We asked: What will the impact be of the economy on your particular industry?

Culture
Improve dramatically

Economic development is only possible on a large scale if we invest in quality of life in order to recruit and retain top talent. I believe this will take off in a major way in 2016.

Zachary Mannheimer
Vice president of creative placemaking, Iowa Business Growth Co.

Energy & Environment
Improve slightly  

I’m optimistic that policy and awareness surrounding renewable energy and chemical products will help our industry overall. 

Joe Hrdlicka
Executive director, Iowa Biotechnology Association

Health & Wellness
Improve slightly

It will be relatively minimal. Expansion typically accommodates and stimulates more “employer investment” in benefit offerings, and retraction gives rise to greater pressure on cost containment and expense management, so the current state is unlikely to dictate major changes.

Jim Green
Principal, Mercer

Sales & Marketing
Improve slightly

Historically, presidential election cycles make for nervous citizens and businesses. That depresses the willingness to spend and stymies growth. Ironically, business is always good once the election is over, no matter who wins.

Bruce Hoium
Vice president, Universal Printing Services

Real Estate & Development
Improve slightly

Architecture, engineering and construction will continue to be busy, but they may back down from their current frenzy. There will continue to be supply and manpower challenges in construction.

Matthew McIver
Business developer, INVISION planning architecture interiors

Real Estate & Development
Improve slightly

Office occupancies will continue to rise, with limited new spec space in the central business district and suburbs. Industrial will level off and absorb new and existing space.  Retail will thrive in the right locations. The apartment market will continue to grow. The investment market will continue to thrive as investors look for stable income and decent returns.

Kevin Crowley
Chief operating officer/sales manager, Iowa Realty Commercial

Real Estate & Development
Improve slightly

We entered 2016 with a backlog of work and multiple opportunities to compete for new work in several market types locally and nationally. We wrote a business plan for 2016 that included growth from 2015.  

Phil Hodgin
Partner and principal, RDG Planning & Design

Real Estate & Development
Improve slightly

Our business will continue to improve as the economy in Central Iowa continues to grow and add jobs.

Rick Tollakson
President and CEO, Hubbell Realty Co.

Energy & Environment
Improve slightly

Developers seem to be extremely busy, which creates a lot of opportunities in the environmental field.

Ryan Peterson
President, Impact7G Inc.

Sales & Marketing
Improve slightly

As a marketing agency that has a focused mission of growing our clients’ businesses, our services are in high demand. Whether the broader economy is good, flat or bad, companies still have growth goals to achieve.

Stephen Fry
Chief operating officer and owner, Spindustry Digital

Retail & Business
Improve slightly

Independent retailers and restaurateurs continue to improve as the economy continues to improve. The holiday season in historic Valley Junction was exceptional, record-breaking for several businesses. 2015 was one of the best years, if not the best year for many of those same businesses. The general consumer is steadily understanding that locally owned independent businesses are the lifeblood of our economy, period. When they aren’t supported, they disappear.

Jim Miller
Executive director, Historic Valley Junction Foundation

Real Estate & Development
Remain about the same

The commercial real estate market will remain relatively the same, but construction costs will continue to inflate. This will give developers concern as to whether contemplated new projects will provide a return sufficient to take on the risk.

Blake Brown
Director of sales, Denny Elwell Co.

Real Estate & Development
Remain about the same

A healthy residential and commercial construction economy, along with LED lighting attraction, will continue to promote training for new apprentices, given the lack of existing skilled tradespeople. 

Mike Webster
Vice president of operations, Webster Electric Inc.

Banking & Finance
Improve slightly

There will undoubtedly be lots of noise around the election process and positioning by international allies and foes, but overall, I believe well-managed companies are going to perform very well in 2016 and 2017. BCC Advisers is a diversified investment banking firm, and we anticipate continued growth over the next several years.

Steve Jacobs
President, BCC Advisers

Real Estate & Development
Improve slightly

The growth of new business over the previous years has helped stabilize the overall market. The market has shifted to more of a seller/landlord market, with small pockets that are still struggling to recover. I expect to see new construction in Class A locations and rent growth in these areas. It will also be an attractive year to be a seller, as limited product and low (but rising) interest rates have created substantial demand value to owners.  

Tyler Dingel
First vice president, CBRE|Hubbell Commercial

Manufacturing & Logistics
Remain about the same

I believe that with 2016 being an election year, the stalemate in Washington will continue. Increasing regulations and the strong dollar will serve to keep the manufacturing sector from showing strong growth.

Terry Trosper
President, Advance Machine Technologies Inc.

Real Estate & Development

Remain about the same

In commercial real estate, depending on what asset class you study, the impacts are vastly different. For example multifamily owners will likely see rents decrease for the first time in 5-plus years, while owners of office, industrial and retail buildings have the ability to increase rents.

Tyler Brady
Account executive, CoStar Group

Sales & Marketing
Remain about the same

I do not see much improvement in the grain prices. Being a large farm operation, I do not see it getting better anytime soon.

Robert Hunter
Owner/operator, Grain farming

Banking & Finance
Regress slightly

I think falling oil prices will drive corn prices lower; land values will follow. Rents will lag but will be forced lower over the next year. Ag-related businesses will suffer. Failing overseas markets will continue to keep the dollar strong and hold back exports and keep oil imports flowing. The election year will add great deal of uncertainty, which markets dislike.

Maurie Cashman
President, Aspen Grove Investments Inc.

Law & Government
Regress slightly

I believe the legal market will slow somewhat, including fewer mergers and acquisitions and capital raises, as companies focus on their existing operations and profitability. With that said, I expect innovative, forward-thinking companies to continue to identify opportunities and close deals strategically.

Chris Sackett
Managing member, BrownWinick Law Firm

Real Estate & Development
Regress slightly

I believe it will slow down. The Chinese economy will likely continue to shrink, and this will have a chilling effect on our economic growth here at home. Also, being an election year with no incumbent candidate, there is some trepidation on possible shifts due to having a different president in office.

Joseph Benesh
Senior architect, Shive-Hattery Architecture + Engineering

Health & Wellness
Regress slightly

Medicaid modernization will close our facility and put 38 people out of a job. Modernization will increase the cost of care for our current clients due to relocation and ability to travel to meet client needs.

Anonymous

Sales & Marketing
Regress slightly

I think that wages for workers, including professional and non-C-level managers, will continue to slide and that small business ownership will continue to slide because sustainable income will be too low compared to risk.

Anonymous