Impact of Sept. 11 continues

Impact of Sept. 11 continues

While nearly 70 percent of San Fernando Valley business leaders recently surveyed reported that their businesses have been impacted by the events of Sept. 11, most were optimistic about a short-term recovery. Surveys were distributed to nearly 200 Valley business leaders, with a return rate of 32 percent.

The survey revealed that although businesses have been impacted by the terrorist attacks, economic recovery is not believed to be far off. Of the 20 leaders who said their business would be impacted negatively in the long-term, 70 percent expected to recover in less than 12 months.

Only 17 percent of those surveyed, including leaders from such industries as real estate, education, communications and finance, anticipate any long-term negative effects in the San Fernando Valley economy.

Jolene Koester, president of California State University, Northridge, said, "[the] Valley’s diverse business base should help the long-term." J. Richard Leyner, chairman of the United Chambers of Commerce agreed, saying "[there will be] no long-term effect. Our Valley is a strong defense-based community . . . over the long term we will benefit from this."

The San Fernando Valley Leadership Survey is a joint venture of Cooper Communications, Inc., and the San Fernando Valley Business Journal.