MONTICELLO – Development interest in Sullivan County remains high with companies looking to locate in the Catskills while existing ones consider expansion.
The unemployment rate is low and new jobs continue to be filled. But, the big elephant in the room is inflation and the possibility of a national recession.
Marc Baez, president of the Sullivan County Partnership for Economic Development, issued a word of caution to county legislators on Thursday.
“We are living on last year’s productivity, and that’s okay. Next year we will be living on this year’s productivity. This year’s productivity is extraordinarily higher priced than last year’s, so that is going to be something we should be aware of,” he said. “But, our goal is to continue to create inventory, to continue to create sites that are ready to develop so that we can kind of hedge our bet and try to diversify as much as we possibly can so if one industry sector takes a big hit, others can kind of withstand that.”
As with projects in other parts of the region, supply chain issues and the increased cost to deliver product, are fueling inflation.
