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Local economy sees up, downs, as nation’s economy grows

Local economy sees up, downs, as nation’s economy grows

Photo: WHCU

After a tough winter, the U.S. economy sprang back to life in the April to June quarter, growing at a fast 4% annual rate.

Higher consumer and business spending were key factors in the growth.

The new president of the Tompkins County Chamber of Commerce, Jennifer Tavares, points to some growth in certain industries locally, specifically tourism.

“I think there are some very positive signs with what’s going on here locally,” Tavares said, mentioning that hotel stays and visitor numbers have increased.

“We see new businesses coming online, and we see a lot of projects and a lot of economic activity as well,” Tavares added.

One point of focus, though, is the Commons, where Tavares says some businesses are struggling a bit, but says the Chamber will work to increase traffic to keep them strong until the Commons rebuild is complete.

“Obviously, some of those folksĀ need to hold on a little bit longer before they’re really going to be able to see some of the benefits from this,” Tavares said, referring to the Commons rebuild project.

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