CenterState CEO's 2022 Economic Forecast

Growth Expected for Those Willing to Adapt to Shifts in Economic Forces

Doubling down on economic strategy and collaboration critical to continued progress

SYRACUSE, NY – CenterState CEO hosted its popular Economic Forecast event to share insights into the region’s economic climate from the perspective of regional business leaders and economic experts.

The event marks the release of the 2022 Economic Forecast for Central New York. The report includes the perspectives and projections of CenterState CEO members and business leaders from across industry sectors, with data and insight on COVID-19 impacts and industry and employment trends.

Through a survey and focus groups conducted by third-party research firm Research & Marketing Strategies, Inc., forecasters reflected on the growth they experienced in 2021 and shared their predictions for 2022:

72% described their outlook for the strength of their business in 2022 as strong or very strong; up 30% from 2021.
75% expect sales or revenues to increase in 2022, up 31% from 2021 projections.
56% expect to expand products and services in 2022, up 14% from 2021 projections.
68% expect an increase in jobs and hiring in 2022, up 29% from 2021 projections.
49% expect to increase capital investments, up 15% from 2021 projections.

Additionally, 53% say their business endured the impacts of the COVID-19 pandemic extremely or very well, with 49% reporting that business is close to being back, or even stronger than it was before the pandemic.

Read the full press release, here.

The Central New York Business Journal

Urban CNY