Economic Confidence Continues to Increase, Long Island Businesses Remain Supportive and Loyal to the Region

HAUPPAUGE, N.Y., Feb. 2, 2016 /PRNewswire/ -- Long Island business leaders expressed an increase in confidence in the economy and therefore want to continue to operate their businesses here, according to results from the 22nd Annual Long Island Economic Survey and Opinion Poll. 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 its annual Long Island Economic Summit, Thursday, February 11, 2016 from 8:00 AM – 10 AM, at the Hyatt Regency Long Island, 1717 Motor Parkway, Hauppauge, NY. Registration and event information is available at http://hia-li.org/event_detail_wf2.cfm?eventid=833.

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Among the survey highlights of the poll conducted in late 2015, respondents indicated:

• 5.1% increase in the National economic confidence rating, from 5.8 to 6.1.
• 7% increase in the Long Island economic confidence rating, increased from 5.7 to 6.1.
• 90% increased prices for products or services in 2015.
• 63% realized an increase in revenue in 2016.
• 63% of respondents project an increase in revenue in 2015.
• 46% of respondents plan to increase headcount in 2016.
• 64% of businesses will not be impacted by an increase in the minimum wage.
• 47% of businesses have some type of succession plan in place.
• 68% have had to alter their retirement plans due to the lingering effects of the 2008 recession.

For the second year in a row, findings indicate the Healthcare industry is forecasted to grow in the number one spot for this year and Technology will be the second largest growth industry on Long Island.  For the last 22 years, the annual poll has been conducted by Albrecht, Viggiano, Zureck & Company, P.C. (AVZ) in partnership with Long Island Business News.

"2015 proved that Long Island businesses are committed to remaining in the region with a substantial increase for Economic Confidence, which this year received its highest rating since the recession began in 2008. The success and longevity of Long Island businesses are so vitally important," said Terri Alessi-Miceli, HIA-LI president. "We welcome all business professionals who would like to learn the next steps to help plan for this year's business economic performance success."

The summit will help measure and assess the Long Island business community based on the AVZ survey and panel discussions on issues including new legislation, the LI housing market, job growth, effects of the confidence ratings and availability of credit to businesses.  The panel will be moderated by Robert Quarte, Managing Partner, AVZ.  Panelists include: Robert Coughlan, Principal, Tritec Real Estate Co. Inc.; Rich Humann, President & CEO, H2M Architects+Engineers; Christine Ippolito, Founding Principal, Compass Workforce Solutions; Kevin O'Connor, President, Bridgehampton National Bank; Dr. Ann-Marie Scheidt, Director of Economic Development, Stony Brook University.

Sponsors of the event include Albrecht, Viggiano, Zureck & Co., P.C (AVZ); Bridgehampton National Bank; Campolo, Middleton & McCormick, LLP; Investors Bank; People's Alliance Federal Credit Union; PSEG Long Island; Ruskin Moscou Faltischeck, P.C.

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.

About HIA-LI

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.

HIA-LI CONTACT:

Terri Alessi-Miceli, 631-543-5355, [email protected]

MEDIA CONTACT:                                          

Lisa Hazen, Communication Strategy Group; 1-866-997-2424; [email protected] 

SOURCE HIA-LI

Related Links

http://www.HIA-LI.org

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