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Uncertain Economic Forecast for Binghamton Area

According to a regional economic forecaster, the national economy is expected to pick up this year, while the local economy is a bit harder to predict.
According to a regional economic forecaster, the national economy is expected to pick up this year, while the local economy is a bit harder to predict.

Gary Keith, a Vice President with M&T Bank, gave his annual Look at Industry Trends in the Year Ahead to members of the Greater Binghamton Chamber this morning. Keith says our area actually fared better than many others through the great recession. He points to employment growth in he service sector, education, healthcare, construction and tourism. However, manufacturing continues to shrink. Keith says investments by Binghamton University and housing developers in downtown Binghamton should pay dividends.

"I'm very optimistic that those continued re-investments in the centers of all of our cities in Upstate New York are going to be a positive and come to fruition in the next few years," said Keith.

Keith says the future of electronics manufacturing in our area is uncertain. He says that while proposed tax breaks are helpful, the best thing Albany could do for the Greater Binghamton economy is to allow hydrofracking.

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