RICHMOND — There's continued
optimism among East Central Indiana businesses about the region's
business climate. At least according to an Indiana University East
survey.
The school's Business and
Economic Research Center in the School of Business and Economics this
week reported results from its third annual East-Central Indiana
Business Survey. Survey questions were sent to 616 business leaders in
Wayne, Fayette, Henry, Randolph and Union counties, and 96 business
owners and managers participated, including 62 from Wayne County.
The
results indicated an uptick in business production and activity during
2018, continuing a trend from 2017; however, concerns about business
costs led to a smaller percentage of businesses anticipating increased
profits during 2019.
Overall, 65 percent of the
businesses responded that they had increased their production or
activity during 2018, more than 90 percent maintained or increased work
force and 85 percent maintained or increased profits. Less than 6
percent indicated they decreased the capital investments.
In
Wayne County, 71 percent of the 62 businesses boosted production or
activity, compared to about 7 percent reporting a decrease. Employment
level was maintained (52 percent) or increased (37 percent) for 89
percent of the county businesses responding. More than 80 percent of the
businesses increased or maintained their profitability, while just 5
percent reduced capital investment.
The
productivity outlook remained strong for 2019 for surveyed businesses
with just 4 percent indicating they would reduce production or activity
and 4 percent expecting to reduce capital investment. More than 90
percent responded they would maintain or increase employment. Although
66 percent expected business costs to rise this year, 52 percent still
expected increased profits.