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Let's Support Each Other: Use Your Partnership 2009 "Who's Who" Directory
January 27, 2009

Each time our staff has an opportunity to talk with a member, I have asked them to ask you how the credit crunch and deepening recession is affecting your business and what you are doing/planning in response. We're doing this in order to help us know how the Partnership can best be meeting your needs during these trying times. The responses have been illuminating - here are some general themes:

• Development has certainly slowed, as financing - both public and private - for building projects - including many already in the pipeline - has become more elusive, with higher interest rates, more restrictions, and state budget crises;
• Companies are limiting spending and refocusing priorities to ensure that they're getting the greatest ROI - many are simply holding off on investments for better times. This seems to be stimulating a greater emphasis on long-term planning, which can be good for individual employers and, in turn, for the regional economy;
• New and improved technology is taking a greater role in companies' plans.

No small part of the value of your Partnership membership is the range of tools - to keep you as competitive as possible - that we provide through our "ABCs" - Advocacy, Business Development and Convening/Communication. Two of these tools that seem specifically applicable and timely in this difficult economic period are:

First, your 2009 "Who's Who in Buffalo Niagara Business" directory, the Partnership's annual publication, which you received last week highlighting our over 2,500 members. One of the most important things you can do for the regional economy during this recession is continue to buy from and sell to each other within the Buffalo Niagara community. We see the "Who's Who" directory as a tool to identify opportunities to do so, which not only helps you build your own business, but helps us all build the Buffalo Niagara economy. We're all in this together!

Second, on February 6 at 8:30 a.m., we'll be hosting a Movers & Shakers panel discussion, "Recession, Credit Crunch & Buffalo Niagara." This is the first session in a two-part series (second session is March 26), in which we'll be discussing the economic crisis' impact on our region - first, from the perspective of financial institutions and companies impacted by the auto industry, and second, with a focus on real estate and retail. Our panelists for the February 6 session are: Dan Cantara, Senior Vice President and WNY Regional President of First Niagara Financial Services and Louis Panzica, President & CEO of Power Drives, Inc. I hope you'll join us for this important discussion.

Please continue to share with us your comments on what your company is facing - and proactively doing - to remain as strong as possible during this difficult period. The Partnership's advocacy and business development agendas are most effective when they're crafted based upon such direct input.

Andrew J. Rudnick
President & CEO