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High-tech shows high
hopes
By Jon
Chesto
Thursday, February 26, 2004
Nearly half
of a group of high-tech executives expect the Bay State's business climate
will improve this year following a painful downturn, according to a survey
to be released today.
The new
report from the Massachusetts High Technology Council shows 45 percent of
its members say the local high-tech economy will improve this year, up
from 15 percent last year and 7 percent two years ago. Only 5 percent
expect the climate will worsen.
A
high-tech recovery will play a crucial role in future job growth in
Massachusetts, as the sector has been bleeding jobs since late 2000. Those
job losses appeared to level off in recent months.
The
optimism among high-tech firms is fueled by an uptick in corporate
spending on hardware, software and related services after a relatively
flat year in 2003 and a plunge in 2002.
At EMC
Corp., the Hopkinton high-tech giant expects to add hundreds of jobs this
year to keep pace with the surge in business, an EMC spokesman said.
Small
firms are planning for growth as well. Pat Scannell, chief financial
officer at Netezza Corp. in Framingham, expects his firm's 100-person
staff will grow by 20 percent this year. The Bay State's skilled work
force is key to Netezza's success, Scannell said.
``Massachusetts'
big disadvantage is its high cost of living,'' said Paul Gudonis, chief
executive of Centra Software in Lexington and the tech council's incoming
chairman. ``We . . . compensate by having the best educated and most
innovative work force on the planet.''
Local
executives remained far more hopeful in the recent downturn then they did
during the state's previous recession more than a decade ago, the tech
council's study shows. For example, 80 percent of respondents predicted a
worsening climate in 1989 and 1990 - compared with 22 percent in 2002 and
26 percent in 2003.
That's
because the state's business climate has changed dramatically since 1990,
tech council president Chris Anderson said.
Anderson
cited the introduction of research tax credits and an overhaul of the
state's workers' compensation system in the 1990s.
He also
said state lawmakers pleased business executives by recently crafting a
roughly $100 million economic stimulus package - one of several recent
state efforts to boost the local tech sector.
``They're
feeling a little bit better about Massachuetts because I think they see a
long-term, technology-based strategy emerging,'' Anderson said.
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