Executive Summary
This report highlights the findings of the 2003 Dane County Economic Survey, which was conducted by the A.C. Nielsen Center for Marketing Research in November 2003. The survey was sent to 3706 businesses in Dane County with five or more employees. It was sent to participants with the title of CEO, CFO, President, and/or business owner. The survey asked questions regarding eight key economic indicators in each of the following areas:
- Sales Revenue
- Profitability
- Production/Operating Costs as a % of Revenue
- Capital Expenditures
- Production/Office Space
- Number of Employees
- Overall Wage Change
- Operating Capacity
452 responses received within the stipulated time --135 online and 217 fax/mail. Of those, there were a total of 382 respondents that had fully completed the questionnaire, with the exception of the capital expenditures section, which received 353 responses. This sample size has an error range of .05. Significant differences noted in this report are at the 95% confidence level.
Topline Results:
Overall, the economy of Dane County will improve in 2004. When compared to 2003, companies are predicting bigger increases in revenues and profits, and more capital spending. In the employment area, fewer companies are predicting workforce reductions and more companies are predicting workforce increases. Most employers are expecting to increase wages in the range of 1-3% and fewer will be reducing overall wages.
Between segments, the service sector appears to be doing better than the retail sector in Dane County, especially in the areas of capital expenditures, number of employees, and wages. Across geographic markets, companies operating in Dane County exclusively are not doing as well as companies that operate in broader National/International markets.
