(WBEN) - In a new poll from Siena Research, only 31 percent of Upstate New York CEOs expect the New York State economy to return to pre-virus levels of revenue and employment within the next six months.
The poll was conducted before the Governor extended the NY-PAUSE guidelines until mid-May.
On the question of when to get back to business, 57 percent of those polled say New York’s primary focus should be addressing the public health crisis while 35 percent think the State should plan to relax restrictions.
“Despite having to lay off workers and downgrade economic projections, a majority of upstate CEOs agree with the sentiment expressed by one CEO: ‘people and health first, the economy can wait,’” said don Levy from Siena Research. “The good news is that virtually all the CEOs we interviewed expect their business to survive this crisis.”
Still there will be a significant impact.
Of business owners polled, 89 percent predict somewhat or significantly less revenue, and 87 percent forecast less profits. Forty percent have already laid off employees and an additional eight percent anticipate more layoffs by August 1.
See the entire poll results HERE.