Greater Binghamton Chamber gives Building BC Awards and economic outlook at annual event

BINGHAMTON, N.Y. — The Greater Binghamton Chamber of Commerce held its annual economic forecast and Building BC Awards event on Tuesday morning, Feb. 13 at the Holiday Inn Binghamton.

Stacey Duncan, CEO of the Leadership Alliance, revealed the results of a December 2023 survey of local business leaders.

According to the survey, the top five state and local business challenges are state business taxes, state business regulations, attracting/retaining employees, the regional economic climate, and unemployment insurance.

National factors influencing business leaders’ outlook include inflation/deflation, interest rates, health-care costs, federal regulations, and energy policy.

Regarding the 2024 economy, 73 percent of respondents expect the economy to expand, while 27 percent expect it to remain unchanged. About 32 percent feel more optimistic about this year compared to last year, while 36 percent feel less optimistic.

Almost 80 percent of businesses expect their revenue to increase this year, and nearly 60 percent anticipate adding to their workforce.

The chamber event also celebrated this year’s winners of the Building BC Awards.

Paulus Development won the Building BC Restorative Award, which recognizes a project that brings new life into an aging building. The Syracuse–based company was honored for its project transforming the former Endicott Johnson Shoe Factory into a mixed-use commercial building with 156 luxury market-rate apartments and 7,500 square feet of commercial space. Company President Matthew Paulus accepted the award.

The Building BC Transformative Award went to UHS with President/CEO John Carrigg accepting. The award recognizes a project that impacts an entire community and fosters growth. Scheduled for spring 2024 completion, the UHS Wilson project not only transforms Wilson Hospital but also Main Street in Johnson City with a $300 million, six-story clinical tower on the hospital campus. The tower includes 120 new private patient rooms, a new trauma center and emergency room, an MRI suite, a post-anesthesia care unit, surgical support area, and a rooftop helipad.

Three companies were honored with the Building BC Legacy Recognition, which honors businesses founded in the Greater Binghamton area that have continued to make significant contributions to the county’s business and economic climate.

Universal Instruments, founded in 1919 as a tool and die manufacturer, expanded to the electronics assembly and surface-mount assembly sectors. Today, the company designs and manufactures precision automation solutions for the semiconductor and electronics-manufacturing industry.

Gagne, Inc., founded in the 1950s by Tony Gagne, has its origins in engineered-product manufacturing, creating products including light boxes and light tables. Jim Cady was the second owner of the company until 1989 when Thom Holland and Jeff Sampson bought the business. In its third generation as a small, family-owned business, Gagne’s primary products are covers (or bellows) used in a wide variety of industries including medical, military, and OEM machinery. The company’s Porta-Trace light boxes continue to be a staple for artists, engineers, and photographers.

Maurice Sall and Albert Stearns opened their Sall-Stearns menswear and tailoring services store in 1929 on Washington Street. The store moved to 41 Court St. in 1958 and 52 Court St. in 1996, where it continues to operate today under the ownership of Nate Sall and his son, Ron, who purchased the store in 1973.