10-29-2013 02:45 PM

Buffalo development ramps up; site selector says keep it going


The arrival of Canadian-based Welded Tube in Lackawanna has site selectors taking notice of the Buffalo area's economic development rebound.




An impressive array of projects helped fuel the Buffalo Niagara Enterprise to another “better-than-expected” year, but a national site selector warned the region should not get too complacent with its recent streak of positive economic development news.
The BNE, at its annual meeting, said that it played a role in helping bring 10 new companies to the region, or assisting others in their expansion efforts. The companies, collectively, created 522 new jobs while retaining another 1,003 jobs. Those gains represent $253.21 million in new private-sector investment and have a total regional economic impact of $324.55 million.
The 14-year-old Buffalo Niagara Enterprise is the region’s economic development marketing agency. Its staff not only has put the region on the map of many site selectors, they also help craft incentive packages to bring new investment to the area.
Since 1999, it has helped 296 companies that resulted in $3.43 billion in new private sector investment while creating or retaining 39,139 jobs.
“This organization has performed to its mission,” said Randy Clark, Dunn Tire chairman and BNE chairman.
However, while the region has been in the midst of a significant economic development boom — with $3.1 billion worth of projects developed since 2010 — Buffalo is not alone in rebounding from turbulent times. The post 2008-economic doldrums are beginning to thaw and other cities and states are being very aggressive in landing new investment dollars, especially from foreign countries.
“The rest of the country is ramping up,” said George Tobjy, KPMG managing partner and a guest speaker at the BNE annual meeting.

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James Fink covers real estate, commercial development and government


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