Two IUPUC professors will discuss the impact of tariffs, trade wars, tax cuts, a tight labor market and opioid abuse on the city and state economies during the Indiana Business Outlook Panel’s stop in Columbus.
Steve Mohler, visiting assistant professor of business, and Ryan Brewer, associate professor of finance, will be among four panelists presenting local, state, national and global economic and market forecasts at 8 a.m. Nov. 7 at the Columbus Learning Center Lecture Hall. Mohler will share the local outlook and Brewer the state forecast.
“There is a lot more to look at than in previous years,” Brewer said.
Cummins Inc., for example, a Columbus-based Fortune 500 company and the community’s largest employer, is impacted by all of the aforementioned topics that will be included in the presentations, Brewer said.
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Also, tax cuts have driven the U.S. economy as of late, the IUPUC professors said.
More money in people’s paychecks have driven consumer spending, Mohler said. But now there’s more evidence of business investment, Brewer said.
The ability of employers to attract and retain workers continues to be a challenge because of a tight labor market, with almost all local working-age people already employed, Mohler said.
Amazon’s plans to open a packaging facility about 35 miles north of Columbus in Greenwood will add to the challenge local employers face, Mohler said. Amazon has raised its minimum wage to $15, more than double the federal minimum of $7.25.
During last year’s presentation, Brewer noted that Columbus relies on 8,000 to 10,000 workers commuting to the city to fill the remaining jobs that its workforce of about 45,000 cannot.
The additional loss of potential employees due to opioid abuse also negatively impacts the local community, Brewer said last year.
Experts from the Indiana Business Research Center, a part of the Kelley School of Business at Indiana University, gather and analyze economic data and share it during stops in communities across the state each November, having done so since 1972. Columbus is the fourth of 10 presentation stops this year.
“Most Columbus area residents and Indiana Hoosiers want to know what to expect in 2019 regarding the world, U.S., Indiana and Columbus-area economies, which makes the Business Outlook Panel series one of Indiana University’s most widely anticipated and attended events,” said Frank Wadsworth, head of the Division of Business at IUPUC.
Kyle Anderson, clinical assistant professor of business economics at the Kelley School of Business in Indianapolis, will share the U.S. and global outlooks. Catherine Bonser-Neal, associate professor of finance in the Kelley School of Business, will present the financial markets forecast.
The intent of the program is for policy leaders and employers to take the information presented and use it in crafting short- and long-term plans, Brewer said.
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What: Indiana Business Outlook Panel
When: 8 a.m. Nov. 7 (light breakfast served 7:30)
Where: Columbus Learning Center Lecture Hall, 4555 Central Ave.
Why: To present local, state, national and global economic forecasts
Who: Panel of four speakers
- Local forecast — Steve Mohler, visiting assistant professor of business at IUPUC
- State forecast — Ryan Brewer, associate professor of finance at IUPUC
- U.S. and global forecasts — Kyle Anderson, clinical assistant professor of business economics at the Kelley School of Business in Indianapolis
- Financial markets outlook — Catherine Bonser-Neal, associate professor of finance in the Kelley School of Business
Cost: $15
Registration: Online at Columbus Area Chamber of Commerce’s website at business.columbusareachamber.com/events, or by contacting Kami Adams at 812-379-4457, ext. 104, or sending an email to [email protected].
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