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NAIOP: New Jersey Recovery "A Lazy U

WEST ORANGE, NJ-A flat 2011 should lead to strong growth in 24 to 36 months, NAIOP NJ told at a mid-year economic roundup.

By Debra Hazel | Updated on June 21, 2011

WEST ORANGE, NJ—Boosted by a business-friendly government, the continuing recovery in New Jersey will be a “lazy U,” with a flat 2011 leading to a strong bounceback in 24 to 36 months, panelists said at a NAIOP NJ mid-year economic overview here. The growing need for data centers and distribution state should help the state, even as potential employers hire fewer employees and need less space for  those they retain.

“Business owners attitudes are changing,” said Thomas Geisel, president of Sun National Bank, Vinelad, NJ. “Hopefully in 12 months, we’ll be climbing up the U. But it will only be one third of the way.”

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