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Camden technology survey finds weak optimism
Archived article from Oct 18, 2004
By Michael Sepanic
New Jersey’s technology-based companies and organizations are maintaining their strength but losing their optimism for future growth, according to the New Jersey Technology Climate Survey, conducted twice a year by the School of Business at Camden and the New Jersey Technology Council.
The survey asked the state’s tech-oriented companies to rate current economic conditions in the state and to project growth during the next six months. During the next six months, 45% of respondents foresee improving conditions, while 51% predict that the environment will remain the same. Only 4% of those companies surveyed suggest that New Jersey will become more inhospitable for technology-based entities.
While these figures offer no cause for alarm, they do reflect deterioration in the optimism exhibited in the March 2004 survey, which forecast a clear majority of respondents anticipating improved conditions (56%) during the spring and summer. During the July 2003 survey, 49% of respondents predicted improvement during the second half of that year.
The outlook for current conditions in New Jersey’s tech sector continues its upward trend, as it has since the first Rutgers-Camden/NJTC New Jersey Technology Climate Survey in June 2002. Those participating in the September 2004 survey rate the state’s current climate for the tech sector at 64 (out of 100), up modestly from 62 in March.
“New Jersey’s technology industries may be less optimistic for the future, but they continue to enjoy steady growth,” observes Milton Leontiades, dean of the Axhool of Business at Camden. “These survey results suggest good reason for cautious optimism as we head into 2005.”
Complete results from the New Jersey Technology Climate Survey may be found at:
camden-sbc.rutgers.edu/BusinessCommunity/njtech.htm.
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