|By PR Newswire||
|January 20, 2014 10:37 AM EST||
HAUPPAUGE, N.Y., Jan. 20, 2014 /PRNewswire/ -- Long Island businesses bounced back during 2013 in a stunning economic turnaround they expect to continue into 2014, according to results from the 20th Annual Long Island Economic Survey and Opinion Poll. More than 60 percent of the respondents, business owners and executives on Long Island, reported an increase in revenue in 2013 which they project to repeat this year. The annual poll, now in its second decade, is conducted by Albrecht, Viggiano, Zureck & Company, P.C. (AVZ) in partnership with Long Island Business News. A panel of Long Island business and government leaders will discuss the survey findings as HIA-LI, the recognized voice for business on Long Island, hosts the Long Island Economic Summit, Wednesday, February 5, 2014 from 8:00 AM – 10 AM, at Islandia Marriott Long Island, 3635 Express Drive North, Islandia, NY. Registration and event information is available at http://hia-li.org/event_detail_wf2.cfm?eventid=469.
"Long Island business owners and executives reported the highest levels of local and national economic confidence in the past six years. It is a testament to their ability to renew, reinvent and rebuild their businesses," said Terri Alessi-Miceli, HIA-LI president. "We welcome attendees to our annual economic summit where they will be able to compare their results to their peers. As always, the information presented helps to set a benchmark for the year's business economic performance."
"Each year, for the past two decades, the responses to our economic survey have served as a barometer for the sentiments of the Long Island business community. This year the business community appears to be more optimistic than it has been since the beginning of the recession which is a very encouraging sign," said Robert Quarte, a partner at AVZ. "We look forward to the event hosted by HIA-LI where we will provide greater detail and discussion around the survey findings."
Ken Adams, president and CEO of Empire State Development Corporation (ESDC) and Commissioner of the New York State Department of Economic Development will open the summit by detailing NYS initiatives impacting Long Island.
The summit will help gauge the pulse of the Long Island business community based on the AVZ survey and panel discussions on issues including new legislation, job and industry growth, availability of business credit and the LI housing market. The panel will be moderated by AVZ's Quarte. Panelists include: Kevin O'Connor, President & CEO of Bridgehampton National Bank; James Pratt, Chairman of Pratt Brothers, Inc. & Chairman of the Long Island Contractors' Association; Gary Schacker (SIOR), Principal of United Realty & President Commercial Industry Brokers.
Among the survey highlights of the poll conducted in late 2013, respondents indicated:
- Long Island economic confidence increased from 4.9 to 5.6 points.
- National economic confidence increased from 4.7 to 5.5 points.
- 44% of respondents say current business is better now than prior to 2008.
- 63% realized an increase in revenue in 2013, up significantly from 46% in 2012.
- 60% of respondents project an increase in revenue in 2014.
- 33% experienced an increase in headcount during 2013.
- 94% of respondents project headcount will either remain steady or increase in 2014.
- 67% believe we will experience another financial crisis within the next five years.
Sponsors of the event include Albrecht, Viggiano, Zureck & Co., P.C.; Bridgehampton National Bank; Campolo, Middleton & McCormick, LLP and People's Alliance Federal Credit Union.
About the Long Island Economic Survey and Opinion Poll
The Long Island Economic Survey and Opinion Poll is conducted by Albrecht, Viggiano, Zureck & Company, P.C. (AVZ) in partnership with Long Island Business News.
HIA-LI helps Long Island businesses prosper. For over 30 years, we have been the recognized voice for business on Long Island and a powerful force and economic engine for regional development. We provide a forum for business leaders to network, problem solve and obtain advice on critical issues facing their businesses. Our member companies represent tens of thousands of business professionals. We're headquartered in and support one of the largest industrial parks in the United States. HIA-LI programs and events promote strategic partnerships, targeted networking, and information sharing and business advocacy. Members benefit from our committees, educational programs, career resources, research capabilities, mentoring opportunities and business advisory services. For more information, visit http://www.HIA-LI.org or call 631-543-5355.
Terri Alessi-Miceli, 631-543-5355, [email protected]