BINGHAMTON, NY – Slow and steady growth is in the forecast according to a regional economist who visited Binghamton today.
M&T Bank Vice President Gary Keith was the featured guest at the Greater Binghamton Chamber’s annual Economic Forecast meeting.
Keith predicts continued growth in the local economy, albeit at a slightly lower rate than last year.
He says healthcare and education continue to be major drivers with additional support from the transportation and warehousing sectors.
Keith says uncertainty over trade with China continues to be a challenge.
He says some of our area’s relatively low unemployment is due to people moving away.
“The biggest challenge this region has is workforce and keeping its mid-tier skilled workforce that has been slowly, for economic reasons, migrating away. And the Baby Boomers who are retiring,” says Keith.
Keith says a good sign is that the number of highly-skilled young adults in Upstate New York is on the rise.
The Chamber also handed out its 4 annual Building BC Awards at the breakfast.
Animal Adventure Park owner Jordan Patch received the individual award.
The home of world-famous April the Giraffe attracts over 150,000 visitors from across the globe each year, giving a boost to hotels, restaurants and other tourist attractions.
“Seven short seasons ago, I walked around an empty field full of mud and I pointed out to my friends and family what was going to go here and what was going to go there. And they all looked at me as though I was crazy. Fast forward 7 seasons, and here we are today, receiving this award, honored, and doing more and growing every day,” says Patch.
50 Front Luxury Apartments got the Transformative Award while The Ansco Camera Factory received the Restorative Award.
TeleHealth 365 was honored with the Innovative Award.