eye on business
Champions for a Shared Vision
Kris Johnson , AWB President
Ukraine President Volodymr Zelenskyy is already looking ahead at reconstruction and what it will take to rebuild Ukraine ’ s economy after the war with Russia is over .
This might be surprising since Ukraine ’ s war with Russia is not over , but I think it ’ s a sign not only of his supreme confidence in his nation and the eventual outcome , but also a kind of forward-looking leadership that ’ s all too rare .
I heard Zelenskyy speak about reconstruction and the opportunities it will create for American businesses early this year during a meeting of my counterparts from around the country . It ’ s already clear , he said , that rebuilding Ukraine ’ s economy will be the largest economic project of our time in Europe .
The video address was both enlightening and inspirational . Zelenskyy spoke about the war in terms that Americans can relate to , noting the unity between Ukraine , the United States , and other allies , and the resolve that will be required to win .
Anyone who has experienced starting a business , working from morning until night so they can experience a dream coming true , will never forget the effort it takes , he said , adding that it ’ s the same with defending freedom .
The surprise appearance from Zelenskyy at the meeting of the National Association of State Chambers , which was not on our agenda , was no doubt a highlight of the meeting , but I came home with other takeaways from my conversations with chamber leaders , as well .
One of those takeaways is a reminder that we ’ re facing many of the same challenges . Those include workforce and housing shortages , questions about the future of energy , and growing concerns about the potential for a recession .
Nearly three years after the start of the pandemic , this remains a time of uncertainty and anxiety about the state of the economy , both here in Washington and throughout the country . Nearly 30 % of respondents in our latest AWB employer survey said their business was beginning to experience a downturn , a statistic I shared with the group .
Inflation is now the No . 1 concern of Washington employers , just ahead of workforce issues . We are reading reports that inflation may be stabilizing , but few employers have seen that change
yet . In our latest AWB employer survey , only 17 % said they have seen evidence of cooling inflation while virtually every respondent said inflation has increased their cost of doing business . The largest percentage — 38 % — reported cost increases between 11-20 %.
All of this leads me to another takeaway from my conversations with my counterparts : We all agree that now is the time for our organizations to be champions for the economy .
Here in Washington , being champions for the economy means slowing the trajectory of state spending , setting aside resources for a rainy day , and looking for ways to provide targeted tax relief to promote positive outcomes such as doubling the state ’ s manufacturing sector .
It means taking steps now to ensure that Washington has enough affordable , reliable electricity to power our homes and manufacturing facilities in the coming years .
It means addressing the significant housing shortage facing our state .
Ultimately , it means coming together around a shared vision — something we can learn a lot about by observing President Zelenskyy . winter 2023 13