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Show Page The Ogden Valley news Volume XVI Issue XI June 1, 2009 Utah Execs More Optimistic in Latest Zions Bank Quarterly Economic Forecast—Survey panelists advise new entrepreneurs to proceed with caution Executives’ optimism about their companies’ financial futures has increased for the first time in two years, according to the latest findings from Zions Bank’s Utah Quarterly Economic Forecast. The first quarter 2009 survey reveals business leaders’ outlook for their companies’ economic health, workforce size, and anticipated capital spending are also improved this quarter. Conducted by independent research firm, Dan Jones & Associates, the study has gauged the health of Utah’s economy from the perspective of high-level executives throughout the state since second quarter 2006. For the first time, panelists were invited to share advice they would have for someone who wanted to start a business in Utah right now, considering the current economic climate and their own business experience. Roughly onefifth of panelists say now is not the right time: “The current competition levels are way too extreme and profit margins have been taken away. Jobs are being priced just to have work and it is actually costing people to do the work.” But nearly half advise proceeding with caution: “Start small, and test, test, test.” About one-quarter believe this is the right time to take advantage of the market: “Work hard, hire great people, be successful, and help us improve the economy!” The full 16-page report of the first quarter 2009 Zions Bank Utah Quarterly Economic Forecast can be viewed at <https://utaheconomicforecast.com/> Following are additional highlights from the latest study: • The quarterly gauge of optimism (as measured on a 1-to10, very pessimistic to very optimistic scale), based on the M; >7L;DÊJ <EH=EJJ;D past three months, is up 0.36 points. While the current mean score (1Q09: 6.22) may be considered somewhat optimistic compared to the standard set in the initial survey cycle (2Q06: 7.87) which dropped 2.01 points to the survey low established last quarter (4Q08: 5.86), this quarter’s 0.36-point increase represents a 18% recovery of the points lost. • As executives predict their companies’ economic health in the next three months, a higher percentage (1Q09: 41%) expect it will be somewhat or much better than foresee it being somewhat or much worse (1Q09: 18%). • Executives were asked about how the government’s efforts to stabilize the economy will affect their business. Utah executives are a little more likely to see the impact on their businesses as positive (1Q09: 41%) than negative (1Q09: 32%). • The cost of employee health care insurance is the factor of greatest concern for Utah executives, with a mean score of 5.26 (1Q09) on a 7-point scale (not at all concerned to very concerned), and indeed it has ranked first or second for all but one of the 12 survey cycles. In 2006, 1,169 business executives were recruited to form the study panel and to complete quarterly surveys. Business owners and high-level executives are still needed to join the panel and share their confidential views on the economy. Those interested in joining the panel may learn more information at https://utaheconomicforecast.com <https://utaheconomicforecast.com/> . Additional information is available at <http://www. zionsbank.com/> Zions Bank Now Accepting 2009 Smart Women Grant Applications The Zions Bank Women’s Financial Group announces the availability of applications for a series of micro-grants for women. The “Smart Women Grants” are each $3,000, and available to female candidates who excel in a variety of fields. One grant will be offered in each of the following six categories: • Small business start-up and teacher support expansion • Child and elder care • Community development • Health and human services • Continuing education and • Arts and culture Open to female residents of Utah and Idaho, applications are available online at www.smartwomen.zionsbank.com or by calling 1-800-737-6586. Applications are due July 31, 2009. Community peer review panels will select the grant recipients, to be announced in September. Last year’s grant winners included a collaborative project between a media production company and a domestic violence center; a Navajo art and culture program; therapeutic riding facility; quilt-making project for needy kids; refugee daycare facility; health literacy initiative; and an astronomy education project. “We developed the Smart Women Grants to help bolster the efforts of everyday heroines who strengthen our communities in so many ways through their various talents,” said Cece Mitchell, Women’s Financial Group manager. “As the Intermountain West’s premiere financial center for women, the Zions Bank Women’s Financial Group created the grants as an extension of our ongoing commitment to empower women in achieving financial independence.” Priority consideration for funding will be given to proposals that: promote the empowerment of women; emphasize collaboration between women entrepreneurs or non-profit entities supporting women; directly benefit women or low-income and underserved populations; support endeavors that immediately benefit communities in which Zions Bank has a presence; and for proposals that provide a sound plan for measuring performance and results. 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