The International Economic Development Council (IEDC) is the professional association for practitioners to learn best practices on how to grow their local economy. The organization provides educational opportunities for its members throughout the year, from webinars to multi-day conferences.
Tradable sector -- Or traded sector. A term that labels industries, or sectors of an industry, that can sell their goods or services in an international marketplace. The most commonly used example of a tradable sector is manufacturing, whose inputs and outputs, can span the globe.
New Flyer is the largest manufacturer of heavy-duty transit buses in North America with 3,800 employees and thirteen facilities across the U.S. and Canada. As part of the capital plan to upgrade public transportation in the New York City area, the Metropolitan Transportation Authority (MTA) awarded New Flyer a contract to refresh the entire system’s bus fleet. The contract required a portion of the final product be manufactured in New York State.
The economic developer’s toolkit in New York includes a variety of tax incentives, abatements, grants and loans that can be quite confusing, even for a seasoned professional. Many incentives at the state and local levels can be utilized for one project but not all incentives can be layered. In the case of the state’s two largest tax incentive programs – the Excelsior Jobs Program and Start Up NY – only one can be applied to a company’s project. That brings up the question – which program is best suited to benefit a company’s growth?
Summer is the time for road trips. The Invest Buffalo Niagara team recently visited our partner Jim Pierce in Wyoming County. InBN relies on our engagement with our local partners to stay on top of the assets and advantages to be found in our eight county area we market.
In November, members of Invest Buffalo Niagara’s team had the opportunity to tour the many aspects of Allegany County to visit firsthand the resources and assets it has to offer. Hosted by Allegany County’s Department of Planning and Development, we met with leaders from the county’s Chamber of Commerce, real estate owners and brokers and college officials.