News Article

Survey Shows NJ Business Outlook Improving

By Phil Gregory, WBGO News
Ternton. November 20, 2012

Listen to Report

Article image
New Jersey Business and Industry Association President Phil Kirschner details the survey findings (photo by Phil Gregory)

A survey of businesses shows the outlook for New Jersey’s economy is positive for the first time in eight years.

Almost half of the companies polled by the New Jersey Business and Industry Association anticipate higher sales next year.

Association President Phil Kirschner says about one in five businesses expect to hire additional workers.

“I think you are seeing the recovery picking up steam and businesses are gaining more confidence. I also think businesses like the direction that the state is heading. The business climate is improving.”

Kirschner says the state has made improvements on a variety of issues important to business.

 “The majority of companies now say New Jersey is the same as or better than other states in its attitude toward business, attracting new business, controlling government spending, the timely issuance of permits, promoting economic development, and controlling energy costs.”

Companies identify their biggest concerns as the cost of health insurance and property taxes.

The survey was conducted about a month before Hurricane Sandy. Kirschner does not expect the storm will have a long-term effect on most of the state’s businesses.

“Once they get everything cleaned up and things like that which is happing now in great amounts, I think the vast majority of those businesses are moving on and still very confidant.”

NPR

Sign-up for WBGO News

Verification