Employees and businesses in Longmont, California have begun their ascent from the economic pits, according to a recent survey from the Longmont Area Economic Council.
Ninety-five of the companies surveyed said they have no plans to lay off individuals this year, according to a Longmont Times-Call report. In a sign of business expansion and growth, nearly 42 percent of respondents indicated they needed more staff, which is a 13 percent increase from 2009.
“I think people’s attitudes are improved,” said John Cody, president and CEO of the LAEC, the Times-Call relays. “I think companies are seeing more business.”
Companies that invest in new employees typically also spend on new technology, such as energy-efficient IT, new computers and
business projectors, that when combined with new hires, can help perpetuate growth.
Across the country, some companies remain hesitant to invest in R&D as a direct result of the recession, but Longmont’s businesses feel confident about where the economy is heading. According to the survey, 85 percent of respondents said their company is looking to introduce new products and services by 2012.
A recent Gartner report indicated IT spending will experience a 4.6 percent growth in 2010 from last year. Worldwide IT spending is expected to reach nearly $3.4 trillion this year, which may further boost the U.S.’s economy.
