New Jersey Businesses Optimistic In New Survey [AUDIO]

New Jersey CEO's are feeling increasingly optimistic about the state's economy and business climate, according to results of the 2012 C-Suite Survey of business owners.

"23 percent said New Jersey is now a good place to do business compared with 15 percent in 2011" said James Hughes, Dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University and who conducted the survey.

Businesses attitudes are also good when it comes to expansion, with 24 percent of the 274 CEO's surveyed saying the state is a good place to grow, up 17 percent who expressed that view last year.

"What we have seen over the past three years is marked improvements in the perception of the New Jersey economy...whether its increasing the number of employees in the coming year, what the expectations are for the state's economy are over the coming year" said Hughes.

When asked to rate New Jersey's attitude toward business, CEOs' were equally as positive as they were in the 2011 survey, with 48 percent saying New Jersey is encouraging or helpful.

This represents a dramatic improvement from the findings of the fall 2009 C-Suite survey, when just 31 percent of CEOs said the state was helpful in its attitude toward business.

But Hughes cautions that all is not well, particularly when it comes to New Jersey's tax structure.

"When asked how New Jersey compares to other states in terms of business taxes and the like, 83 percent said we are worse."

He also said while companies believe the state is headed in the right direction, some believe there are still local, state and national factors such as mounting debt that may impact progress.

However, looking ahead to the future, 59 percent of businesses said they expect state economic conditions to improve over the next twelve months.

"While the work of the Governor and the Legislature must continue, this year's C-Suite survey offers strong evidence that businesses are pleased with the new direction in which this state is headed" said Phil Kirschner, President of the New Jersey Business and Industry Association.