Home > NEWS > Email from the President > Forbes Response

Forbes needs to take a closer look at Buffalo Niagara!    
August 7, 2008

News today is that Buffalo has made it to Forbes magazine's list of America's Top 10 "Fastest-Dying Cities."  I strongly beg to differ. 

While the Partnership is known to readily point out the challenges we face as a community, we do so because of all of the potential we have in this region.   Yes, there is a lot of “stuff” to fix.  But the Partnership wouldn’t exist, and wouldn’t have 2,500 local employers pooling their resources to support our efforts, if this community was “dying.”  That level of passionate activism in, for and about this region (by us and also community and cultural organizations, labor unions, religious groups, not-for-profits and even some elected officials) only happens in an environment that is very much alive.

In fact, in the midst of the many challenges you read about in emails from me, our region is poised for growth, especially in five key industries for which the Buffalo Niagara region is a particularly strong-suited location.   And that’s precisely why it is so critical we continue to work together to fight for what we know is in the best interest of our region’s economy.

Today, rather than focusing on the Forbes magazine list, or even Governor Paterson’s wise warnings about state finances or presidential candidate debates about how best to address the recession, consider some reasons to be optimistic coming out of the strongest industries in Buffalo Niagara’s private sector.  Want proof of our region’s potential? 

• Advanced Manufacturing: This industry has seen more than $450 million invested here since 1995 by America's top companies, in large part because our region boasts a manufacturing workforce of more than 100,000 skilled workers
• Agri-Business/Food Processing:  There are more than 1,200 of such businesses located in Buffalo Niagara, employing some 16,400 people
• Back Office Operations/Financial Services: Several of the country's largest employers, like GEICO, Citi, HSBC, Sodexho Marriott and NationsBanc, have invested in “back office” operations here, due in large part to our region’s lower-than-average employee turnover rates and 106,000 miles of fiber optic cable
• Life Science: Nearly $300 million in public and private funds have been invested in life sciences related infrastructure and facilities here since 2001.  Our region produces nearly 1,000 life sciences graduates annually, and has a life sciences workforce of more than 6,000 people
• Logistics: Rail, roads, ports and bridges – international bridges – have our region poised to be a leader in the logistics industry (even the Forbes article acknowledges that). Our region facilitates $81 billion in annual trade between Canada and the U.S. That's a full third of the total trade conducted between the world's two largest trading partners-and the volume is growing by 20 percent annually.

All of this is something to be proud of, and to celebrate.  In fact, we will: On November 18, the Partnership will honor the companies that are leaders of our region’s thriving five industries at Innovate Buffalo Niagara, which is sponsored by KPMG. 

I encourage you to nominate your company (self-nominations are encouraged) or another local firm that is doing award-worthy work.  Entries are due by August 15, and awards will be given in the industry categories listed above.  If you’re proud of what your company is doing, or what a client, customer or supplier is up to in Buffalo Niagara, please submit an entry form.

It’s an opportunity to tout what individual companies are doing to support our region’s economy, and as an added incentive, I plan to send a summary of all entries to the editors at Forbes – so they can see what’s going on in and around Buffalo.

By the way, two more recent news items I think I’ll include in my friendly letter to Forbes:

• According to a report issued last month by McGraw-Hill Inc., contracts for future construction in Erie and Niagara counties totaled $157.95 million in June, 2008 – that’s 77 percent ahead of the total from the same month a year ago.
• Job growth here during June, while sluggish, was faster than it was in any of the state’s 13 major metropolitan areas - the first time that has happened in decades, local economists have said. What’s more, the region’s job growth, which has been tepid since the last recession ended almost eight years ago, has held up unusually well during the current economic slowdown, outpacing even the U. S. growth rate in June. While the nation has lost jobs for six straight months, the Buffalo Niagara region has added jobs for six consecutive months, according to data from the U. S. Bureau of Labor Statistics