Northeast execs bullish on job growth, technology
The chief area of concern among Northeast executives is regulatory compliance, including to the laws crafted at the Massachusetts State House.
A new study by the the Employers Association of the NorthEast shows regional executives are more bullish about job growth than the national average. They also have plans to invest in new technology in 2016.
According to the study, the major area of concern among executives in Massachusetts, Connecticut and Rhode Island is regulatory compliance. In comparison to the national average, Northeast companies view the cost of regulatory compliance as a greater challenge, both in the short term and long term. The data shows 32 percent of the Northeast regional responses expressing concern in the short term vs. 27 percent nationally. Long term, 42 percent regionally see regulatory compliance as a serious challenge versus 34 percent nationally.
The study said there appears to be a greater consensus on the part of Northeastern business to invest in technology equipment, lean and other process improvements as well as invest in training. Overall, 70 percent surveyed in the Northeast said they would be making new investments in 2016 versus 62 percent nationally. Also, while the majority of surveyed executives indicated that they would be increasing staff in 2016, a greater percentage of Northeastern executives (59 percent) plan on adding staff when compared to the national norm of 52 percent.
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