Four key business leaders at the Business Record’s annual Economic Forecast luncheon today presented evidence that the 2015 outlook is relatively rosy, with some caveats.

The panel at the Sheraton West Des Moines Hotel featured Debi Durham, director of the Iowa Economic Development Authority; Art Durnev, associate professor of finance at the University of Iowa’s Henry B. Tippie College of Business; Don Pearson, lead regional president at Wells Fargo Bank; and Larry Zimpleman, chairman and CEO of Principal Financial Group Inc.

In response to a question from moderator Janette Larkin, Business Record publisher, Durham, Pearson and Zimpleman said they expect slight improvement in the Iowa economy this year. Durnev predicted a slight weakening, mainly due to deflation pressures in Europe and lower crop prices.

Durham said there is evidence of strength, but clear challenges. “Iowa is doing very well based largely in the diversification of our economy,” she said. “We have much to celebrate, but I will tell you we have some growth challenges.”

In response to a question, Zimpleman predicted that many employers will shift health-care coverage to private exchanges and may move away from using health benefits as a key recruiting tool. He said that was an unintended consequence of the Affordable Care Act. He stressed his comments were not a political commentary.

A total of 340 people attended the sold-out luncheon.

Click here to view a short video in which our panelists react to the opening question.