HYDE PARK- A survey of more than 500 upstate business leaders shows optimism that several sectors of the economy – technology, education, tourism, medical, and manufacturing – will prosper in the next three to five years, and a majority describe current business conditions in their local area as staying the same or getting better.
However, CEOs surveyed by the Siena College Research Institute also are wary of current adverse economic conditions, government regulation, rising supplier costs, healthcare costs, and taxation. Those sentiments also were among those revealed in the Research Institute’s Business Leader Confidence Index, which recorded the second lowest score since the survey began 17 years ago, topping only the score recorded during the Great Recession of 2008.
The Siena College Research Institute’s Upstate New York Business Leader Survey was conducted in partnership with UHY, a prominent professional services firm, and the Hudson Valley Economic Development Corp.
Research Institute Director Dr. Don Levy will present the findings on March 5 at the HVEDC’s second annual CEO Survey Breakfast, sponsored by UHY, at the Franklin D. Roosevelt Presidential Library and Museum. The report will detail Hudson Valley and New York State economic trends and forecasts, as well as CEOs’ feedback on the vital issues influencing companies’ ability to compete in today’s economy. The full report is available HERE.
“Despite increasing consumer sentiment, reports of lessening inflation and recent stock market gains, two-thirds of Upstate CEOs say business conditions are getting worse,” Levy said. “CEOs offer a more optimistic appraisal of their local area but compared to last year, predict declining revenues and profits. Still nearly one in three continue to look for new employees that can step in and contribute on day one.”
The Siena College Research Institute conducted interviews with 585 CEOs of Upstate New York companies/nonprofit…
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