The Federal Reserve System is the central bank of the United States. Its mandate is to promote the effective operation of the U.S. economy. Sometimes such high-flying agencies or policy influencing organizations can feel detached from the day-to-day experiences that make up the High Country economy. However, the Federal Reserve uses a network of economists and data analysts to ensure the voice of Main Street is being heard and helping inform Federal policy and direction.

On this week's Mind Your Business, we visit with Bethany Greene, Regional Economist for the Charllotte Branch of the Federal Reserve Bank of Richmond. Bethany monitors regional economic trends through data analysis and engagements with the business community in North and South Carolina.

We'll discuss the role of the Fed, and how they extract data from locations across the region in a manner that ultimately shows up in policy shaping discussions. We'll also talk about the recent transition of Fed Chair Kevin Warsh, what Western North Carolina can expect, economically speaking, as we move further away from the physical impacts of Hurricane Helene, and what's on the horizon in terms of economy shaping influences.

Mind Your Business is written and produced weekly by the Boone Area Chamber of Commerce. This podcast is made possible thanks to the sponsorship support of Appalachian Commercial Real Estate.

Catch the show each Thursday afternoon at 5PM on WATA (1450AM & 96.5FM) in Boone.

Support the show

It's been almost 21-months since Hurricane Helene's impact was felt across Western North Carolina. While the region has largely recovered from some of the notable physical aspects of the story, the economic recovery will be going on for quite some time.

Last week, Governor Stein's Advisory Committee for Western North Carolina recovery met in Boone, where the draft version of the region's Long-Term Economic Recovery plan was discussed. While the full version has not yet been released, valuable feedback came from this discussion that will inform the full report, set to be released later this fall.

On this week's Mind Your Business, we visit with Sharon Decker, Governor Stein's Senior Advisor for WNCs Long-Term Recovery. She and the GROW NC team have been hard at work, collecting data and experiences from across the region, with the goal of leaving Western North Carolina in a stronger position than what existed pre-Helene. We'll discuss how this plan will be communicated and how existing assets can prepare the region for economic growth in popular sectors.

To advance this work, it's been made abundantly clear from lawmakers at the State and Federal level that additional funding will be required. Earlier this week, Senator Ted Budd testified before US Senate colleagues, and we'll hear exactly what he shared as he works to keep the voice of Western North Carolina alive in Congress.

Mind Your Business is written and produced weekly by the Boone Area Chamber of Commerce. This podcast is made possible thanks to the sponsorship support of Appalachian Commercial Real Estate.

Catch the show each Thursday afternoon (except this week) at 5PM on WATA (1450AM & 96.5FM) in Boone.

Support the show

It doesn't take long to think about someone in your life that has stayed in the working world for longer than they may have liked. The retirement dream and target has changed a lot over the years, and that exit from the daily grind becomes more complicated when retiring from a business you own, and that entity has a less than certain future. How do you step away while still providing employment opportunities for your team? How do you get the full value for decades of hard work?

On this week's Mind Your Business, we unlock Employee Ownership, not only as an exit strategy for business owners, but also as an employee incentive for small businesses that dream of seeing their company and its culture survive for generations. Illa Burbank, Executive Director of the North Carolina Employee Ownership Center (NCEOC) is our guest this week, and she'll help provide a definition to employee ownership as we explore the different tools within this strategy. We'll also talk about how entrepreneurs can use this ownership system at the start of their business journey, giving them more options for their eventual exit.

The NCEOC is hosting the North Carolina Business Continuity & Employee Ownership conference in Raleigh on Wednesday, September 16th, where business owners can learn more about these strategies, and how employee ownership can be positioned as a unique employee retention incentive.

Following up on last week's episode, we'll give you the details about a major grant announcement that will have an impact on Western North Carolina's long-term economic recovery from Hurricane Helene.

Mind Your Business is written and produced weekly by the Boone Area Chamber of Commerce. This podcast is made possible thanks to the sponsorship support of Appalachian Commercial Real Estate.

Catch the show each Thursday afternoon at 5PM on WATA (1450AM & 96.5FM) in Boone.

Support the show