BOSTON, April 7, 2015 /PRNewswire/ -- Santander Bank, N.A. and the Greater Providence Chamber of Commerce today
hosted their 15th annual meeting for the business
community focused on the region's economic outlook. Over 350
attendees were surveyed in real time regarding their expectations
for the local economy in 2015, as well as plans for their
respective businesses over the coming year.
"It's important that the leaders making up Rhode Island's economy come together to
discuss the opportunities, challenges, and trends that await in
2015," said Mike Lee, a member of
Santander Bank's Executive
Management Committee and Head of Commercial Real Estate Banking.
"Rhode Island's vibrant community
has a tremendous amount to offer to businesses and consumers, and
we are delighted to bring together leaders to talk about the
state's economic future."
Governor Gina Raimondo discussed
her jobs plan for the state of Rhode
Island and Mayor Jorge Elorza
discussed business opportunities for the city of Providence.
"Everyone has a role to play in strengthening our economy," said
Governor Raimondo. "I applaud Santander and the Greater Providence Chamber of Commerce for a
hosting this event that assembles business leaders from all sectors
to discuss the opportunities to foster innovation and economic
growth in Rhode Island."
"I am committed to making sure Providence works for those who do business in
our capital city," said Mayor Elorza. "Whether it's streamlining
permitting or paying bills online, or improving customer service
when you visit City Hall – my administration will always strive for
improvement. I thank the Greater
Providence Chamber of Commerce and Santander for helping to
bring us together to discuss ways we can succeed together."
Attendees of the annual Economic Outlook Breakfast responded to
a series of economic and business-related questions during a
real-time poll.
Fifty-three percent of respondents believe the economy in
Rhode Island will improve over the
next 12 months while 69% see their own business improving during
the same period. The poll was conducted in real-time with
attendees using automated response devices. In addition to
questions about the U.S. and Rhode
Island economies, the survey queried attendees about their
local and international business expansion plans, employer hiring
plans and top challenges facing regional enterprises.
Following the survey, attendees listened to a panel discussion
about regional business issues moderated by Laurie White, president of the Greater Providence Chamber of Commerce. The
panel included Joseph Azrack,
Chairman of the I-195 Redevelopment District Commission;
Scott Jensen, Director of the Rhode
Island Department of Labor & Training; Stefan Pryor, Rhode
Island Secretary of Commerce; and Ed Tebaldi, Associate
Professor of Economics at Bryant
University.
About Santander
Santander Bank, N.A. is
one of the largest retail banks in the
United States by deposits. Its main corporate offices
are in Boston and it operates
principally in Connecticut,
Delaware, Maryland, Massachusetts, New
Hampshire, New Jersey,
New York, Pennsylvania and Rhode Island. Santander's 9,703 employees
serve its 1.8 million customers through the Bank's 703 branches,
2,092 ATMs, call centers, website and mobile app. Supervised by the
Office of the Comptroller of the Currency and a member of the
Federal Deposit Insurance Corporation, Santander in the United States is a wholly-owned,
financially autonomous subsidiary of Banco Santander (NYSE: SAN), a
global commercial and retail bank. For more information about
Santander, visit www.santanderbank.com or call 877-768-2265.
MEDIA CONTACT:
Nancy Orlando
Public Relations Manager
nancy.orlando@santander.us
617.757.5765
Santander - Greater Providence Chamber of
Commerce 2015 Economic
Outlook Survey Results
|
|
|
1. Thinking about
the U.S. broadly, over the next 12 months how do you think the
economy
will be in comparison to today?
|
Responses
|
Much better
shape
|
5%
|
Somewhat better
shape
|
58%
|
About the
same
|
30%
|
Somewhat worse
shape
|
5%
|
Much worse
shape
|
1%
|
|
|
2. Thinking
only about Rhode Island, over the next 12 months how do you think
the economy will be in comparison to today?
|
Responses
|
Much better
shape
|
7%
|
Somewhat better
shape
|
46%
|
About the
same
|
39%
|
Somewhat worse
shape
|
7%
|
Much worse
shape
|
1%
|
|
|
3. Thinking
only about your business, over the next 12 months how do you think
your business will be in comparison to today?
|
Responses
|
Much better
shape
|
17%
|
Somewhat better
shape
|
52%
|
About the
same
|
29%
|
Somewhat worse
shape
|
3%
|
Much worse
shape
|
0%
|
|
|
4. Thinking
only about your business, what are the most challenging issues you
expect to face in the next year. Please select up to
three.
|
Responses
|
Government regulation
and uncertainty
|
43%
|
Cost of fuel and
energy
|
14%
|
Cost of employee
wages and benefits
|
40%
|
Cost of
borrowing/interest rates
|
16%
|
Customer
relations
|
19%
|
Sourcing talent and
engaging employees
|
45%
|
Managing "big data"
and cybersecurity
|
13%
|
Product and process
innovation
|
17%
|
Sustainability
|
15%
|
Operational
excellence
|
27%
|
|
|
5. Which of the
following best describes your hiring plans for the next 12
months?
|
Responses
|
Significant
increase
|
3%
|
Slight
increase
|
54%
|
No change
|
38%
|
Slight
decrease
|
5%
|
Significant
decrease
|
1%
|
|
|
6. If you plan to
hire, what are the most important factors behind this
decision? Please select up to three.
|
Responses
|
Projected sales
growth
|
43%
|
Current staffing
levels cannot meet demand
|
43%
|
Need skills not
possessed by current staff
|
39%
|
Reasonable labor
costs
|
9%
|
Government
incentives
|
6%
|
Economic outlook has
improved
|
24%
|
Expanding into a new
segment or market
|
35%
|
Firm's financial
health has improved
|
20%
|
No plans to
hire
|
16%
|
|
|
7. Which of the
following best describes your business's capital expense spending
plans in 2015?
|
Responses
|
Significant
increase
|
11%
|
Slight
increase
|
44%
|
No change
|
38%
|
Slight
decrease
|
6%
|
Significant
decrease
|
2%
|
|
|
8. How likely are
you to expand your business outside of the United States over the
next year?
|
Responses
|
Highly
likely
|
6%
|
Likely
|
6%
|
Not sure
|
9%
|
We have no plans to
expand our business globally
|
79%
|
|
|
9. What might
inhibit your international expansion plans? Please select up
to three.
|
Responses
|
Lack of access to
local market intelligence in geographic target areas
|
16%
|
Securing legal,
accounting or financial experts who are experienced in foreign
trade
|
12%
|
Managing currency
risk
|
10%
|
Language
barriers
|
11%
|
Lack of available
workers experienced in global trade
|
9%
|
Geopolitical
risks
|
8%
|
We are already fully
prepared to expand internationally
|
6%
|
Not
applicable
|
68%
|
|
|
10. If the PawSox
were to relocate to a new stadium in Providence, would it make you
any more or less likely to attend a baseball game?
|
Responses
|
Yes, I would be more
likely to take in a game
|
47%
|
No, I would be less
likely to take in a game
|
14%
|
Would make no
difference
|
39%
|
|
|
11. Will the
Patriots repeat as the Super Bowl champions in 2016?
|
Responses
|
Absolutely!!!
|
43%
|
Probably, but it will
be close
|
24%
|
Not sure, the odds
are against it
|
19%
|
No Way!
|
15%
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ri-governor-providence-mayor-and-local-business-leaders-discuss-rhode-island-economy-at-santander-and-greater-providence-chamber-of-commerce-event-300062216.html
SOURCE Santander Bank, N.A.