CenterState CEO economic forecast: members optimistic about 2015

SYRACUSE, N.Y. — The majority of CenterState CEO members surveyed expect increased sales, product expansions, higher profits, and an increase in hiring compared to 2014.

The data is part of the 2015 Economic Forecast Report that CenterState CEO released Thursday morning.

More than 600 people attended CenterState CEO’s 2015 Economic Forecast breakfast at the Nicholas J. Pirro Convention Center at Oncenter in Syracuse.

Business and community leaders gathered to hear about the region’s current economic climate and to hear an analysis of the economic trends that are affecting business.

CenterState CEO provided details about the report and the breakfast event in a news release issued after the event.

Syracuse–based CenterState CEO is the region’s primary economic-development organization, representing 2,000 companies of all sizes in a 12-county region.

The 2015 Economic Forecast Report includes market data from Manpower on industry, occupation, employment, and earnings expectations through 2018.

Manpower, a staffing agency, is part of the Milwaukee, Wisc.–based ManpowerGroup, according to its website.

The report presents the perspectives and projections of more than 230 CenterState CEO members and business leaders from 14 industry sectors.

The organization views the report as a “single source of strategic information” across the 12-county, CenterState New York region.

Baldwinsville–based Research & Marketing Strategies, Inc., conducted the research through a survey and focus groups, CenterState CEO said.

Regional optimism

The report found 71 percent of those surveyed anticipate increased sales or revenue in 2015, which is up 3 percent from 2014 projections. It also found 59 percent expect to expand products and services this year, representing a 6 percent rise over last year’s projections.

The report found 54 percent of those surveyed expect an increase in profit in 2015, up 5 percent from 2014 projections. Additionally, 51 percent anticipate an increase in jobs and hiring during 2015. That’s up 12 percent from 2014 projections.

Rebecca Dernberger, vice president and general manager of Manpower’s northeast division, provided the keynote address.

The most successful communities are those that understand the direct correlation between economic development and workforce development, said Dernberger, according to the CenterState CEO news release.

“Manpower has been involved with CenterState New York for several years now, and it is apparent that the community understands the importance of this connection. Manpower’s recent Employment Outlook for this area was very respectable … 78 percent of those interviewed intend to maintain their current workforce,” said Dernberger.

The 2015 Economic Forecast Report also identified reasons for optimism across sectors.

They included growth in new entrepreneurial start ups; “significant” investments are creating a “newly resurgent” downtown; and emerging trends and new offerings are “breathing life” into industries such as manufacturing, agriculture, and tourism.

In his remarks, Robert Simpson, president and CEO of CenterState CEO, highlighted opportunities for the region that Gov. Andrew Cuomo’s proposal to create an Upstate Revitalization Fund is driving.

“With the Governor’s challenge to Upstate communities to develop robust, strategic, and data-driven revitalization plans, we have a vested interest in working collaboratively to develop shared priorities that invest in new and existing industries with potential to attract private investment and create good-paying, sustainable jobs; build our human capital and connect people with the jobs we create; leverage our region’s academic and research excellence; and invest in the infrastructure needed to grow a modern and lasting economy,” Simpson said.