sept 2010 final
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Economic Indicators:
An Update for the 7 Rivers Region
The views expressed today are my own,
they probably do not reflect the views of
the sponsors, and as will become
apparent probably not my employer, or
anyone else for that matter. Complaints
can be emailed too:
brooks.tagg@spam.uwlax.edu
Standard Disclaimer:
-6.0
-4.0
-2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
0 3 6 9 12
Cumulative Quarterly Decline in GDP from Peak
1981
2001
1991
2007
-20%
-15%
-10%
-5%
0%
5%
10%
15%
1991 1993 1995 1997 1999 2001 2003 2005 2007 2009
Change in Recession Index - Jackson County
Contracting
Expanding
Recession Index ©
Jackson
Juneau
Lacrosse
Monroe
Trempeal…
Vernon
National
1991 1993 1995 1997 1999 2001 2003 2005 2007 2009
$75,000
$100,000
$125,000
$150,000
$175,000
1997-Jan 1999-Jan 2001-Jan 2003-Jan 2005-Jan 2007-Jan 2009-Jan
Average Price of Single Family Homes Sold in 7 Rivers Region
0
200
400
600
800
1,000
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010*
Foreclosures Filed in Jackson, Juneau, La Crosse, Monroe, Trempealeau, Vernon
Counties
0
100
200
300
400
500
600
700
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Total Eviction Filings in Jackson, Juneau, La Crosse, Monroe, Trempealeau, Vernon
Counties
Source: Professor Russ Kashian Director of the FERC at the University of Wisconsin-Whitewater, and the University of Wisconsin - Extension
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
Jan-99 Jan-01 Jan-03 Jan-05 Jan-07 Jan-09
Number of Building Permits in La Crosse MSA
Total Permits
Single Unit Permits
0%
25%
50%
75%
100%
Percent of unemployed by unemployment duration
< 5 Weeks
5 to 14 Weeks
15 to 26 Weeks
> 26 Weeks
Source: BLS
-7
-6
-5
-4
-3
-2
-1
0
1
1 4 7 10 13 16 19 22 25 28 31
Cumulative Employment Loss From Peak
MN
WI
- 10 20 30 40 50
very satisfied
somewhat satisfied
somewhat dissatisfied
very dissatisfied
When it comes to your current job security, are you...
National
7 Rivers Region
- 10 20 30 40 50 60 70
Pretty much hit the bottom
Still a ways to go
Other
Thinking about the country's economic conditions...
National
7 Rivers Region
Paul Seabright - Company of
Strangers
Politicians are in charge of the modern economy in much the
same way as a sailor is in charge of a small boat in a storm.
The consequences of their losing control completely may be
catastrophic(…) but even while they keep afloat, their
influence over the course of events is tiny in comparison
with that of the storm around them. We who are their
passengers may focus our hopes and fears upon them, and
express profound gratitude toward them if we reach harbor
safely, but that is chiefly because it seems pointless to thank
the storm.
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
Feb. '08 Jun. '08 Oct. '08 Feb. '09 Jun. '09 Oct. '09 Feb. '10 Jun '10
Total U.S. Light Vehicle Retail Sales (SAAR, Mil. Units)
Domestic
Imports
Cash for Clunkers
0 2,000 4,000 6,000 8,000 10,000 12,000 14,000
IllinoisCalifornia
New JerseyNew York
FloridaConnecticut
North CarolinaPennsylvania
GeorgiaMinnesotaWisconsin
OhioMassachusetts
ArizonaWashington
MarylandMichiganColorado
NevadaVirginia
South CarolinaIowa
TennesseeMaine
OklahomaMississippi
UtahKentuckyAlabama
HawaiiRhode Island
DelawareKansas
VermontNebraska
New MexicoIndiana
New HampshireWyoming
West VirginiaD.C.
South DakotaIdaho
FY 2011 Projected Budget Shortfalls in Millions
See Handout
$1,573
$1,352
$1,273
$0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500
D.C.New Jersey
WyomingConnecticut
New HampshireNew York
Rhode IslandVermont
MassachusettsIllinoisFloridaMaine
WisconsinAlaska
CaliforniaMichiganNebraska
TexasVirginia
US Ave.Kansas
MinnesotaColorado
IowaNevada
PennsylvaniaMontana
WashingtonOhio
MarylandNorth Dakota
OregonIndiana
South DakotaGeorgiaArizonaHawaii
South CarolinaMissouri
North CarolinaUtah
MississippiIdaho
TennesseeDelaware
West VirginiaKentuckyLouisiana
OklahomaNew Mexico
ArkansasAlabama
2008 Per Capita Property Tax Collection
0% 10% 20% 30% 40% 50%
MarylandOregon
MassachusettsNew York
North CarolinaConnecticut
KentuckyMinnesota
VirginiaOhio
CaliforniaIdaho
DelawareUtah
MissouriWisconsin
PennsylvaniaMaine
GeorgiaColorado
IowaMontana
D.C.Arkansas
KansasWest Virginia
IndianaNew Jersey
NebraskaHawaii
AlabamaOklahoma
Rhode IslandSouth Carolina
VermontMichigan
IllinoisLouisiana
MississippiNew Mexico
ArizonaNorth Dakota
New HampshireTennessee
FloridaTexas
South DakotaWyoming
NevadaWashington
Alaska
Revenue From Income Tax FY08
0% 10% 20% 30% 40% 50% 60% 70%
WashingtonTennessee
NevadaSouth Dakota
LouisianaHawaii
ArkansasArizona
MississippiFloridaTexas
AlabamaNew Mexico
OklahomaUtah
GeorgiaWyomingKentucky
West VirginiaIndiana
MissouriIdaho
South CarolinaColorado
KansasNorth Carolina
IllinoisNebraskaMichigan
IowaOhio
MinnesotaNorth Dakota
VermontPennsylvania
CaliforniaMaine
Rhode IslandWisconsin
VirginiaD. C.
ConnecticutMarylandNew York
New JerseyMassachusetts
New HampshireMontana
DelawareOregonAlaska
Revenue From Sales Tax FY08
Jim Wood
James
Buchen
Panelists
Questions are drawn from proposals in the
Blue Print for Change. They can be found
on page 11 in your booklet.
Q1. How can the 7 Rivers Region alter its
tax structure to collect the same
revenue, but improve the economic
climate?
Q2. What reform will help our region most
effectively create and retain college
graduates?
Q3. How can we identify and eliminate
ineffective local public expenditures?
Q4: How can the state best align income
taxes with its desire to grow, expand and
attract business and create jobs? (page
27 of Blueprint).
Q5: How can the state increase its support
for cluster industry, training and
productivity initiatives.
Specifically, enhance existing industry
clusters such as
agriculture, manufacturing, paper, forest
products and tourism and emerging
industry clusters such as high-tech, bio-
tech, business services and IT-enabled
services? (page 10 of Blueprint).
Q6: Should the state create an economic
development investment fund (i.e., a fund
that would invest money in specific
economic enterprises in expectation of a
return on that investment) able to provide
a two to one match for funds raised by
certified regional economic development
entities (i.e., those belonging to the
confederation with certified business
plans).
Thanks
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