The Buffalo Niagara Partnership recently released our 2019 Advocacy Agenda to a capacity crowd in downtown Buffalo.
Changes to New York State’s workers’ compensation program are expected to save employers upwards of $1 billion moving forward. The New York State Department of Financial Services recently approved a nearly 12 percent reduction in loss cost rates – a key component of determining insurance premiums. This significant reduction is a direct result of critical workers’ compensation reform included in last year’s state budget.
Regional employers are optimistic about the local business climate, but unconvinced that New York State is becoming more business friendly. This dichotomy is just one of the top line results of the Buffalo Niagara Partnership’s annual advocacy survey.
New York State has the third highest Workers’ Compensation premium costs in the country. To ease this growing burden on employers, the Buffalo Niagara Partnership is committed to achieving real reform.
The Buffalo Niagara region is undergoing an economic revitalization, however the future success of new construction projects and redevelopment is not guaranteed. Disjointed development policies and overly-burdensome regulations, often unique to Buffalo and New York State, create a challenging environment for projects to move forward. To build upon our momentum and truly achieve new growth, policies impacting local development must be aligned to achieve the prosperous future envisioned for Buffalo Niagara.
A safe and efficient transportation is vital to the success of an economy and that includes Buffalo Niagara. Therefore, transportation and infrastructure plays a key role in the Buffalo Niagara Partnership’s 2017 Advocacy Agenda. Listing out five specific priorities under this heading, we are stressing that all levels of government should make infrastructure funding and transportation initiatives a priority in order to continue the safe and efficient movement of goods, services, and people throughout the region.
In putting together our annual Advocacy Agenda, we survey our membership to gauge their pain points and areas of concern. Each year, our members continue to identify high taxes and escalating labor costs as their largest barriers to success. Those results are not surprising. Buffalo Niagara employers operate in one of the most highly taxes and overly regulated economic environments anywhere in the country.