Economic Confidence Continues to Increase with Long Island Businesses, Companies Maintain Loyalty to Long Island

HAUPPAUGE, N.Y., Feb. 3, 2015 /PRNewswire/ -- Long Island businesses will continue to operate on Long Island, showing increased confidence in the economy, according to results from the 21st 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 the Long Island Economic Summit, Thursday, February 12, 2015 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://www.hia-li.org/event_detail_wf2.cfm?eventid=647.

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Business owners and executives on Long Island represented 57 percent of the respondents who reported an increase in revenue in 2014 and projected continued revenue increases for this year.  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 21 years, the annual poll, has been conducted by Albrecht, Viggiano, Zureck & Company, P.C. (AVZ) in partnership with Long Island Business News.

"The increase in Economic Confidence is the highest rating since the recession began in 2008 and this statistic is so vitally important to the success and longevity of Long Island businesses.  Long Island business leaders are demonstrating their commitment and trust for the success of their businesses by remaining and investing in the region," said Terri Alessi-Miceli, HIA-LI president. "We welcome attendees to our annual economic summit to learn more about this year's results which helps companies on Long Island plan for their business economic performance."

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 AVZ's Robert Quarte.  Panelists include: Dr. Kimberly R. Cline, President of LIU; Kevin Dahill, President of the Nassau Suffolk Hospital Council; Lucy Mazany, Senior Vice President/Group Director of Signature Bank; Dr. Shaun McKay, President of Suffolk County Community College and James Pratt, Chairman at Pratt Brothers, Inc. & Long Island Contractors Association.

Among the survey highlights of the poll conducted in late 2014, respondents indicated:

• 5.5% increase in the National economic confidence rating, from 5.5 to 5.8.
• 2% increase in the Long Island economic confidence rating, up slightly from 5.6 to 5.7.
• 56% of respondents think their current business situation is the same or better now than prior to 2008.
• 57% realized an increase in revenue in 2014.
• 63% of respondents project an increase in revenue in 2015.
• 47% project their net income for 2014 will be higher than 2013.
• 37% experienced an increase in headcount during 2014.
• 92% of respondents project headcount will either remain steady or increase in 2015.
• 47% of respondents believe that the Health Care industry has the greatest growth potential on LI.

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

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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