Walsh says there is much work to do to achieve opportunity for all; calls data “very positive signals”
SYRACUSE, N.Y. – After announcing earlier this month that the City’s credit outlook is improving, Syracuse Mayor Ben Walsh announced two additional indicators of progress for the City of Syracuse. U.S. Census Bureau estimates show Syracuse was the only major city in New York State to gain population in 2017-2018, and recent New York State Department of Labor data shows the Syracuse metro area saw private job growth that exceeded both state and national averages.
According to the U.S. Census Bureau 2018 estimates, while the other major cities, Buffalo, Rochester, Albany, and New York City, saw modest populationdeclines, Syracuse experienced a .32 percent rise in population between 2017 and 2018. During the same period, the City also experienced the highest population gain of any municipality in Onondaga County.
According to New York State Department of Labor estimates for the state’s metro areas, the Syracuse MSA (metropolitan statistical area) had an increase in private jobs of 6,700 from April 2018 to April 2019. This 2.6% increase is higher than the national increase of 2%, the statewide average of 1.5% and second-highest overall in New York State for that time period. Over that period, Syracuse added more jobs than its neighboring metros of Rochester and Albany combined.
“We have much more work to do, but growth in population and private jobs are very positive signals,” said Mayor Walsh. “Our vision is to make Syracuse a growing city that embraces diversity and creates opportunity for all. Getting there won’t be easy and will take time.”
“Taken together, these signs reinforce the narrative that Syracuse is not only on the move but leading Upstate New York in positioning itself for the New Economy. The progress we are experiencing is a testament to our strong partners at the federal, state, county and local level, as well as great collaboration with the private sector,” said Walsh.
Earlier this month, Mayor Walsh announced that Standard & Poors Global Ratings (S&P) upgraded its outlook for the City to Stable and maintained the City’s rating at A in its 2019 update. S&P’s outlook had been Negative. The S&P finding came at the same time that Moody’s Investor Services, another of the top worldwide credit rating agencies, maintained its Stable outlook and its A1 rating for Syracuse. Both services issued their reports after comprehensive reviews of the City’s fiscal status.
In April, the National Association of Realtors reported that among the top 100 metropolitan areas in the U.S., Syracuse had the third highest percentage of millennials moving to the area. The study of moving patterns of young people found that nearly three in four new Syracuse residents in 2017 were millennials. The top two metro areas were New Haven-Milford, Connecticut, and Madison, Wisconsin.