Economy

Economy
1:07 pm
Wed February 4, 2015

Brownback Calls on Buisness Owners To Expand

Credit Abigail Wilson

Governor Sam Brownback is encouraging Kansas business owners to expand their enterprises and create new ones.

Governor Brownback met with entrepreneurs from around the state yesterday at the annual Small Business Day event organized by National Federation of Independent Business. The association includes 4,000 Kansas companies.

Brownback says the state's economy is still recovering from downturns in small aircraft manufacturing but is on a strong footing for growth.

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Economy
12:03 pm
Thu January 15, 2015

Bombardier Cuts 620 Jobs In Wichita

Learjet 85
Credit wikipedia.org

Bombardier Inc. announced Thursday that it laid off 620 people in Wichita. The layoffs took effect that same morning. KMUW’s Abigail Wilson has more…

Bombardier says it's going to layoff about 1,000 employees from its Learjet business in 2015, including the 620 in Wichita. The Montreal-based company said the cuts are due to weak demand for the Learjet 85 business jet, despite a predicted rebound in the small- and medium-sized business jet market this year.

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Economy
12:00 pm
Wed January 14, 2015

Lower Gas Prices Mean Lower Kansas Tax Collections

Credit Photo courtesy of the Kansas Geological Survey

The recent drop in oil prices is translating into fewer tax dollars collected by the state of Kansas.

State lawmakers are already facing budget deficits reaching hundreds of millions of dollars.

Stephen Koranda reports on the "severance tax" that oil producers pay based on the price of crude oil.

When economists met in November to create a new revenue estimate for Kansas, they used a crude oil price of $80 per barrel.

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Economy
4:05 pm
Wed January 7, 2015

Low Gas Prices Affect Kansas Oil Producers

Credit Edmiston Oil Company

Gas prices are lower than they have been for years. On Jan.7th, you can pay $1.70 a gallon at several Wichita stations. There is hope that low prices will be a boom to the economy, but as KMUW's Aileen LeBlanc reports, the oil industry in Kansas is treading water.

"Kansas operators are price takers, not price makers," Jon Callen, Edmiston Oil Company President, says. "We just have to accept whatever the world price is going to be. If we lost total Kansas (oil) production, the world would never even notice it."

How does that compare globally?

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Economy
12:09 pm
Tue January 6, 2015

Kansas Expected To Add More Than 24k Jobs In 2015

Devlin Hall
Credit wichita,edu

Wichita State University economists expect Kansas to add more than 24,000 jobs in 2015, most of them in service positions.

The university's Center for Economic Development and Business Research predicts slightly more than 1.4 million people will be employed in nonfarm sectors this year.

The expected new jobs represent a 1.8 percent increase over 2014. Employment growth in Kansas is close to the nationwide average.

Last year, employment increased by 1.5 percent across the U.S. and 1 percent in Kansas.

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Economy
11:25 am
Mon January 5, 2015

As Oil and Gas Prices Fall, Kansas Could Face Another Budgetary Challenge

Kansas and other states that receive taxes from the production of oil and natural gas, could face budgetary challenges as prices fall.

Two taxes are tied to oil and gas prices and production: severance and property taxes.

The severance tax is a state levy on minerals extracted from the ground in Kansas, while property taxes are also collected by the state and most local governments on oil and gas wells.

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Economy
2:35 pm
Fri January 2, 2015

Lower Fuel Prices Could Mean Economic Boost For Kansas

Credit Chip Bennett / Flickr

 

A recent report from Creighton University indicates that a nine state Midwestern region will see a boost to their economies in the first half of 2015. As KMUW’s Sean Sandefur reports, Kansas is leading the pack…

 

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Economy
4:42 pm
Tue December 30, 2014

Rates Of Homeless Kansas Public School Students Still On The Rise

Credit aptmetaphor / Flickr

 

The number of homeless students in Kansas public schools continued an upward trend during the 2013-2014 school year, according to a report issued by the Kansas Department of Education. The problem is seen in 155 school districts. 

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Economy
12:33 pm
Mon December 8, 2014

Gov. Brownback Working On Closing State Budget Shortfalls

Governor Sam Brownback isn't publicly ruling out any ideas for helping to close state budget shortfalls.

State officials and lawmakers are speculating about the proposals he's expected to roll out before the Legislature convenes next month.

Governor Brownback's administration is working on a plan to close combined shortfalls of more than $700 million dollars in the current and next state budgets.

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Economy
2:09 pm
Thu December 4, 2014

Economist: Kansas Private Sector Jobs Back At Pre-Recession Numbers

A state economist told a group of Governor Brownback's advisors on Wednesday that Kansas has regained the private-sector jobs it lost during the most recent recession.

However, the state is shifting from employment in manufacturing to services.

Tyler Tenbrink with the Kansas Department of Labor says wages have been rising this year, but haven't fully rebounded from the 2007-09 recession when adjusted for inflation.

Tenbrink says the state should continue to see growth in the number of private-sector, non-farm jobs over the next six to 12 months.

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