Economic Outlook Conference

The 2021 Economic Outlook Conference, presented by The Topeka Capital-Journal and Washburn University, was held in October. This annual event, held in person this year at the Bradbury-Thompson Alumni Center at Washburn University, has become vital to assessing the health and state of our local economy. Speakers included Jeff Morrison, portfolio manager for Capitol Federal Bank; Trent Armbrust with the Kansas Department of Commerce; and Paul Byrne, professor of Economics at Washburn University’s School of Business.

Byrne shared that in spite of pandemic-related challenges, businesses are still optimistic heading into the first quarter of 2022. GO Topeka’s senior economic advisor, Freddy Mawyin, collaborated with Washburn University this year on a survey to assess expectations about local company sales, profits, and capital expenses. 100 Topeka businesses participated.

Survey results pointed to the resilience of the Topeka and Shawnee County economy, with respondents optimistic about future demand and government policy as the pandemic recedes. 48% of businesses surveyed shared that profits are expected to increase in the next two quarters. Talent attraction rose to the top of concerns of local businesses, reflecting a national challenge in attracting and retaining quality workers. “Overall our results are very good,” said Freddy Mawyin. “Our local businesses are adapting. We expect the labor market to continue to be volatile as we move into 2022, but are confident that the fundamentals of our area economy will continue to position Topeka and Shawnee County for success.”

ABOUT THE SPEAKERS:

JEFF MORRISON, a native of Salina, Kansas, received his Bachelors of Science and Masters in Business Administration from the University of Kansas. He started his career with Commerce Bank and Trust in Kansas City, Missouri working in Trust Operations and later joined Capital City Bank where he helped centralize its credit functions. Upon receiving his MBA, Jeff served in many roles for high tech software and life science businesses while also serving an eight year stint as adjunct professor for the Applied Portfolio Management Program at the University of Kansas School of Business. Prior to joining Capitol Federal® as Portfolio Manager, Jeff spent eight years as the Chief Financial Officer for CritiTech, Inc a drug development and contract development and manufacturing company.

TRENT ARMBRUST

joined the Kansas Department of Commerce in 2019 as Director of Strategy, Biosciences and Technology and was promoted to Chief Strategy Officer in 2021. Trent also oversees the Office of Innovation and implementation of the Framework for Growth, the state’s economic development strategy. Previously Trent spent 7 years at the Manhattan Area Chamber of Commerce where he served as the Director of Economic Development. He earned bachelor’s and master’s degrees in Biology from Kansas State University and a certificate from the University of Oklahoma Economic Development Institute. Trent currently serves as the Chair of the National Bio and Agro-Defense Facility (NBAF) Community Liaison Group and Chair of the Johnson Cancer Research Center Advisory Board. PAUL BYRNE is a Professor of Economics at Washburn University School of Business, where he has taught since 2003. He received his PhD from the University of Illinois at Urbana-Champaign. Byrne teaches Principles of Microeconomics, Microeconomics Analysis, Labor Economics, and Public Finance. His scholarly interests and activities include economic development incentives, tax increment financing, public policy and public finance, and local government.