Local businesses express optimism about economy

Survey shows most expect employment to stay stable

In the Capital District, 89.7 percent of the businesses see a bright future ahead for the area's economy, according to a study released by SUNY Albany School of Business and Marvin and Company, an accounting and consulting firm.

According to the study, almost 90 percent of local businesses either expect to increase or keep the same number of workers in the coming year.

The Annual Business Climate Survey, now in its 24 year, was developed to respond to local business chambers and clients looking to see an overall assessment of the regional business marketplace and how it will affect their expansion.

Local chambers, including the Bethlehem Chamber of Commerce, the Chamber of Schenectady County, the Guilderland Chamber of Commerce, the Chamber of Southern Saratoga County, the Saratoga County Chamber, Colonie Chamber of Commerce and the Albany-Colonie Chamber of Commerce members responded to a questionnaire asking business owners their feelings about the economic climate in a multiple choice survey. Questions included the estimation of gross sales in 2010, ranking major concerns in order of importance, the optimism of the economy since the 2009 holiday season and characterizing the Capital District's economy overall.

The news that area businesses hope to see stability in employment is a welcome sign of optimism during a period stagnant movement in the economy, said Peter Aust, of the Southern Saratoga Chamber.

He said his chamber members are confident that employment will stay stable in the coming year.

It's a good sign that there is some optimism in our region, said Aust.

Aust also said that companies in the construction and service industry have already seen an impact from the construction and work on the future GlobalFoundaries site in Malta.

"We feel very confident that our unemployment will decrease as the year progresses and we go into 2011," said Aust.

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