Long Island Economic Survey Results Revealed

Albrecht, Viggiano, Zureck & Company, P.C. (AVZ) - For the seventeenth consecutive year the Long Island Economic Survey and Opinion Poll has taken the pulse of the Long Island business community. Approximately 5,500 survey questionnaires were mailed out on October 1, 2010 to Long Island business owners.

In perhaps what is the most telling result, on a scale of 1-10, confidence in the Long Island economy dropped two-tenths of a point to 5.0 in 2010 from 5.2 in 2009. On a National level, confidence in the economy decreased to 5.0 this year vs. 5.1 in 2009.

Thomas J. Murray, Managing Partner for AVZ said "While our results show continuing concern for our local and national economies, respondents were slightly more optimistic this year about recovery and growth.”

One of the negative economic indicators is the lack of intent to expand facilities in 2011. Long Island's construction industry will most likely be adversely affected by the 90% of respondents, up from 86% last year, who do not have any plans for expansion.

Other survey highlights include:

· 96% believe that the expiration of the Bush Tax Cuts will have an impact on our economy.

· 57% do not think we are headed for a double dip recession.

· 71% stated that the Healthcare Reform Act has already had an impact on their business.

· 37% realized a decline in revenue from 2009 to 2010; which is down from 55% in 2009.

· 38% project no revenue growth for 2011; while 24% are expecting to see a gain of one to five percent.

· 50% (down from 75% last year) project net income for 2010 will be lower than 2009.

· 45% (down from 55% last year) experienced a decrease in full time employees during 2010.

· 55% believe that interest rates will remain the same in the coming year.

· 49% think real estate prices will also remain the same in the coming year.

· 80% anticipate stock market indices will either increase or remain the same in the coming year.

The Long Island Economic Survey and Opinion Poll is conducted each year by AVZ in partnership with the Townsend School of Business at Dowling College and sponsored by the Long Island Business News.

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About AVZ:

Albrecht, Viggiano, Zureck & Company, P. C. (AVZ) is a partner in growth for businesses in the public, private, not-for-profit and government agencies sectors. The firm delivers expert, responsive accounting services, tax planning, wealth management and business advice.

About The Townsend School of Business:

The Townsend School of Business at Dowling College offers undergraduate, graduate and custom training programs that are designed to provide students with skills that are appropriate for success in all fields of business.

For a copy of the 2010-2011 Economic Survey & Opinion Poll

Press Contact: Annette Esposito

(631) 434.9500

aesposito@avz.com