RI Governor, Providence Mayor And Local Business Leaders Discuss Rhode Island Economy At Santander And Greater Providence Chamber Of Commerce Event - Banco Santander (NYSE:SAN)

Majority of attending corporate executives and business owners believe Rhode Island economy will improve over the next 12 months

BOSTON, April 7, 2015 /PRNewswire/ -- Santander Bank, N.A. and the Greater Providence Chamber of Commerce today hosted their 15^th annual meeting for the business community focused on the region's economic outlook. Over 350 attendees were surveyed in real time regarding their expectations for the local economy in 2015, as well as plans for their respective businesses over the coming year.

"It's important that the leaders making up Rhode Island's economy come together to discuss the opportunities, challenges, and trends that await in 2015," said Mike Lee, a member of Santander Bank's Executive Management Committee and Head of Commercial Real Estate Banking. "Rhode Island's vibrant community has a tremendous amount to offer to businesses and consumers, and we are delighted to bring together leaders to talk about the state's economic future."

Governor Gina Raimondo discussed her jobs plan for the state of Rhode Island and Mayor Jorge Elorza discussed business opportunities for the city of Providence.

"Everyone has a role to play in strengthening our economy," said Governor Raimondo. "I applaud Santander and the Greater Providence Chamber of Commerce for a hosting this event that assembles business leaders from all sectors to discuss the opportunities to foster innovation and economic growth in Rhode Island."

"I am committed to making sure Providence works for those who do business in our capital city," said Mayor Elorza. "Whether it's streamlining permitting or paying bills online, or improving customer service when you visit City Hall – my administration will always strive for improvement. I thank the Greater Providence Chamber of Commerce and Santander for helping to bring us together to discuss ways we can succeed together."

Attendees of the annual Economic Outlook Breakfast responded to a series of economic and business-related questions during a real-time poll.

Fifty-three percent of respondents believe the economy in Rhode Island will improve over the next 12 months while 69% see their own business improving during the same period. The poll was conducted in real-time with attendees using automated response devices. In addition to questions about the U.S. and Rhode Island economies, the survey queried attendees about their local and international business expansion plans, employer hiring plans and top challenges facing regional enterprises.

Following the survey, attendees listened to a panel discussion about regional business issues moderated by Laurie White, president of the Greater Providence Chamber of Commerce. The panel included Joseph Azrack, Chairman of the I-195 Redevelopment District Commission; Scott Jensen, Director of the Rhode Island Department of Labor & Training; Stefan Pryor, Rhode Island Secretary of Commerce; and Ed Tebaldi, Associate Professor of Economics at Bryant University.

About Santander

Santander Bank, N.A. is one of the largest retail banks in the United States by deposits. Its main corporate offices are in Boston and it operates principally in Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. Santander's 9,703 employees serve its 1.8 million customers through the Bank's 703 branches, 2,092 ATMs, call centers, website and mobile app. Supervised by the Office of the Comptroller of the Currency and a member of the Federal Deposit Insurance Corporation, Santander in the United States is a wholly-owned, financially autonomous subsidiary of Banco Santander SAN, a global commercial and retail bank. For more information about Santander, visit www.santanderbank.com or call 877-768-2265.

MEDIA CONTACT:

Nancy Orlando
Public Relations Manager
nancy.orlando@santander.us
617.757.5765

Santander - Greater Providence Chamber of Commerce 2015 Economic Outlook Survey Results

1. Thinking about the U.S. broadly, over the next 12 months how do you think the economy will be in comparison to today?	Responses
Much better shape	5%
Somewhat better shape	58%
About the same	30%
Somewhat worse shape	5%
Much worse shape	1%

2. Thinking only about Rhode Island, over the next 12 months how do you think the economy will be in comparison to today?	Responses
Much better shape	7%
Somewhat better shape	46%
About the same	39%
Somewhat worse shape	7%
Much worse shape	1%

3. Thinking only about your business, over the next 12 months how do you think your business will be in comparison to today?	Responses
Much better shape	17%
Somewhat better shape	52%
About the same	29%
Somewhat worse shape	3%
Much worse shape	0%

4. Thinking only about your business, what are the most challenging issues you expect to face in the next year. Please select up to three.	Responses
Government regulation and uncertainty	43%
Cost of fuel and energy	14%
Cost of employee wages and benefits	40%
Cost of borrowing/interest rates	16%
Customer relations	19%
Sourcing talent and engaging employees	45%
Managing "big data" and cybersecurity	13%
Product and process innovation	17%
Sustainability	15%
Operational excellence	27%

5. Which of the following best describes your hiring plans for the next 12 months?	Responses
Significant increase	3%
Slight increase	54%
No change	38%
Slight decrease	5%
Significant decrease	1%

6. If you plan to hire, what are the most important factors behind this decision? Please select up to three.	Responses
Projected sales growth	43%
Current staffing levels cannot meet demand	43%
Need skills not possessed by current staff	39%
Reasonable labor costs	9%
Government incentives	6%
Economic outlook has improved	24%
Expanding into a new segment or market	35%
Firm's financial health has improved	20%
No plans to hire	16%

7. Which of the following best describes your business's capital expense spending plans in 2015?	Responses
Significant increase	11%
Slight increase	44%
No change	38%
Slight decrease	6%
Significant decrease	2%

8. How likely are you to expand your business outside of the United States over the next year?	Responses
Highly likely	6%
Likely	6%
Not sure	9%
We have no plans to expand our business globally	79%

9. What might inhibit your international expansion plans? Please select up to three.	Responses
Lack of access to local market intelligence in geographic target areas	16%
Securing legal, accounting or financial experts who are experienced in foreign trade	12%
Managing currency risk	10%
Language barriers	11%
Lack of available workers experienced in global trade	9%
Geopolitical risks	8%
We are already fully prepared to expand internationally	6%
Not applicable	68%

10. If the PawSox were to relocate to a new stadium in Providence, would it make you any more or less likely to attend a baseball game?	Responses
Yes, I would be more likely to take in a game	47%
No, I would be less likely to take in a game	14%
Would make no difference	39%

11. Will the Patriots repeat as the Super Bowl champions in 2016?	Responses
Absolutely!!!	43%
Probably, but it will be close	24%
Not sure, the odds are against it	19%
No Way!	15%

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ri-governor-providence-mayor-and-local-business-leaders-discuss-rhode-island-economy-at-santander-and-greater-providence-chamber-of-commerce-event-300062216.html

SOURCE Santander Bank, N.A.

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