APPLETON, WI (WTAQ-WLUK) — Overall findings in the Fox Cities Chamber’s annual Economic Outlook Survey shows businesses have a generally positive outlook.
In the chamber’s survey of 140 businesses across the Fox Cities, 55% believe the region’s economy will grow this year, while another 39% expect stability.
Laura Wiegert with the Fox Cities Chamber believes businesses are being cautiously optimistic about the national economy, with 62% of businesses not planning capital expansions for 2025.
“People are probably taking more of a ‘Let’s wait and see’ kind of attitude,” said Wiegert.
Kara Manuel, who owns Lillian’s of Appleton in the heart of downtown, also says she has that same level of optimism.
“I think people are being a little cautious as far as their shopping; certainly with grocery prices and gas prices and all the things we need to have. Sometimes, shopping tends to be at the bottom of the list,” said Manuel.
More than 60% of responders expect employment to be the same as last year, with another 30% expecting to add employees.
But Wiegert points out businesses are still struggling to find qualified talent.
“It’s related to things like affordable housing, and we also find that childcare has been an issue,” said Wiegert.
Business leaders agree it’s crucial for all businesses to succeed for the area to thrive.
“Whether you’re small, mid or a large size business, every size business is critical to the economic success,” said Wiegert.
“There’s a lot of space and a lot of places for growth so, our hope is that those do fill in. Retail would be great, restaurants would be great,” said Manuel.
