CenterState CEO report finds 55 percent of area firms expect to boost hiring this year

SYRACUSE, N.Y. — A new report from CenterState CEO finds 55 percent of more than 165 businesspeople surveyed expect an increase in jobs and hiring in 2024 — down 17percent from 2023 projections.

It also found nearly three quarters of those surveyed (72 percent) anticipate increased sales or revenue in 2024, down 1 percent from the 2023 projections.

That’s according to the 2024 Economic Forecast for Central New York report that CenterState CEO released on Wednesday. Baldwinsville–based Research & Marketing Strategies, Inc. (RMS) conducted the survey.

The report includes the insight and projections of CenterState CEO members and business leaders from across industry sectors, with perspectives on company growth, employment trends, and the expected impacts of Micron Technology’s (NASDAQ: MU) investment and other major initiatives taking place in the region on their own businesses, and on the region’s economy, CenterState CEO said in its news release about the report.

Besides the hiring and revenue projections, the survey found 56 percent of respondents expect to expand products and services in 2024, up about 2 percent from the 2023projections. And 49 percent anticipate they will increase capital investments, up 2 percent from 2023.

Nearly 65 percent of respondents expect the strength of their business in 2024 will be “strong” or “very strong,” with 49 percent dealing with a mix of positive momentum and challenges.

Of those surveyed, 89 percent have a positive outlook for Central New York’s economic health. Additionally, 85 percent said they see the Central New York economy five years from now getting better.

The economic-development organization released the report during its annual Economic Forecast event on Wednesday morning at the Nicholas J. Pirro Convention Center at Oncenter.

The program attracted 750 attendees, CenterState CEO tells CNYBJ.