Confidence Plummets Among Mass. High-Tech Execs

February 12, 2009

Confidence among the state's high-tech executives has fallen to its lowest point since 1991, the Massachusetts High Technology Council said.

The council, a nonprofit group made up of the state's high tech and life sciences companies, has conducted an annual business climate survey since 1987.

The 2009 survey, which is based on a questionnaire sent to member company chief executives in December and January, showed the "highest degree of pessimism in the state's high tech business climate in 18 years," the council said.

The current survey indicates that 38 percent of the chief executives who responded believe the climate is "worsening;" only 4 percent of last year's survey respondents indicated a similar outlook, the council said.

“The survey results are clearly reflective of the precarious economic and fiscal climate,” council chairman Joshua Boger said in a statement. “Difficult times like these reconfirm the need for a competitive and comprehensive economic strategy to accelerate growth of the state's diverse innovation economy. Success in this arena will help build and sustain the world class schools that will supply the next generation of innovative talent and invigorate long-term economic and educational excellence.”

Boger is also the outgoing chief executive of Vertex Pharmaceuticals Inc., a Cambridge biotechnology company.

(By Chris Reidy, Globe staff)