Business Leaders See No Recession Looming in the Hudson Valley

BCW President and CEO Marsha Gordon was among a panel of local industry experts convened who recently participated in a forum on the Hudson Valley’s economy and the strength and resilience of its business community.

The “Real Estate & Economic Forum: Driving the Hudson Valley Forward” hosted by Orange Bank & Trust featured leading banking, real estate and construction industry voices — including Hudson Valley Investment Advisors Inc., The Business Council of Westchester, Hudson Gateway Association of Realtors, Construction Contractors Association of the Hudson Valley, and the Construction Industry Council of Westchester & Hudson Valley — discussing issues critical to the region’s continued growth.

The panel agreed the economy has stabilized after a difficult and uneven recovery spanning the past three years, and are optimistic for continued growth. At the forefront of issues impacting the business community are workforce shortages, inflation and supply-chain pressures, housing, construction and infrastructure initiatives, and the lending environment.

“Businesses are now doing well and it’s a reflection of the health of the Westchester and Hudson Valley economies,” said Gordon. “One of the most persistent challenges for businesses that we’ve been helping our members with is strengthening efforts to effectively attract and retain top talent. But overall, we’re gratified to see significant growth in so many key sectors of our economy, including health care and biosciences being driven by Regeneron, film and video thanks to Lionsgate, and professional services, which continue to be a core foundation of the Westchester economy.”

In adition to BCW’s Gordon, panelists included Carmen Bauman, President-elect of the Hudson Gateway Association of Realtors and Associate Broker at RM Friedland; John T. Cooney Jr., Executive Director, Construction Industry Council of Westchester & Hudson Valley, Inc.; Gus Scacco, CEO, Hudson Valley Investment Advisors, Inc; and Alan Seidman, Executive Director, Construction Contractors Association of the Hudson Valley.

Michael Gilfeather, President and CEO of Orange Bank & Trust welcomed the virtual audience of more than 120 attendees, and the program was moderated by Greg Sousa, Executive Vice President and Chief Commercial Banking Officer at Orange Bank & Trust.