2015 Economic Outlook

Welcome to the 2015 Economic Outlook.

What can we say about the future? While no one truly knows what’s in store this year, these professionals representing 16 industries have a pulse as good as any.

With each passing year shaping the next, if these forecasts hold true, international stocks will outpace domestics, diversity will find its place in corporate leadership, “Obamacare” reforms will take form and professional service jobs will reign.

It’s not all rosy. Transportation funding will continue to decline. A stock market correction is in the works. And another recession is around the bend.

They said it. We’re reporting it.

We expect you’ll find insight, hope and hurdles to help you plan for business in 2015.

Here’s The Outlook.

-Eric Olson, Editor

Economy: Jeff Layman, BKD Wealth Advisors LLC

2015 Projection
“International stocks are really due to have a good year relative to U.S. companies.”

Health Care: Paul Taylor, Ozarks Community Hospital

2015 Projection
Through the settling of ACA reforms, there will be new norms established, centered on developing a medical home model for providing primary care.

Manufacturing: David Moore, Paul Mueller Co., and Jack Stack, SRC Holdings Corp.

2015 Projection
Manufacturing sector growth through 2017, followed by a recession 2018–20.

Social Entrepreneurism: Matt O'Reilly, Green Circle Projects LLC, Farmers Markets of the Ozarks Inc. and TrailSpring Inc.

2015 Projection
“A large market correction and continued improvement of consumer behavior – and with the excess of profits, you’ll see more and more giving.”

Education: David Manuel, Drury University

2015 Projection
Declining enrollment will continue to challenge schools nationwide.

Law: Dwayne Fulk, Polsinelli PC and Springfield Metropolitan Bar Association

2015 Projection
“Rate pressures will be high, especially for practices that are growing faster than the market, and because of increased competition, law firms will increase their marketing and business efforts.”

Insurance: Trevor Croley, Croley Insurance & Financial

2015 Projection
“The Senate and Congress are going to figure out a way to allow employers that have maintained their health plan to renew it once again.”

Construction: Cameron Collins, Malone Finkle Eckhardt & Collins Inc.

2015 Projection
The engineering firm’s annual revenue will grow roughly 10 percent.

Retail: Kathi Cryderman, Harem & Co.

2015 Projection
“I feel a sense of vibrancy. I see it and feel it in the housing market, in furniture, clothing, accessories, shoes.”

Transportation: Becky Baltz, Missouri Department of Transportation Southwest District

2015 Projection
“Our transportation funding is declining (and) it will continue without additional funding support.”

Diversity: Ken Coopwood, Missouri State University

2015 Projection
Diverse backgrounds will begin to play in the economic success of the city and will help align its resources accordingly.

Government: Bob Cirtin, Greene County

2015 Projection 
“Even though we are budgeting flat in 2015, I project that sales tax revenue will occasionally increase from quarter to quarter.”

Employment: Rayanna Anderson, Small Business & Technology Development Center and the Management Development Institute

2015 Projection
Job creation will remain key, with the largest increases in service sectors, such as professional and information services.

Economic Development: Jeff Seifried, City Council and Springfield Area Chamber of Commerce

2015 Projection
The Springfield chamber will exceed last year’s 10 project announcements.

Arts: Leslie Forrester, Springfield Regional Arts Council

2015 Projection
Art entrepreneurship and the need for support services will continue to grow.

Tourism: Laura Whisler, Springfield Convention & Visitors Bureau

2015 Projection
“We do anticipate both room demand and room sales to continue to increase.”