“CEOs' confidence in New Jersey as a place to do business continues to improve,” said James W. Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers, which conducts the survey. “In addition, 36% of CEOs participating in the survey expect to increase capital spending here over the next year, continuing a positive upward trend seen in earlier surveys.”

Hughes and Marc D. Weiner, associate director of the Bloustein Center for Survey Research, presented the survey findings at the event. Hughes conductd the survey which targets companies that have headquarters in New Jersey or have deep business roots in the Garden State.

Among other results of the survey:

• Only 16% of respondents said the current state of the state economy is good-to- excellent, while 68% said it is fair; 16% said current state economic conditions are poor.
• 49% said they expect state economic conditions to improve over the next 12 months, and 10% said they expect conditions to worsen.
• 34% said they plan to expand employment in New Jersey over the next 12 months, and 22% said they expect to decrease employment.
• When asked if New Jersey is better or worse than other states in its total tax impact, 2% said New Jersey is better; 86% said it is worse (down from 93% four years ago).

This year's survey included questions about Superstorm Sandy. “Seventy-two percent of respondents said that the storm and the nor'easter that followed a week later hurt their businesses,” Hughes said.

He said that 77% of respondents indicated they are considering changes in risk assessment and disaster preparedness.

The Summit gathering, held at the Bloustein School's Civic Square Building on the Rutgers-New Brunswick campus, is sponsored by the school, Cushman & Wakefield and the New Jersey Business & Industry Association.