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2010.05.10 EDA Packet
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2010.05.10 EDA Packet
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Meeting Date
5/10/2010
Document Type
Agenda/Packets
Commission Name
EDA
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Seventy-six percent of the participating the businesses surveyed intend to <br /> businesses are locally owned with one decrease their work force in the next <br /> location and eight percent are locally three years. Roughly one-fifth of <br /> owned with multiple locations. One businesses expect to add employees in <br /> conclusion that can be drawn from these select job categories in the next three <br /> results is that many decisions regarding years. <br /> Hugo businesses are made locally. <br /> Overall, the survey results indicate that <br /> The businesses visited employ a total of businesses in Hugo are hopeful for the <br /> 599 full-time employees and 224 part- future. As shown in Figure 2, only one <br /> time employees. Overall, employment of the responding businesses indicated <br /> is down 220 jobs from three years ago. that they are considering closing and <br /> Full-time employment is down 324 jobs none are contemplating downsizing. <br /> while part-time employment is up 64 Nearly a quarter of the businesses (24 <br /> jobs. This downturn is consistent with percent) are considering expanding at <br /> the economic recession experienced in their current location and another <br /> the United States during this time thirteen percent in another location. The <br /> period, although it looks like the majority of businesses indicated they <br /> participating Hugo businesses took a were not currently considering any <br /> harder hit. Businesses appear to changes. <br /> believe that the recession's effects are <br /> waning for their businesses. None of <br /> Figure 2: Future Plans <br /> No Changes Planned !€ ' Pa <br /> i <br /> Expanding at This Location i <br /> Other Changes <br /> Expanding at Another Location <br /> Merging <br /> Moving j <br /> Selling I <br /> Closing 1 <br /> 1 <br /> Downsizing <br /> l <br /> 0 2 4 6 8 10 12 14 16 <br /> ©2010 Regents of the University of Minnesota. All rights reserved. <br /> 6 <br />
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