Here's good news: New Jersey business owners are optimistic.

Seven out of ten New Jersey business executives said they expect their companies' business to improve over the next 12 months, according to a flash survey conducted yesterday by the New Jersey Chamber of Commerce and Sovereign Bank.

Seventy percent of the respondents said their companies will be in better shape over the next year, 22 percent anticipate business will hold steady, while 9 percent expect business to worsen.

The survey participants were the 200 executives, business owners and managers who attended the N.J. Chamber's and Sovereign Bank's Economic Outlook Breakfast at the Pines Manor in Edison yesterday. Participants used hand-held devices to respond to ten questions, and responses were immediately tabulated and displayed. The survey provided a real-time snapshot of business leaders' views of the economy, and was followed by an expert panel that discussed the results.

Kevin Welsh, senior vice president of CB Richard Ellis, said the respondents' optimism is consistent with what's occurring on the ground in New Jersey: the relocation or expansion in New Jersey of Panasonic in Newark; Novo Nordisk in Plainsboro; Whyndham Worldwide headquarters in Parsippany; and LG Electronics in Englewood Cliffs. LEARN MORE