Flooding impact on local Montana businesses, June 2022

Tell the Minneapolis Fed about the affects of flooding on your business and community

We want to know how historic flooding across southern Montana has affected your business.

The Minneapolis Fed is responsible for tracking current economic conditions in the Ninth District, a region that includes Montana. We are partnering with multiple business and economic development groups in Montana to understand the impact of the floods on businesses and their communities across southern Montana.

This information will be shared with partners (that sent you this survey) as well as with local community leaders, state and federal lawmakers, business leaders and media. All of this is being done so Montana leaders and the general public have a better idea of the flood's impact.

Please take 5 minutes to tell us about the flood's impact on your business. All responses are anonymous. To maintain anonymity, please do not include any self-identifying information in any comments.

Thank you for your time and valuable insights. Both are greatly appreciated. We wish you luck and resilience in these challenging times.

Ron Wirtz
Regional Outreach Director
Federal Reserve Bank of Minneapolis
612.204.5262
ron.wirtz@mpls.frb.org

Question Title

* 1. Is your business located in or near an area impacted by recent, significant flooding?

Yes (please continue the survey)

No (you may exit the survey, as we are trying to assess business conditions only in, or near, flooded areas)

Question Title

* 2. Overall impact: What impact has flooding had on your business overall?

	No impact	Slightly negative impact	Moderately negative impact	Significantly negative impact	Hard to tell yet	Positive impact (e.g., from recovery activity, demand shift from other regions, etc)
At this moment; currently	At this moment; currently No impact	At this moment; currently Slightly negative impact	At this moment; currently Moderately negative impact	At this moment; currently Significantly negative impact	At this moment; currently Hard to tell yet	At this moment; currently Positive impact (e.g., from recovery activity, demand shift from other regions, etc)
Expected over the coming 3 months	Expected over the coming 3 months No impact	Expected over the coming 3 months Slightly negative impact	Expected over the coming 3 months Moderately negative impact	Expected over the coming 3 months Significantly negative impact	Expected over the coming 3 months Hard to tell yet	Expected over the coming 3 months Positive impact (e.g., from recovery activity, demand shift from other regions, etc)

Additional comments:

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* 3. Flood impact on revenue: Please estimate the impact of flooding on recent and future sales/revenue.

	Decline of > 50%	Decline of 25-50%	Decline of 15-25%	Decline of 5-15%	Mostly flat (+/-5%)	Increase of 5-15%	Increase of more than 15%
June revenue compared with May revenue	June revenue compared with May revenue Decline of > 50%	June revenue compared with May revenue Decline of 25-50%	June revenue compared with May revenue Decline of 15-25%	June revenue compared with May revenue Decline of 5-15%	June revenue compared with May revenue Mostly flat (+/-5%)	June revenue compared with May revenue Increase of 5-15%	June revenue compared with May revenue Increase of more than 15%	June revenue compared with May revenue
June 2022 revenue compared with same month last year	June 2022 revenue compared with same month last year Decline of > 50%	June 2022 revenue compared with same month last year Decline of 25-50%	June 2022 revenue compared with same month last year Decline of 15-25%	June 2022 revenue compared with same month last year Decline of 5-15%	June 2022 revenue compared with same month last year Mostly flat (+/-5%)	June 2022 revenue compared with same month last year Increase of 5-15%	June 2022 revenue compared with same month last year Increase of more than 15%	June 2022 revenue compared with same month last year
Expectations for July and August revenue compared with same period last year	Expectations for July and August revenue compared with same period last year Decline of > 50%	Expectations for July and August revenue compared with same period last year Decline of 25-50%	Expectations for July and August revenue compared with same period last year Decline of 15-25%	Expectations for July and August revenue compared with same period last year Decline of 5-15%	Expectations for July and August revenue compared with same period last year Mostly flat (+/-5%)	Expectations for July and August revenue compared with same period last year Increase of 5-15%	Expectations for July and August revenue compared with same period last year Increase of more than 15%	Expectations for July and August revenue compared with same period last year

Added comments:

Question Title

* 4. Flood impact on profits: Please estimate the impact of flooding on recent and future profits.

	Deeply negative	Moderately negative	Slightly negative	Little or no change	Modestly positive	Slightly positive	Very positive
June profitability	June profitability Deeply negative	June profitability Moderately negative	June profitability Slightly negative	June profitability Little or no change	June profitability Modestly positive	June profitability Slightly positive	June profitability Very positive
Expectations for next 3 months	Expectations for next 3 months Deeply negative	Expectations for next 3 months Moderately negative	Expectations for next 3 months Slightly negative	Expectations for next 3 months Little or no change	Expectations for next 3 months Modestly positive	Expectations for next 3 months Slightly positive	Expectations for next 3 months Very positive

Additional comments on profitability outlook:

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* 5. Flood impact on capital assets: Please estimate the impact of flooding on your company's physical assets.

	Significant loss	Moderate loss	Slight loss	Little or no loss
Buildings	Buildings Significant loss	Buildings Moderate loss	Buildings Slight loss	Buildings Little or no loss
Equipment	Equipment Significant loss	Equipment Moderate loss	Equipment Slight loss	Equipment Little or no loss
Property/real estate	Property/real estate Significant loss	Property/real estate Moderate loss	Property/real estate Slight loss	Property/real estate Little or no loss

Additional comments on flood asset damage and losses:

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* 6. Financial health: How would you describe your company's current financial condition?

Strong

Good and stable

Good but declining

Poor, but stable

Poor, and declining

Very poor

Added comments:

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* 7. Company challenges: What are the TWO biggest obstacles to recovery for your company? (Please check ONLY TWO options; please skip if not impacted by flood.)

Access to capital/credit

Lack of savings and other resources

Available workforce to run normal operations

Getting supplies necessary for damage repair/cleanup

Getting workers necessary for damage repair/cleanup

Cost of damage repair

Loss of customers

Lack of government support or response

Other (please identify below)

Please specify "other" factors, and offer additional comments:

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* 8. Community challenges: What are the TWO biggest obstacles to recovery for your local community? (Please check ONLY TWO options)

Lack of resources for rebuilding

Rising cost of credit; increasing interest rates

Available workforce to run operations

Getting supplies necessary for damage repair/cleanup

Getting workers necessary for damage repair/cleanup

Cost of damage repair

Loss of customers

Lack of government support or response

Prioritizing infrastructure projects

Other (please identify below)

Please specify "other" factors, and offer additional comments:

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* 9. Labor demand: Please indicate current demand for labor/workforce.

Cutting part-time/seasonal staff

Cutting full-time staff

Cutting part-time and full-time staff

Not hiring

Hiring to fill turnover

Hiring new seasonal and/or part-time staff

Hiring new full-time, permanent staff

Hiring new part-time and full-time staff

Additional comments about flood impact on staffing:

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* 10. Labor availability: If hiring, how would you assess current ability to find and hire new workers?

Extremely difficult

Moderately difficult

Slightly difficult

Not difficult

Not hiring

Please elaborate: Has labor availability changed notably because of the flood?

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* 11. Wages: Please describe changes to average wages at your business, and expected changes to wages over the coming year.

	Wage cut (any size)	Little or no change (+/- 1%)	Increase of 1-3%	Increase of 3-5%	Increase of 5-10%	Increase > 10%
Current wages compared with 12 months ago	Current wages compared with 12 months ago Wage cut (any size)	Current wages compared with 12 months ago Little or no change (+/- 1%)	Current wages compared with 12 months ago Increase of 1-3%	Current wages compared with 12 months ago Increase of 3-5%	Current wages compared with 12 months ago Increase of 5-10%	Current wages compared with 12 months ago Increase > 10%
Expected over the coming 12 months	Expected over the coming 12 months Wage cut (any size)	Expected over the coming 12 months Little or no change (+/- 1%)	Expected over the coming 12 months Increase of 1-3%	Expected over the coming 12 months Increase of 3-5%	Expected over the coming 12 months Increase of 5-10%	Expected over the coming 12 months Increase > 10%

Please elaborate on recent/expected wage actions:, particularly any stemming from flood impact:

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* 12. Supply chain: How would you describe your company's ability to receive critical supplies for your operations?

	No difficulties	Slight difficulties	Moderate difficulties	Significant difficulties	Extreme difficulties
Before the flood	Before the flood No difficulties	Before the flood Slight difficulties	Before the flood Moderate difficulties	Before the flood Significant difficulties	Before the flood Extreme difficulties
Currently	Currently No difficulties	Currently Slight difficulties	Currently Moderate difficulties	Currently Significant difficulties	Currently Extreme difficulties
Expected in three months	Expected in three months No difficulties	Expected in three months Slight difficulties	Expected in three months Moderate difficulties	Expected in three months Significant difficulties	Expected in three months Extreme difficulties

Please describe product shortages and source of difficulty (if known):

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* 13. Outlook: What is the outlook for your company over the coming six months?

Likely to go out of business

Very pessimistic

Somewhat pessimistic

Neutral/treading water

Somewhat optimistic

Very optimistic

Don't know

Please elaborate on your outlook:

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* 14. Staffing levels: Please identify the number of full-time equivalent workers at your business.

Sole proprietor

1 to 10

11 to 50

51 to 250

more than 250

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* 15. In what county is your business or organization physically located?

Carbon

Gallatin

Madison

Park

Stillwater

Sweetwater

Yellowstone

Other (please specify)

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* 16. In what sector does your company or organization do business?

Accommodation, food/drink service

Ag & natural resources

Construction

Entertainment/recreation/tourism

Finance, insurance & real estate

Health care

Manufacturing

Nonprofit

Professional, scientific & technical services

Retail

Transportation, distribution, warehousing

Other - please specify

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* 17. Please check any/all that apply to your company's ownership:

Minority owned (race/ethnicity)

Woman owned

Veteran owned

Other/none of the above