Economic Indicators:

An Update for the 7 Rivers Region

The views expressed today are my own,

they probably do not reflect the views of

the sponsors, and as will become

apparent probably not my employer, or

anyone else for that matter. Complaints

can be emailed too:

brooks.tagg@spam.uwlax.edu

Standard Disclaimer:

-6.0

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

12.0

0 3 6 9 12

Cumulative Quarterly Decline in GDP from Peak

1981

2001

1991

2007

-20%

-15%

-10%

-5%

0%

5%

10%

15%

1991 1993 1995 1997 1999 2001 2003 2005 2007 2009

Change in Recession Index - Jackson County

Contracting

Expanding

Recession Index ©

Jackson

Juneau

Lacrosse

Monroe

Trempeal…

Vernon

National

1991 1993 1995 1997 1999 2001 2003 2005 2007 2009

$75,000

$100,000

$125,000

$150,000

$175,000

1997-Jan 1999-Jan 2001-Jan 2003-Jan 2005-Jan 2007-Jan 2009-Jan

Average Price of Single Family Homes Sold in 7 Rivers Region

0

200

400

600

800

1,000

1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010*

Foreclosures Filed in Jackson, Juneau, La Crosse, Monroe, Trempealeau, Vernon

Counties

0

100

200

300

400

500

600

700

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Total Eviction Filings in Jackson, Juneau, La Crosse, Monroe, Trempealeau, Vernon

Counties

Source: Professor Russ Kashian Director of the FERC at the University of Wisconsin-Whitewater, and the University of Wisconsin - Extension

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

Jan-99 Jan-01 Jan-03 Jan-05 Jan-07 Jan-09

Number of Building Permits in La Crosse MSA

Total Permits

Single Unit Permits

0%

25%

50%

75%

100%

Percent of unemployed by unemployment duration

< 5 Weeks

5 to 14 Weeks

15 to 26 Weeks

> 26 Weeks

Source: BLS

-7

-6

-5

-4

-3

-2

-1

0

1

1 4 7 10 13 16 19 22 25 28 31

Cumulative Employment Loss From Peak

MN

WI

- 10 20 30 40 50

very satisfied

somewhat satisfied

somewhat dissatisfied

very dissatisfied

When it comes to your current job security, are you...

National

7 Rivers Region

- 10 20 30 40 50 60 70

Pretty much hit the bottom

Still a ways to go

Other

Thinking about the country's economic conditions...

National

7 Rivers Region

Paul Seabright - Company of

Strangers

Politicians are in charge of the modern economy in much the

same way as a sailor is in charge of a small boat in a storm.

The consequences of their losing control completely may be

catastrophic(…) but even while they keep afloat, their

influence over the course of events is tiny in comparison

with that of the storm around them. We who are their

passengers may focus our hopes and fears upon them, and

express profound gratitude toward them if we reach harbor

safely, but that is chiefly because it seems pointless to thank

the storm.

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

Feb. '08 Jun. '08 Oct. '08 Feb. '09 Jun. '09 Oct. '09 Feb. '10 Jun '10

Total U.S. Light Vehicle Retail Sales (SAAR, Mil. Units)

Domestic

Imports

Cash for Clunkers

0 2,000 4,000 6,000 8,000 10,000 12,000 14,000

IllinoisCalifornia

New JerseyNew York

FloridaConnecticut

North CarolinaPennsylvania

GeorgiaMinnesotaWisconsin

OhioMassachusetts

ArizonaWashington

MarylandMichiganColorado

NevadaVirginia

South CarolinaIowa

TennesseeMaine

OklahomaMississippi

UtahKentuckyAlabama

HawaiiRhode Island

DelawareKansas

VermontNebraska

New MexicoIndiana

New HampshireWyoming

West VirginiaD.C.

South DakotaIdaho

FY 2011 Projected Budget Shortfalls in Millions

See Handout

$1,573

$1,352

$1,273

$0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500

D.C.New Jersey

WyomingConnecticut

New HampshireNew York

Rhode IslandVermont

MassachusettsIllinoisFloridaMaine

WisconsinAlaska

CaliforniaMichiganNebraska

TexasVirginia

US Ave.Kansas

MinnesotaColorado

IowaNevada

PennsylvaniaMontana

WashingtonOhio

MarylandNorth Dakota

OregonIndiana

South DakotaGeorgiaArizonaHawaii

South CarolinaMissouri

North CarolinaUtah

MississippiIdaho

TennesseeDelaware

West VirginiaKentuckyLouisiana

OklahomaNew Mexico

ArkansasAlabama

2008 Per Capita Property Tax Collection

0% 10% 20% 30% 40% 50%

MarylandOregon

MassachusettsNew York

North CarolinaConnecticut

KentuckyMinnesota

VirginiaOhio

CaliforniaIdaho

DelawareUtah

MissouriWisconsin

PennsylvaniaMaine

GeorgiaColorado

IowaMontana

D.C.Arkansas

KansasWest Virginia

IndianaNew Jersey

NebraskaHawaii

AlabamaOklahoma

Rhode IslandSouth Carolina

VermontMichigan

IllinoisLouisiana

MississippiNew Mexico

ArizonaNorth Dakota

New HampshireTennessee

FloridaTexas

South DakotaWyoming

NevadaWashington

Alaska

Revenue From Income Tax FY08

0% 10% 20% 30% 40% 50% 60% 70%

WashingtonTennessee

NevadaSouth Dakota

LouisianaHawaii

ArkansasArizona

MississippiFloridaTexas

AlabamaNew Mexico

OklahomaUtah

GeorgiaWyomingKentucky

West VirginiaIndiana

MissouriIdaho

South CarolinaColorado

KansasNorth Carolina

IllinoisNebraskaMichigan

IowaOhio

MinnesotaNorth Dakota

VermontPennsylvania

CaliforniaMaine

Rhode IslandWisconsin

VirginiaD. C.

ConnecticutMarylandNew York

New JerseyMassachusetts

New HampshireMontana

DelawareOregonAlaska

Revenue From Sales Tax FY08

Jim Wood

James

Buchen

Panelists

Questions are drawn from proposals in the

Blue Print for Change. They can be found

on page 11 in your booklet.

Q1. How can the 7 Rivers Region alter its

tax structure to collect the same

revenue, but improve the economic

climate?

Q2. What reform will help our region most

effectively create and retain college

graduates?

Q3. How can we identify and eliminate

ineffective local public expenditures?

Q4: How can the state best align income

taxes with its desire to grow, expand and

attract business and create jobs? (page

27 of Blueprint).

Q5: How can the state increase its support

for cluster industry, training and

productivity initiatives.

Specifically, enhance existing industry

clusters such as

agriculture, manufacturing, paper, forest

products and tourism and emerging

industry clusters such as high-tech, bio-

tech, business services and IT-enabled

services? (page 10 of Blueprint).

Q6: Should the state create an economic

development investment fund (i.e., a fund

that would invest money in specific

economic enterprises in expectation of a

return on that investment) able to provide

a two to one match for funds raised by

certified regional economic development

entities (i.e., those belonging to the

confederation with certified business

plans).

Thanks