They've never before put on a big concert, so the New Year's Eve party featuring Joe Driscoll at the Landmark Theatre represents a bold new splash for 40 Below, the seven-year-old Syracuse young professionals group.

That's not all that's new: Leaders say the organization will seek a permanent downtown presence in 2012, while charting a slightly altered course, based on the recognition that hard times have withered its demographic base.

"Six months ago, we saw 40 percent unemployment with young professionals in this community," said Benjamin M. Sio, manager at 40 Below. "We have all these students that are graduating from colleges and the universities in this area, but they're not staying here as much as they could be. .. Supporting them has become a main focus."

Formed in late 2004 after a high-profile summit attracted 600 people to the Oncenter, the nonprofit group has sought to stop or slow the exodus of young professionals from Central New York. It has a membership list of 3,000 but an active base of a few hundred volunteers, who work on projects ranging from building restorations to public art.

Next year, organizers hope to open a "co-working space" somewhere downtown. The space, a concept modeled in other cities, would host group functions and serve as a shared office location for members.

"We're gearing it as a place where individuals and professionals can come," said R.J. Sherman, a member of the location search committee. "If they don't have an office downtown, they can use it to meet with a customer or a client. We're looking to partition it, but also keep more of a modular space, so 40 Below can hold events there."

Sherman said the group has narrowed its search to a few places, based on the usual concerns: Location and expense. The group believes it has something else to bring a landlord.

40 BeLOW-OUT New Year's Eve Party

Where

: Landmark Theatre, 362 South Salina St., Syracuse.

When

: 9 p.m., Dec. 31.

In Concert

: Syracuse native Joe Driscoll, with saxophonist James "Hollywood" Moore and DJ Afar.

Also

: Open bar, hors d'oeuvres, silent auction and ball drop.

Cost

: $90 per person.

Tickets Online

:

40belowsummit.com/nye2011

.

To contact 40 Below

: Call 470-1800 or email

info@40belowsummit.com

.

"We're looking for a low-cost or no-cost kind of lease agreement, in exchange for bettering that space for the building owners and offering something for the community," said Ashlyn Maguire, a fellow committee member.

Since its launch, 40 Below has seen a relatively constant turnover of members, a situation described by its leadership as a natural consequence of the people it seeks to tap. By nature, young professionals are less settled and more prone to move between cities. The goal is to grow the Syracuse community and thus spur more young professionals to establish roots.

"People often first get involved as singles," Sio said. "They get married, they have kids, and they're not able to give 20 hours a week of volunteer time, as they did in the past. We're experienced in having people pass through. That's part of the organization. That's part of the nature of our leadership."

He said the Syracuse group, during its seven years, has run about 75 steering committees on various projects, and hosts a monthly series of speed networking sessions and speakers. The group receives grant money from CNY Works, a local nonprofit, which draws federal funds.

Sio said there is no age requirement for membership: Anyone can join -- even if 40 or above.

"We don't have a 'graduation,'" he said, with a smile.

Still, 2012 will have a commencement of sorts: The first-annual New Year's Eve BeLOW OUT party. Headlining will be Driscoll, a Syracuse native whose beatbox rap has gained an international following. A full house at the Landmark could generate $20,000 to $40,000 for the nonprofit, a huge boost to plans.

"We're really excited about it," Sio said. "We're hoping for a great year."