator and host of Inside Indiana Business, will moderate a discussion of the individuals and businesses responsible for creating the collaboration that attracted an internal medicine residency program. These distinguished individuals will share h
ow the collaboration was created, how they overcame obstacles, and the strength in collaborative leadership that culminated in the prestigious Indiana University School of Medicine locating an internal residency program in their area.
Follow the link to register for this free event. https://givebutter.com/BreakfastSeries2021
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About Align Southern Indiana
Align Southern Indiana is a non-profit, five county collaboration affiliated with Alignment USA, a national network of shared practices based in Nashville, Tennessee. Align Southern Indiana’s mission is to actively facilitate a shared regional process that will align resources, address needs and produce sustainable solutions resulting in the region achieving its potential as a best place to live, work and play. Approximately 259,803 citizens and 12 school districts are represented with five Foundational Areas of Focus: Economic & Talent Development, Education, Regional Leadership, Quality of Life and Quality of Place. Align Southern Indiana is dedicated to serving the community through systemic change
For more information about Align Southern Indiana, contact 502-777-0779 or visit www.alignsi.com
Thanks for Renewing Your Membership | February 2021
One Southern Indiana would like to thank the following businesses for renewing their membership during the month of February 2021.
| Quarter Century Club (25 Years or More) | Member Since |
| The Koetter Group | 1975 |
| Greater Clark County Schools | 1980 |
| Stites & Harbison, PLLC | 1982 |
| Junior Achievement of Kentuckiana | 1985 |
| Schuler Bauer Real Estate Services | 1985 |
| AML Construction | 1986 |
| Hitachi Cable America Inc. | 1988 |
| Amatrol, Inc. | 1990 |
| Dennis Ott & Company, Inc. | 1990 |
| American Red Cross Louisville Area Chapter | 1991 |
| Jeffersonville Township Public Library | 1991 |
| Indiana Land Co. | 1994 |
| Ten to 24 Years | |
| Land-Mill Developers, Inc. | 1998 |
| Rock Creek Community Academy | 1998 |
| Sherwin – Williams | 1998 |
| First Harrison Bank | 1999 |
| Padgett, Inc. | 2003 |
| Kentuckiana Air Education Network | 2004 |
| Mediaura | 2008 |
| Scot Mailing and Shipping Systems | 2008 |
| FormWood Industries, Inc. | 2009 |
| S & M Precast, Inc. | 2010 |
| Five to Nine Years | |
| Frost Brown Todd, LLC | 2012 |
| GHK Truss, LLC | 2012 |
| Adaptive Nursing & Healthcare Services, Inc. | 2013 |
| Community Montessori Charter Public School | 2013 |
| ECT Services, Inc. | 2013 |
| Schmitt Furniture Co. | 2013 |
| Silver Heights Camp & Retreat Center | 2013 |
| Squire Boone Caverns | 2013 |
| A Plus Paper Shredding | 2014 |
| Purdue Polytechnic New Albany, Purdue University | 2014 |
| Signarama Dixie | 2014 |
| Cobblestone Hotel & Suites | 2015 |
| Pure Education Initiative, Inc. | 2015 |
| Our Lady of Providence High School | 2016 |
| Two to Four Years | |
| Center for Lay Ministries, Inc. | 2017 |
| Delta Dental of Indiana | 2017 |
| Premier Capital Corporation | 2017 |
| Republic Services | 2017 |
| FASTSIGNS of Jeffersonville/Clarksville | 2018 |
| Louisville Sports Commission | 2018 |
| Premier Homes | 2018 |
| Ramiro’s Cantina Express | 2018 |
| Vitality Senior Services | 2018 |
| Floyds Knobs Water Company | 2019 |
| Masters’ Supply, Inc. | 2019 |
| Naked By Sunday | 2019 |
| RIGC Enterprises and Consulting LLC | 2019 |
| One Year | |
| Diversified Concepts & Solutions, LLC | 2020 |
| Russell Cellular | 2020 |
| SERVPRO of Floyd, Clark, Harrison, Perry, Crawford, Orange, Washington & Scott Counties | 2020 |
| Southern Hospitality | 2020 |
Advocacy Leadership Group Issue Statement for Catalytic Leadership
Issue Statement for Catalytic Leadership: The role of 1si in promoting a fiscally-stable, business-friendly environment transcends local, regional, state and national issues. Our members and investors support our leadership as a change agent to further our organizational mission. Through our leadership and advocacy initiatives, we promote positive change by serving as the “Champions of Ideas” to achieve economic and business vitality for the region. Additionally, we strive to provide for our investors and members access to policy makers through forums, roundtables and one-on-one meetings.
February 23 Advocacy Leadership Update:
- Budget Bill includes $150 million for Regional Recovery – Remember the Regional Cities program we watched pass us by in 2015? Well, we may have a second chance for our share of state resources dedicated to regional projects if HB-1001 (the budget bill) passes in its current state. The Governor’s Next Level Regional Recovery program will award grants to regional development authorities for to support economic regional recovery.
- Small Business Restart Grants – Last month HB-1004 passed the full House by a vote of 93-3! If approved by the Senate, this action will establish the Hoosier Hospitality Small Business Restart grant program to provide grants to eligible entities to accelerate economic recovery from the impacts of the coronavirus pandemic. An eligible business may apply for a grant under the program for reimbursement of up 80% of non-payroll business expenses and 100% of payroll expenses incurred between March 1, 2020, and April 1, 2021, up to $50,000 total. Up to $30 million can be allocated to this fund through the budget process.
- COVID-Related Liability Protections – 1si’s top priority for this session were COVID-related risk reduction and recovery efforts. SB-1 quickly passed and was sent to the House. The two chambers conferred on agreed bill to protect business, public bodies and venues against liabilities related to COVID 19 transmission. Governor Holcomb signed the bill into law on February 11!
- Broadband Support – Many broadband bills are still alive! Several bills were filed and designed to increase and enhance the reliability and affordability of broadband service are scheduled for hearings this week, and several others are moving. The specific bills – some of which incorporate other filings – include HB-1449, SB-359 and SB-377. 1si is on record to support broadband enhancement and we expect to see movement on this issue this session.
- Wetlands Regulation – SB-389 has passed the full Senate 29-19 and is crossing the hallway to be taken up by the House of Representatives. If approved, this will repeal the law requiring a permit from IDEM for wetlands activity in a state-regulated wetlands, leading to enhanced development opportunities. 1si supports this Bill.
- Local Economic Development Tools – 1si continues to support economic development as a priority. As we partner with local governments to attract, expand and retain jobs and investment, we support protecting and enhancing existing economic development tools, including:
- Tax Increment Financing. We will continue to look for ways to encourage flexible and responsible use of TIF to maximize the needs of our growing businesses. Bills addressing TIF include HB-1187, HB-1249 and SB-408.
- Certified Technology Parks. Giving greater flexibility for state certified technology parks (CTPs) is the intent of SB-213. We support CTPs and the enhanced use proposed by this bill, which is scheduled for a hearing this week.
- Enterprise Zones. As presented, HB-1025 outlines the process for extending Enterprise Zones – a valuable economic development tool – by an additional five (5) years.