(Businesswire)–A recent survey of Southern California technology executives shows that a sense of optimism has resumed as most believe the worst of the economic decline has passed, with 82 percent of respondents expecting some level of growth in 2010.
When asked whether the industry has passed through the worst of the economic decline, 48 percent of respondents replied yes, with 35 percent unsure and only 17 percent replied no. Further evidence of optimism was revealed when 80 percent of respondents believe the forecast for 2010 will improve sometime within the twelve-month period.
However, optimism levels increased in the southern most counties surveyed. Only 36 percent of the respondents from Ventura County indicated that they felt that the worst of the economic troubles were behind us, while in Los Angeles County, 50 percent, and in Orange County 53 percent of participants felt that way.
These are part of the results of a non-scientific survey conducted using the socal TECH.com database of technology executives from Jan. 4 to Jan. 20.
The second annual survey, conducted by The David James Agency, garnered responses from 100 respondents ranging from San Diego County to San Luis Obispo County. Respondents covered the full spectrum of SoCal tech industries, including digital content, Internet and software, to name a few.
As evidence of this renewed optimism, many Southern California technology executives are taking action, with 75 percent of respondents planning to hire new employees in 2010. And while some companies will still need to reduce costs in 2010, a whopping 62 percent of respondents claimed that cost cutting would not be applicable to their company.
“Southern California is one of the top locations for technology companies and I think it will be reassuring to the industry as a whole to see these executives entering 2010 with a greater sense of confidence,” said Ben Kuo, socalTECH founder. “Based on the survey results, it looks like executives are expecting 2010 will be a growth year for the tech industry, which will be welcome news after a tough 2009.”
Last year’s survey was less optimistic as the 2009 survey results showed some level of sales decline had impacted 65 percent of respondents and 71 percent of technology companies had implemented one or more solutions as a way to cut costs.
However, as with the 2009 survey results, most respondents would still recommend Southern California to a colleague to relocate their technology business, citing quality of life as the main reason. Their biggest drawback to working in Southern California is the cost of business, followed by state taxes.
