In the midst of the COVID-19 pandemic, New York State added a major prevailing wage expansion into the enacted state budget. This decision, long opposed by the Buffalo Niagara Partnership and statewide business leaders, will make it even more difficult to attract private sector investment to a state already burdened with high taxes and extensive regulations.
The Commercial Property Assessed Clean Energy (C-PACE) Program is new to Buffalo, created to address long standing problems: high redevelopment and energy efficiency costs.
By Seth Piccirillo | Senior Manager of Economic Development
Formidable space separates Buffalo, New York from Austin, Texas.
Last year, Buffalo did not make it into the CBRE’s top 50 cities for technology talent. While not in the top 50, Buffalo did make it in to CBRE’s The Next 25 Markets in the tech talent report. Tech talent has long been concentrated in major cities, but high operating costs and shrinking availability of tech talent has spurred a spillover of hiring momentum in smaller and upstart markets in the U.S..
While the New York State 2019-2020 legislative session took steps to improve our state’s tax climate by passing a permanent 2% property tax cap holding local governments and school districts to reasonable spending, there is still much work to be done to ease the state’s heavy tax burden.
The Buffalo Niagara Partnership’s latest installment of our Metro 50 Buffalo Niagara series highlights one of our strengths: air service in the Buffalo Niagara region. Buffalo Niagara International Airport (BNIA) plays an essential role in the development of business and tourism in the Buffalo Niagara region. BNIA provides more direct non-stop routes than many peer metro airports and does so at consistently lower prices. What’s more, BNIA delivers that service at a nation-leading level of customer satisfaction.
The federal Opportunity Zone program represents one of the most comprehensive place-based economic and community development initiatives in decades. Passed as part of the Tax Cuts and Jobs Act of 2017, the program has the potential to unleash trillions of dollars in unrealized capital gains into underdeveloped census tracts nationwide.
There are many different economic incentives available to help area manufacturers expand and strengthen their business. From tax abatements to economic development grants, local and state agencies offer these incentives to promote job creation and economic growth in our communities. Incentives can often mean the difference between a company starting a project or shelving it.
With two seats on the Erie County Industrial Development Agency (ECIDA) board of directors, the Buffalo Niagara Partnership provides the lone and important private sector voice on the issues affecting development and job growth in the region.