Despite a recent study that shows the Rochester area still has a ways to go in recovering from the Recession, one local business leader is optimistic about the region's prospects.
A study by the Brookings Institution and JP Morgan Chase shows that the Rochester metro area has only partially recovered from the recession. Although employment has bounced back, economic output for the region still has some ground to make up.
The president of Greater Rochester Enterprise, Mark Peterson feels this area still has the potential to make the kinds of changes that are needed in the previously manufacturing-dominated economy.
"The good news is we have good roots, we have good bones to build on and we're more diverse as an economy than we've ever been, that's so important to why having some additional dollars from Albany could go a long way to complete the transition.”
Peterson also tells WXXI News that, "I think we're still continuing to go through a transition and that is the fact that we have many small and medium sized companies that are experiencing double digit growth year over year but we still have transition in some of the largest companies in our region and as that happens it's going to take a while for that to equalize."
Peterson says his organization currently has more than two dozen projects they are working on, which could help add to the local employment base this year.
"We have 27 active projects in our pipeline right now, four or five that are very close to final decisions…so we're feeling very good about our prospects and our opportunities."
