Washington-area executives confident in regional economy
- May 4, 2010
The Washington, D.C., area businesses are confident in the region’s current economy and expect conditions to improve, according to a survey by the Greater Washington Board of Trade.
“This is the highest level of economic confidence in Greater Washington’s business community since the beginning of the economic downturn,” Jim Dinegar, president and CEO of the Greater Washington Board of Trade, said in a statement.
The survey showed 68 percent of regional business executives responding to the survey said current business and economic conditions were “mostly good” while 16 percent said “mostly bad.” Th e positive response represents a 40 percentage point jump from a survey in February 2009.
In addition, 49 percent of those surveyed said their company’s financial situation was better than a year ago, while 30 percent said it had stayed the same and 20 percent said it had declined.
Most of those surveyed expect business to improve. Seventy-three percent of respondents expected revenue to increase while only 7 percent think it will decrease.
The survey also highlighted concerns among regional business leaders. About 58 percent of respondents said they are concerned about Metro’s safety, although 63 percent said Metro will continue to be an asset to the local economy.
Most business executives (77 percent) are also concerned that state and local budget deficits will hurt the quality of life and competitiveness.
The Clarus Research Group conducted the research for the Greater Washignton Board of Trade with 200 business executives in the Washington, D.C., area.