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Business & Tech

Somerset Businesses Upbeat on Economic Outlook

Business owners and retailers are seeing signs of economic optimism.

As the economy struggles to gain traction for a third straight year, local businesses and retailers remain optimistic that they have seen the worst of a dire economic state.

“I would describe the situation as mildly optimistic,” said Mike Kerwin, executive director of the Somerset County Business Partnership of the economic picture. “(This holiday season) I think we will see a greater willingness to defy the news compared to the last couple years.”

Kerwin is an employee of SSP Architectural Group of Somerville, the longest-operating architectural firm in New Jersey. Kerwin keeps an eye on the business partnership’s business base, he is particularly in tune with industries associated with his own.

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“While some industries are struggling, in some areas, such as construction and design, are doing very well,” Kerwin said.

Other areas, Kerwin said, the business partnerships is starting to see hiring take hold. 

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“There are a couple of examples within the business partnership,” Kerwin said. “There is some growth in the telecommunications and technology area, which is encouraging.”

On the retail front, the Bridgewater Mall, one of the main shopping destinations in Somerset County, is buoyed by the latest data from the National Retail Federation, which forecast a holiday sales increase of 2.8 percent to $465.6 billion.

“Every holiday season, our retailers have great sales and the right merchandise mix at every price point for our shoppers,” said Amy Harris, marketing manager for and The Village.

Just like some chamber programs geared toward bringing more shoppers into their downtown shopping districts, Bridgewater Commons produces several programs that entice shoppers to mall retailers.  

For example, the Commons will host programs, such as Breakfast with Santa, where holiday guests can join Santa for breakfast at California Pizza Kitchen on Dec. 4 and Dec. 11 or the Jump on the Jingle Black Friday Event, where retailers will offer discounts and mall giveaways, of course, starting on Nov. 25. After the Christmas holiday, from Dec. 26 through Jan. 31, shoppers can participate in January Jingle, a promotion where sale-savvy shoppers can can drop off their spent gift cards from any mall or retailer at special redemption areas and be entered for a chance to win a $1,000 Shop etc. gift card. 

Programs such as those at the Bridgewater Commons are feeding off some new sparks of optimism in national economic news. Earlier this week, the Labor Department reported that the number of Americans filing for their first week of unemployment benefits dipped for the third straight week.

One sign, perhaps, that the employment picture is improving can be seen in seasonal hires. Harris said that she always sees a bit of seasonal hiring activity and this year is similar to previous years.

“There are always seasonal hires,” Harris said. "It's the holiday season."

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