PKF O’Connor Davies Releases 2023 Long Island Economic Survey Results

Annual study provides insight into current state of Long Island economy and outlook for coming year

PKF O’Connor Davies, one of the nation’s largest accounting, tax and advisory practices, today announced the results of its Long Island Economic Survey – Outlook 2023. Published since 1995, the Long Island Economic Survey provides a snapshot of Long Island’s business landscape through the lens of the region’s business leaders. The study reflects the economic challenges and opportunities currently impacting the business community, as well as those that leaders believe will arise in the coming year. Of note, respondents indicated the least amount of confidence in the Long Island economy since the inception of the Long Island Economic Survey, emphasizing the tumult they faced in 2022.

“The Long Island Economic Survey continues PKF O’Connor Davies’ tradition of providing our clients with valuable insights that can inform decisions and enhance growth,” said Jeffrey S. Davoli, Co-Partner-in-Charge of the Hauppauge Office. “We hope this study serves as a useful tool as businesses across Long Island address the economic realities of today and plan for the year ahead.”

In this year’s study, respondents shared their perceptions of the region’s business climate, insights into revenue and profitability and areas of focus for the year ahead. They also reflected on responses to inflation and rising operating costs, recruitment and retention strategies and approaches to environmental, social and governance issues.

“Each year, the Long Island Economic Survey amplifies the voices of the Long Island business community and raises awareness of the issues affecting local business leaders,” said Joseph C. Ferreira, Co-Partner-in-Charge of the Hauppauge Office. “We take great pride in sharing these viewpoints that shed light on the region’s economy.”

Once again, PKF O’Connor Davies partnered with the Siena College Research Institute (SCRI) in the development and publication of this year’s Long Island Economic Survey. SCRI is known for its regional, statewide and national surveys on business, economic, political, electoral, social, academic and historical issues. The Long Island Economic Survey – Outlook 2023 was unveiled at a launch event on January 24, 2023, at the Crest Hollow Country Club.