BINGHAMTON, NY – The Chamber of Greater Binghamton hosted its annual Broome County Economic Forecasting and Building Awards earlier this week.
CEOs and business leaders were on hand to discuss and learn how local economic growth is going, especially post-pandemic.
M&T Bank Group Vice President Peter Kneis was the keynote speaker and explained how economic activity is affected by 4 key factors.
These are labor shortages and wage costs, supply chain issues, pent up demand and savings, and inflation.
Kneis adds that these issues can be good to have and he thinks we are headed in the right direction.
“We see housing prices in Binghamton on the rise, we see economic activity in Binghamton on the rise. We are seeing population growth in Broome County starting to return. And the changing workforce, this idea of being able to work remotely could be a really positive thing,” Kneis says.
He adds that Binghamton’s private sector job numbers are growing, but are still down from pre-pandemic numbers.
Awards were presented to individuals for their forward thinking and helping to grow the community.
Goodwill Theater CEO Naima Kradjian received an award for her investments having a positive impact on quality of life and job growth.
President and Founder of iM3NY, Shailesh Upreti has accepted an award for a project that thinks outside the box and has proven to be a leader in innovation.
“As we go through projects, public projects take a long time. So when you can celebrate a benchmark and a success and realize that others recognize what you’re doing, that’s really important,” says Kradjian.
“This project has taken a long time and it will be one of the best clean energy regions. So we are really excited to push forward with all our might and there are a lot of people behind the scenes working hard almost 24/7 to make this happen,” says Upreti.
Kradjian says a lot of exciting things are happening at Goodwill.
Renovations to the historic buildings continue and the popular outdoor tent will make a return this summer.
Upreti says IM3’s lithium-ion battery installation at Endicott is approximately 60% complete.
He expects manufacturing to begin this summer.