NORWICH – Area business leaders, along with several nonprofit and public officials, gathered at the Canasawacta Country Club in Norwich on Thursday as Commerce Chenango hosted its 16th Annual Economic Forecast Breakfast.

Each year, the Economic Forecast Breakfast gives local leaders in business and politics the chance to discuss the major trials and triumphs of the past years and focus on the challenges for the year ahead.

In spite of slow economic recovery since the worst of the recent recession from 2008-2010, this year's forecast came with a sense of cautious optimism for the local business community.

The event – sponsored this year by NBT Bank, with foods provided by Cascun Farm in Greene – spotlighted the successes and ongoing projects of Commerce Chenango in 2013, and focused heavily on what's still to come. Commerce Chenango President and CEO Steve Craig said many objectives of Commerce Chenango align with what was revealed in Governor Andrew Cuomo's 2014 executive budget, including a proposal to eliminate the corporate income tax rate for Upstate manufacturers