Chamber Highlights Strong Business Confidence

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The North Country Chamber of Commerce has released the results of its Annual Issue Survey, including the 2022 "BUSINESS CONFIDENCE INDEX".
 

"The Business Confidence Index for 2022 is at 90%, which is remarkably strong given the continued overhang of the pandemic and expressed challenges and concerns regarding our border status, workforce availability, inflation and supply chains," says Garry Douglas, Chamber President. "71% expect their business to be up this year compared with 2021, compared with 73% in January 2020 ahead of the pandemic, while 19% expect business to be steady." Supporting the renewed confidence in the area's economy, Douglas points to strong employment and retail spending, growth in many of the area's manufacturers, continued strength in the real estate and construction sectors, and continued cross border commerce and investment even as border restrictions continue to interfere with personal and visitor travel.

"This is a testament to the determined resilience of our business community, the vitality of the large and growing manufacturing cluster developed over the last twenty years, the successful attraction of visitation and investment from downstate and elsewhere, and the commitment of area residents to support local business through challenging times," says Douglas.

At the same time, the Chamber points to several key issues which are major concerns to the business community which, if not addressed, could undercut anticipated growth.

These include the following findings:

• 60% indicate that staffing shortages are limiting their hours or business activity, causing a loss of potential business.
• 78% indicate that rising inflation is negatively impacting their business.
• 71% indicate that supply delays and shortages are negatively impacting their business.
• Continued border restrictions are a major concern with 98% calling on the U.S. and Canadian governments to focus on coordinated planning and progress toward normalization of border crossings.

"Notably, while 78% feel positive about their own businesses and the North Country right now, only 27% believe the national economy will grow in the year ahead with 48% believing it will go down," notes Douglas. "We have long seen higher positivity about our own area than the state or country at large, but now the difference seems directly linked to some real concerns needing attention in the coming months, like border fluidity, inflation, workforce and supply chains.
 

NEW YORK STATE ISSUES

Responses to questions regarding key New York State issues provided the following indications:

• 96% support for state workforce development programs to be more employer driven, flexible, and region-specific in their focus to help meet skills needs.
• 60% indicate staffing shortages are causing a loss of business.
• 98% support renewed state commitment to closing remaining broadband and cell phone service gaps in the North Country.
• 98% say that New York State must take steps to prevent employers from being hit this year with large Unemployment Insurance cost hikes based on the pandemic.
• As we transition in the coming years to clean energy, 94% believe the state must maintain energy supplies and avoid cost hikes in current energy during the transition.
• 86% say that businesses and employers should not be made legally liable for enforcement of state and federal vaccination and/or mask mandates.
   

The top three priority issues this year on the New York State level are:

1. Closing broadband and cell phone service gaps in the North Country
2. Avoid new mandates on small business and employers this year
3. (tie) - Changes in workforce development programs to be more helpful
4. (tie) - Measures to help end the pandemic and assist businesses with impacts

FEDERAL ISSUES

Responses regarding key federal issues are as follows:

• 98% call for the U.S. and Canadian governments to focus on planning and progress on border crossings.
• 83% say further federal and state support is needed to enhance access to affordable childcare as an essential part of meeting workforce needs.
• 97% say it is important that rising inflation be brought under control, with 78% saying rising inflation is negatively impacting their business.
• 96% say it is important that more be done to address national and international supply chain delays and problems, with 71% saying supply challenges are negatively impacting their business.

The top three priority issues this year on the federal level are:

• Progress toward normalization of U.S.-Canada border crossings
• Bring rising inflation under control
• Address supply chain issues and delays.
   

The Chamber's 2022 Issue Survey results have been shared with federal and state officials and will be used to help guide the Chamber's advocacy efforts in the coming months in Washington, Albany and elsewhere.