Chamber “Economic Growth & Vitality” Survey

Charlottesville, Virginia – February 14)  For the ninth consecutive year, Charlottesville Regional Chamber of Commerce member enterprises cite “Economic Growth & Vitality” as their top public policy interest – and half of those enterprises plan to add jobs in 2017 – while business confidence remains steady in the response to the Chamber’s fifteenth annual member economic survey.

The Annual Chamber Member Economic Survey, which takes an annual reading from the leading representatives of Chamber enterprises, offers an insight index into Chamber members’ economic and policy concerns.  The survey responses came in over January until February 3, 2017. The 2017 Chamber Member Economic Survey was coordinated by the Chamber professional staff.

The continued positive national and local economic indicators show in the Chamber survey response: 50% of the 2017 Chamber member enterprise survey responded that they plan to add jobs; only slightly under last year’s 55% level.  Forty-six percent (46%) of Chamber enterprises anticipate holding level on jobs.

Regarding profitability, 70.6% of Chamber member enterprises expect to see growth in 2017; slightly up from the 70% who anticipated growth last year.  This year continues to show some of the highest confidence levels since the years leading up to and following the “Great Recession” (2007-2009).

Chamber members were also asked to rank from a list of 20 public policy issues those they “…think will have the greatest consequences on the future economic vitality and quality of life of our Greater Charlottesville region.”   

National & local economic factors continue to affect survey responses on the subject of leading public policy concerns.  “Economic Growth & Vitality” registered a 33.3%  response outdistancing other public policy issues cited as facing Greater Charlottesville.  Other issues cited in order were: “Jobs/Workforce Development” (14%), “Housing  Affordability” & “Education” (both at 12.3%), “Early Childhood Education,” “Land Use Management” & “Transportation,” (all at 5.3%) followed by “Taxes-Federal & Virginia Income” (3.5%).

The Charlottesville Regional Chamber of Commerce is dedicated to representing private enterprise, promoting business and enhancing the quality of life in our Greater Charlottesville communities.  Founded in 1913, today, the Chamber’s more than 1,200 member and affiliate enterprises employ more than 45,000 people in Greater Charlottesville, representing an estimated total payroll of more than $ billion a year.