KPMG Survey Finds Atlanta Business Executives Foresee Strong Economic Growth

Atlanta-area business executives remain overwhelmingly optimistic about growth prospects for their companies and the local economy, according to a recent survey by KPMG LLP, the U.S. audit, tax and advisory firm.



KPMG Survey Finds Atlanta Business Executives Foresee Strong Economic Growth


ATLANTA, Nov. 26 - Atlanta-area business executives remain overwhelmingly optimistic about growth prospects for their companies and the local economy, according to a recent survey by KPMG LLP, the U.S. audit, tax and advisory firm.


The KPMG survey of senior executives at public companies found that Atlanta's business leaders are focused on growing their businesses. Overall, 87 percent expect business improvement in the year ahead, with 31 percent expecting business to be much better and 56 percent believing it will be somewhat better.


"Atlanta executives see the economic engine taking off, and business optimism is riding high," said Tim Bentsen, KPMG LLP's Atlanta office managing partner. "The picture is becoming very clear now - Atlanta is poised for significant growth."


As for the their views on the local economy, 70 percent of Atlanta executives said the Atlanta economy improved over the past year, while 75 percent predict the Atlanta economy would further improve in the year ahead.


When asked what their chief executives were most focused on at this time, 53 percent said business expansion to improve long-term growth, 13 percent said quarter-to-quarter earnings and 11 percent said compliance with Sarbanes- Oxley and other regulations.


Unemployment is the biggest challenge facing the Atlanta-area economy today, according to 41 percent of survey respondents, followed by interest rates at 24 percent, and displaced workforce facing lower paying jobs at 20 percent.


The KPMG survey polled 80 senior executives from companies in the greater Atlanta area of various sizes covering a range of industries, including 10 companies with annual revenues in excess of $1 billion. The respondents comprised 29 C-class executives (CEO, CFO, COO, CIO, president) and 51 senior- management executives (EVP, SVP, VP, senior manager). The survey was conducted between Oct. 18-Nov. 2, 2004.


KPMG LLP is the audit, tax and advisory firm that has maintained a continuous commitment throughout its history to providing leadership, integrity and quality. The Big Four firm with the strongest growth record over the past decade, KPMG turns knowledge into value for the benefit of its clients, people, communities and the capital markets. Its professionals work together to provide clients access to global support, industry insights, and a multidisciplinary range of services. KPMG LLP (http://www.us.kpmg.com ) is the U.S. member firm of KPMG International. KPMG International's member firms have nearly 100,000 professionals, including 6,800 partners, in 148 countries.