WXXI Local Stories
9:06 am
Fri October 9, 2009

Regional Economist Declares Recession Over

Rochester, NY – Things are looking up in Rochester. That's the upshot of "The State of Rochester's Economy" luncheon this afternoon.

M-and-T Regional Economist Gary Keith says a year ago, there was talk about the economy slowing down. He notes that the recession came to Rochester later than it did for the country as a whole, and that it didn't hit the community quite as hard.

Keith believes the recession is over and that the economy will start growing again.

Still, Keith warns that local unemployment will continue to rise until early next year.

Mark Peterson, President and CEO of Greater Rochester Enterprise, says the community has many advantages, namely its proximity to markets, fresh water, and high quality workforce. And he says Rochester must cooperate with Buffalo, Syracuse and Ithaca in order to grow economically.

The event was sponsored by the Rochester Downtown Development Corporation.