TRENTON – Captains of industry in New Jersey see cause for hope.
According to the annual C-Suite Survey of CEOs, conducted by the Rutgers University Bloustein School, 25 percent of respondents believe New Jersey is a good to excellent place in which to conduct business.
In addition, 28 percent said the state is a good place in which to expand their businesses.
“Confidence in New Jersey as a place to do business continues to improve,” said James W. Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, in a release. “In addition, 36 percent of CEOs participating in the survey expect to increase capital spending here over the next year, continuing a positive upward trend seen in earlier surveys.”
Thirty-four percent said they expect to expand their work force, and 49 percent think economic conditions will improve in the next 12 months.
CEOs still are pessimistic about New Jersey’s business tax and regulatory environments.
The survey was unveiled Tuesday, just days after the state announced its unemployment rate had dropped to 8.7 percent, and that the private sector had added 4,100 jobs in April.