Women-owned businesses in Central New York are generating nearly $4 billion annually and employing more than 19,000 people—representing one in every three businesses across the region, according to new data presented by the WISE Women’s Business Center, hosted by the Martin J. Whitman School of Management.

The findings, detailed in “The Economic Impact of Women Entrepreneurs in Central New York” by Mary Carney of Mary Carney Consulting, underscore both the substantial economic contributions of women entrepreneurs and the untapped potential that remains when barriers to capital, child care and data equity are not addressed.

The numbers tell a powerful story of return on investment: in 2024, for every $1 invested in WISE, Central New York entrepreneurs generated $21 in revenue growth and capital accessed. Over nearly two decades, WISE has supported thousands of women and entrepreneurs launching, stabilizing and scaling ventures that sustain neighborhoods, create jobs and reinvest in their communities.

“When we invest in women, we invest in the future of Central New York’s economy,” says WISE Director Meghan Florkowski.

Yet significant gaps persist. Carney’s research identifies critical areas where increased investment could yield transformative regional economic results: expanding funding pathways, building child care infrastructure that supports entrepreneurship, committing to measurable supplier diversity goals and strengthening data systems that accurately capture women’s economic contributions.

“Corporations and decision-makers have a role to play,” Carney says, emphasizing that structural barriers—not individual capacity—often limit women entrepreneurs’ growth trajectories.

The data was presented during WISE’s inaugural Economic Impact Forum on Oct. 14, which convened nearly 180 entrepreneurs, business leaders and community partners to examine what’s needed to sustain this growth.

A panel discussion, “Breaking Barriers: The Realities and Opportunities for Women Entrepreneurs in Central New York,” featured entrepreneurs leading in diverse sectors including 24/7 child care, engineering, service and retail. Panelists included Arteika Hunter, founder of Clean & Glo Cleaning Services; Tanika Jones, owner of It Takes a Village Childcare Center; Sara Martin, founder of Critical Path Engineering Solutions; and Gwenn Werner, owner of Parry’s Hardware. The discussion was moderated by Tamika Otis, corporate responsibility officer and community relations manager at KeyBank, and CEO of KABOD Consulting Group LLC.

Hunter emphasized the need for accessible pathways into government contracting.

“If I could design a program to support women business owners, it would start with subcontracting opportunities, database access and proposal writing—because those three things open doors to bigger contracts and help small businesses learn the systems,” she said.

The forum also recognized local leaders through the WISE Annual Awards:

• WISE Legacy Impact Award: Joanne Lenweaver, former WISE director and co-owner of Clean Slate Farm
• WISE Entrepreneur of the Year: Liz Yates Horton, founder and CEO of Engage Therapy and Wellness
• WISE Community Impact Award: Eileen Baugh, founder and CEO of Admin-On-Call, LLC (Executive Assistant on the Run)

As WISE looks to its next decade, the center is focused on expanding access to capital, building sustainable childcare entrepreneurship models and ensuring women and entrepreneurs are supported and recognized in every sector and community across the region, Florkowski says.

—Story by Carolyn Tucker