Centerstate CEO encouraged by economic trends in CNY
Central New York economic development boosters are hoping some positive trends from 2017 continue this year. One that CenterState CEO director Rob Simpson expects to hold course in 2018 is a change in something that’s plagued the area for years: brain drain.
"We have seen the latest census department estimates that the population 18-25 in central New York is actually growing at a more rapid rate than we’ve seen in recent memory," Simpson said.
Simpson says more college-aged students are staying in the area in part because there are more job opportunities out there. He also cites a low cost of living that’s attractive for young people and suggests the improved qualities in upstate cities also has something to do with it.
"Not just here in Syracuse, but Oswego, Cortland, Auburn," He said. "Our downtowns in upstate New York have gotten considerably more compelling and more and more people are moving back and living in those central business districts.”
Simpson also expects the downtown construction boom in Syracuse will continue in 2018. He adds with the recent renovation of several downtown properties, it’s only a matter of time before developers begin considering new construction to meet the demand for office and living space downtown.