Survey of upstate New York employers reflects pessimism
A survey of 340 upstate New York employers commissioned by the Buffalo Niagara partnership maintains the pessimistic narrative coming from business leaders about the state's economic climate.
The state's taxation regime and the costs of healthcare lead the list of concerns, followed by the general state of the upstate economic environment and the availability of a suitably qualified workforce.
Respondents were more upbeat about the prospects for increased capital investment with well over half saying they expected to increase their stake in New York state over the next five years.
The survey was conducted by John Zogby of Zogby International.
The following areas, which closely align with the priorities for the Buffalo Billion funding stream, were highlighted by respondents as the strongest areas for potential growth in upstate over the next four years: life Sciences, Hi-Tech/Software, Manufacturing, Tourism.
78 percent said that they believed it would be easier for them to do business in another state, and 70% answered that job creation was the most important benefit that businesses can provide.
A little over a quarter said they believed business conditions were easier in downstate New York.
A high proportion (83 percent) rated the current state of manufacturing in New York state as Fair/Poor, with 70 percent ticking the same box to describe the economic development assistance available to their company.
Andrew Rudnick, the president and CEO of the Buffalo Niagara partnership who will retire in June, said in a statement:
...clearly stated in this survey is a specific intent by Upstate employers to invest, create jobs and grow the economy if real and measurable relief is offered by Albany.”