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Insights from the 2026 Long Island Economic Survey

On January 29, 2026, PKF O'Connor Davies, a leading accounting and advisory firm, shared the findings from its annual Long Island Economic Survey. Conducted in collaboration with the Siena Research Institute (SRI), the survey reflects the sentiments and outlooks of business leaders from various industries across the Long Island region.

The survey's results indicate a notable shift in business confidence. While last year saw a post-2024 election high, the optimism has since dropped, with only 76% of respondents expecting to remain in business over the next five years, a decline from 84% the previous year. This trend highlights a growing caution among local businesses regarding future growth prospects.

Dr. Don Levy, Director of the Siena Research Institute, emphasized that this decline mirrors a similar downturn in consumer sentiment. "Business leaders have adopted a more subdued approach to hiring and capital investments," he noted. Despite boasting about the quality of life in the region, business leaders pointed out significant challenges, including housing affordability, availability, and transportation issues. These barriers, they argue, hinder the region's ability to attract and retain young talent.

Interestingly, the survey also revealed an accelerating trend in technology adoption among businesses. Nearly 60% of companies reported utilizing artificial intelligence, with 71% of those users indicating noticeable efficiency improvements. This technological shift exemplifies the willingness of firms to innovate and adapt amidst economic uncertainties.

Jeffrey Davoli, a partner at PKF O'Connor Davies, expressed gratitude for the insights shared by the business community, stating, "Your candid insights illuminate the evolving challenges and opportunities facing Long Island's business community. We are committed to helping our clients turn these insights into strategic advantages."

During the presentation of the survey results at Crest Hollow Country Club, various business leaders echoed the study’s findings, calling for immediate action by elected officials to address the impediments posed by housing and transportation. Nonetheless, a substantial number of business leaders remain committed to maintaining their operations in Long Island and are planning beyond 2035.

This year's survey not only sheds light on the cautious optimism among Long Island businesses but also underscores the urgency for systemic changes that can foster a more favorable business environment. The commitment to embracing technology offers a pathway forward, presenting opportunities for growth amidst challenging conditions.

To access the full findings of the 2026 Long Island Economic Survey, visit PKF O'Connor Davies' official page.

About PKF O'Connor Davies

PKF O'Connor Davies stands as one of the largest accounting, tax, and advisory firms in the United States. As part of a global network of accountancy firms, the organization prides itself on delivering exceptional service and value to both domestic and international clients. Their motto, "Know Greater Value", encapsulates their commitment to providing expertise and support that empowers clients to achieve their financial goals.

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