CenterState CEO report finds 72 percent of area firms expect to boost hiring this year

SYRACUSE, N.Y. — A new report from CenterState CEO finds more than 72 percent of nearly 200 area companies surveyed expect an increase in jobs and hiring in 2023 — up 4 percent from 2022 projections.

It also found nearly three quarters of those surveyed (73 percent) anticipate increased sales or revenue in 2023, down 2 percent from the 2022 projections.

That’s according to the 2023 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 perspectives and projections of CenterState CEO members and business leaders from across industry sectors, with data and insight on Micron Technology’s (NASDAQ: MU) economic impact, along with industry and employment trends.

Besides the hiring and revenue projections, the survey found 54 percent of firms expect to expand products and services in 2023, down about 2 percent from the 2022 projections. And 47 percent anticipate they will increase capital investments, also down 2 percent from last year’s projections.

The report also found nearly 70 percent of respondents describing their expectations for the strength of their business in 2023 as “strong or very strong,” similar to last year, when 72 percent described their business the same.

Additionally, more than 70 percent of respondents expect Micron Technology’s commitment to Central New York will impact their business.

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.