Business leaders in Montgomery have rarely been more optimistic about the next few months than they are now, according to a quarterly survey by the University of Alabama s Center for Business and Economic Research.
The area s business community led the state in confidence about the first quarter of 2021, and that optimism jumped again for the second quarter. The overall business confidence here hit 63.8 for the second quarter, which is the fifth-highest level recorded for the Montgomery area in the survey s 14-year history.
A rating above 50 means that businesses expect growth.
Still, that was only good enough to tie with Huntsville for the fourth-highest rating in the state among metro areas. The state as a whole soared to an average confidence level of 64.3, and Tuscaloosa led all metro areas with a rating of 65.6.
Alabama recovering from COVID faster than other states, economy shows
Updated Mar 11, 2021; to reflect on the 1-year mark of the COVID-19 pandemic reaching Alabama. Each day leading up to March 13 we will elevate the voices of those impacted.
A year ago Alabama was one of 50 states dealing with a titanic blow to its economy - a nearly 30-percent drop in its gross domestic product in one quarter - as the coronavirus lockdown brought whole segments of the economy to a halt.
Stores and shopping centers closed. Restaurants shuttered. Hundreds of thousands of Alabamians were laid off or temporarily lost their jobs. Entire offices moved their activity online as workers stayed home.
Report: Montgomery has highest business confidence rating in the state
Report: Montgomery has highest business confidence rating in the state By WSFA Staff | March 2, 2021 at 9:41 PM CST - Updated March 2 at 10:23 PM
MONTGOMERY, Ala. (WSFA) - Montgomery is leading the state in a business confidence rating.
The Alabama Business Confidence Index has Montgomery topping all other cities in the state in the first quarter of 2021.
The index comes from the University of Alabama’s Center for Business and Economic Research.
Montgomery outperformed the other cities with a score of 58.6 for 2021′s first quarter. According to the report, this index is 2.9 points below the metro’s fourth quarter in 2020 and “indicates expectations for a continuation of economic growth.”
Alabama News
Business leaders in Montgomery are Alabama’s most optimistic for growth and success.
According to the Alabama Business Confidence Index (ABCI), a quarterly survey conducted by economists at The University of Alabama’s Center for Business Economics and Research, business leaders in all five of state’s largest metro areas feel hopeful about economic growth in the first quarter of 2021.
Montgomery garnered the highest metro ABCI, which was driven by very strong confidence among job creators in expectations for increased sales and profits in the coming months.
“This report is encouraging, and it shows we are cultivating a climate where businesses not only survive but thrive, even amid a global pandemic,” Montgomery Mayor Steven L. Reed said. “My administration is committed to continuing our work by building out a more equitable and inclusive support system that encourages participation by minority-owned and women-owned small businesses.”
The Alabama Provider Capacity Project held both an in-person and virtual focus group last week in Etowah County to discuss the impact of substance abuse within the community.
Representatives from the David Mathews Center for Civic Life, the Behavioral Health Group and New Life for Women met during the focus group to discuss the barriers for treatment for substance abuse, what substances they are seeing in their centers and the various resources available to those who deal with addiction.
Because of privacy and confidentiality within the focus group, the names of those who participated were not disclosed, and specific details about conversations within the group also were regarded as confidential.