“While sour on the new tax, county businesses are holding steady to the optimism that has been present since the start of the year,” the chamber said in its report.
The Business Outlook Index stood at 24, in line with its long-term average and well above the level in most of 2016.
“Compared to the instability we saw over the start of 2016, this year’s consistently positive outlook has been a much welcomed change,” said Dino D’Auria, chief banking officer at Silvergate Bank, the sponsor of the index.
In its regular polling of business owners, the chamber found widespread concern about the new state gas tax, with only 21 percent of respondents indicating support.
“While all of us who live in California know that our roads and infrastructure are in dire need of upgrades, our survey shows that for the business community, the taxes levied are likely to have a negative impact,” said Jerry Sanders, president and CEO of the chamber.
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