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Business is Booming!

By Al Levin
The Business Record
March 1, 2000

The Southern Tier began the new century on a high note. Total non-farm employment reached 322,400 in January, a record high for January. During the past 12 months, the region’s economy created 9,800 new jobs. This was the largest over-the-year increase for the month on record.

The region’s 3.1 percent growth rate was a new high and surpassed the 2.3 percent reported for the nation. Gains were strongest in the service sector, up 4,500, with many high-paying jobs added in business and health services. Not surprisingly, the buoyant economy accelerated consumer demand. Employment in wholesale and retail trade jumped by 3,100 to 63,300, a new high for January. Construction jobs rose 1,000 to 8,800, their highest level in over a decade. Business expansions, repairs to the infrastructure, and new home building contributed to the increase.

In the Corning area alone, the robust economy spurred the construction of over 400 new homes in the past year. Finance, insurance and real estate posted a gain of 900 jobs, reflecting the opening of the American International Group Call Center in Vestal. Government employment rose by 600 with gains centered in local education.

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