Search Results
Journal Article
Economic restructuring in western New York State
We explore the distinctive patterns of Buffalo and Rochester's economic restructuring in detail. We compare the board structural changes in Buffalo's economy with those in Rochester's, and the changes in both metropolitan economies with those in the national economy. We also seek to understand the roots of these changes through an analysis of industry-level data. We find that although Buffalo and Rochester remain highly dependent on goods production and distribution, both cities have followed the national trend away from goods producing industries and toward service industries.
Journal Article
Vitality in upstate medical manufacturing
We describe the medical manufacturing industry generally and examine the industry's presence in upstate New York and its metropolitan areas. We show that upstate has a considerable employment concentration in the manufacture of both medical devices and pharmaceuticals. This activity is distributed widely among the region's metropolitan areas, with Buffalo, Glens Falls, Rochester, Syracuse, and Utica specializing in the industry overall and Albany showing strength in two subindustries.
Journal Article
The foundations and practice of historic preservation
The authors examine historic preservation and show why it serves as an important force in the economy, discussing the motivations for historic preservation and how the practice has evolved, and explaining why government plays a role in preservation and how policy is implemented. Problems created by the competition between preservation and other interests are presented.
Journal Article
The demand for local services and infrastructure created by an aging population
Upstate New York, with a growing senior population, is seeing an increase in the number of frail and disabled elderly who rely on local services and infrastructure and are concentrated in the inner cities and older suburbs. While local governments and institutions will face greater pressure to provide services and infrastructure to this expanding segment, the challenge may prove especially difficult for many upstate communities, given their environment of slow economic growth and fiscal stress.
Journal Article
Understanding regional economic growth in the new economy: industry clusters
This article seeks to explain why industry clusters are receiving so much attention. It discusses how and why clusters form, what makes them successful, and why they are believed to contribute to regional economic growth. The article also examines what the evidence on industry clusters suggests about local economic development, and describes strategies used by communities adopting a cluster approach. The final section outlines New York State's efforts to identify the industry clusters that are important to its economy, as well as the challenges faced in this process.
Journal Article
Buffalo's employment on the rise
Employment growth in 1999 for the Buffalo metropolitan area was the strongest in a decade. Buffalo's job growth rate of 1.6 percent was still less than that of the U.S., upstate, and New York State as a whole. In a second section on the cost of rail shipping in Western New York, we present data showing that rates for the four studied commodities have in fact been above national averages. Although it is difficult to determine the exact reasons for Buffalo's higher prices, some combination of higher costs and a lack of competition likely explain the differential.
Journal Article
Economic strength in rural New York
In New York State, where economic growth has been sluggish for much of the last decade, the rural economy has done relatively well. The population and labor force in rural areas are expanding, and the number of jobs growing. We take a look at this robust rural economy, examining population and job growth, industrial composition, and income patterns in the state's rural areas.
Journal Article
Conference explores inner-city business development
The May 1 conferences titled "The untapped urban market: attracting business to the inner city," and presented by the Buffalo Branch of the Federal Reserve Bank of New York in partnership with the University at Buffalo Department of Planning, discussed the economic challenges faced by inner-city communities and explored effective strategies for business development. We summarize the various inner-city development models presented at the conference and the discussion that arose around them.
Journal Article
Economic diversity and New York State
We consider why broad-based economies have some advantages over their more specialized counterparts. We show that diversity can be a spur to productivity and innovation, and that firms in a region with many types of businesses will enjoy easy access to the resources and services needed for production. In addition, we argue that regions with a broad mix of industries possess a buffer against economic shocks that adversely affect individual industries.
Journal Article
Small businesses in upstate New York rank barriers to growth
The Buffalo Branch of the Federal Reserve Bank of New York and the Center for Governmental Research (CGR) surveyed small businesses in western and central New York State. The object of the survey was to identify what small business owners perceive to be the chief barriers to the growth of their companies. We provide an overview of the survey and its findings. The barriers to growth cited in upstate New York are similar to those cited nationwide: nonwage worker costs, state and federal taxes, and energy costs. Small business owners also see several advantages to their upstate New York ...