Mayor Brown has responded to the recent Business First article that placed Buffalo as the “hottest construction market” in the Northeast. Using data from the U.S. Bureau of Labor Statistics (BLS), the announcement of the ranking has been making waves throughout the region.
“We continue to build a city of opportunity in Buffalo and this ranking is further acknowledgement of the economic resurgence that’s underway in Buffalo,” said Mayor Brown, noting that $5.5 billion in economic development activity is currently underway which is expected to create over 12,000 new jobs. “This is great news that adds to the momentum and we will continue to look for ways to promote job growth so that any city resident who needs work can find work, be it in construction or in any other industry.”
Mayor Brown touts the economic turn by stating that his strategic plan from 2006 is what helped to cause much of the momentum that we are seeing today.
- Residential property taxes have been reduced by nearly 16% and commercially by over 31%.
- Buffalo has achieved its highest credit rating in history
- Currently, over $5.5 billion in new economic development activity is underway, which is expected to create over 12,000 new jobs
- To complement the major development, the Brown administration has invested nearly $200 million in completed, ongoing or started infrastructure projects, including the Cars Returning to Main Street project
- Created dozens of new miles of bike lanes and walkable trails
- Invested more than $41 million in parks citywide
- Mayor Brown has also implemented new initiatives to create a more ‘business friendly environment’ by simplifying the permitting process for small businesses, controlled costs and reduced overhead in a number of city departments
Brown also points to the HarborCenter campus as a crucial milestone that came to fruition after he challenged the development community to come up with a plan for the site. The Mayor also made mention of RiverBend, and the City’s groundwork that led to the creation of the nation’s biggest solar energy systems installer.
In a recent press release, Mayor Brown included the construction and job stats that were featured in the Business First article (growth rates for the construction sectors in all 21 Northeastern markets):
- Buffalo, up 28.6% from 21,000 construction jobs in October 2010 to 27,000 jobs in October 2015
- Boston, up 28.4% from 82,000 construction jobs in October 2010 to 105,300 jobs in October 2015
- New York City, up 20.2% from 314,700 construction jobs in October 2010 to 378,300 jobs in October 2015
- Springfield, Mass., up 14.6% from 10,300 construction jobs in October 2010 to 11,800 jobs in October 2015
- Philadelphia, up 13.8% from 103,700 construction jobs in October 2010 to 118,000 jobs in October 2015
- Baltimore, up 13.4% from 69,200 construction jobs in October 2010 to 78,500 jobs in October 2015
- Portland, Maine, up 12.6% from 8,700 construction jobs in October 2010 to 9,800 jobs in October 2015
Images: One of the more remarkable construction projects that Buffalo has seen in recent history. Over 200 construction workers each day built 250 Delaware, Uniland Development Company’s mixed-use building downtown.