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Capitol District business confidence returns

Feb 21, 2011 6:33 am
The Albany Business Journal has a story up about how the Capitol District's business community is more optimistic about the economy this year, as 94 percent plan to hire staff or maintain their current headcount, compared to 90 percent in 2010, according to a survey released on Feb. 18. "Forty-nine percent of Albany area companies expect their business to grow in 2011. That’s a sharp increase from two years ago when 28 percent of businesses forecasted growth as the recession forced industries to slash spending survive," reporter Robin K. Cooper writes of the 25th annual Business Climate Survey by Marvin and Co. CPA firm and the University at Albany, which also found that 42 percent of Capital Region companies grew last year, the highest total in three years.


"Private and public investments in technology are beginning to have an impact on the region... The survey showed that 24 percent of companies believe the tech sector is contributing to growth in 2011, compared to 22 percent last year." The survey include a wide range of construction, finance, manufacturing, retail and professional companies. More than half had grow sales of less than $1 million a year and 17 percent expect sales to exceed $5 million this year. Local companies ranked the high cost of health care as their primary concern in 2011. It was the 15th year out of the past 16 that health care took top billing. The lingering recession was the second biggest worry, followed by taxes and government regulations.
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