The best ideas always have a way of surfacing - even when we tuck them away for unknown reasons.
Such is the case with Springfield Business Journal's annual Economic Outlook issue, which dates back in publication to 1987, a January issue that featured a photo of Hammons Tower under construction. For two decades, our Economic Outlook issue ran on cue to start each new year. Then, in 2007 and 2008, a shift was made to the final issues of the year, including a look back at the top stories. (Remember, the best ideas have a way of surfacing, or resurfacing in this case.)
The change was met with limited success, and at the behest of publisher Dianne Elizabeth Osis, we moved the date back to the first quarter. This 2009 edition returns to its glory days, though this March issue is a later first-quarter date than ever before.
Osis also challenged the team to expand the coverage in breadth and depth, so we responded with analyses of nine industry sectors and perspectives of two regions, Branson and Joplin.
After reviewing SBJ's bound hard copy archives, I would argue this is the most comprehensive and creatively designed outlook issue we've published.
As you'll gather from the stories and dialogue in these pages, businesses are in a battle with the economy. If corporate executives and public officials don't see it this way, they're either ignorant to the culture around them or simply don't care, and their organizations will flounder.
I learned from our sources that now is the time to form your battle cry, if you haven't already.
Missouri has long been known as a battleground state in politics. Well, businesses are borrowing that notion in 2009.
To help you form your battle cry, here are a few topics to look out for this year. You decide how it affects your role in Missouri's business battleground.
• Teetering job markets. We probably haven't hit rock bottom here, so don't expect a rebound yet. Food distributor McLane Co.'s decision last week to build in Republic and employ 400 is great but rare news.
• The $730 million made available to the U.S. Small Business Administration by the federal stimulus plan. Area businesses should make all attempts at gaining access to these dollars.
• Publicly funded construction projects. This work - namely City Utilities Southwest 2, Springfield-Branson National Airport's new terminal and a slew of Springfield Public Schools jobs - has carried the building industry in recent years, but the projects are coming to a close. How long can it hold on? City and county tax funding is diminishing, specifically in sales taxes, and officials are scrambling. Check a ballot near you.
• Steals of deals in real estate, and low interest rates to boot. Two caveats: sparkling credit and no personal inventory to unload are required. I know of a midrange house on the market for five months without a looker. I think a short-sell was in order.
• Airport additions. It may be billed as Branson vs. Springfield, but consumers are the real winners; $200 roundtrips to Atlanta and Los Angeles for the time being. It's capitalism at its finest.
• Health care plus recession equals more health care. Needs don't disappear during tough financial times. While a slight decrease in patient visits and admissions is noted, health care institutions should continue to buck the trend. Can you say baby boomers?
For details on these topics, read economic outlook coverage at the link below.
Our editorial brigade and the columnists we recruited invested a lot into this issue in order to help you steer through the frontlines. So gear up, dig in and plan your push. It's going to be a wild year.
Springfield Business Journal Editor Eric Olson can be reached at eolson@sbj.net.
