How is the Economy Doing in Your State?

The U.S. economy is certain to grow in the next 10 years, but lets look at how jobs are being created in your state.

I live in Buffalo, NY and the outlook on the economy here as far as jobs creation has been a slow but positive one for many law makers and citizens.

I see growth happening in certain cities, such as Albany where companies like Kraft-Heinz has invested 20 million dollars in order to save 940 jobs.

However, just two years ago Kraft was likely to sell the plant leaving hundreds of people unemployed.

Apparently, New York state has spent more than $8 billion dollars for job creation programs each year, which is more than any state.  However, it has not met the plant’s goals at Kraft, which was a failure to the company.

kraft

Moreover, there was a 6 month investigation led by USA Today Network detailing the long-term economic situation by New York state.  For instance, there were on-going of numerous issues of transparency of how our taxpayer’s money was spent.

The shocking events took place while the investigation led by USA Today Network as a result over $13 billion incentives since Governor Cuomo took office:

New York Gov. Andrew Cuomo speaks during a news conference at the John Jay College of Criminal Justice in New York.

  • Money went to initiatives that in many cases fell short of the job goals, while others did not set any benchmarks for assessing their success or failure.
  • The state’s Regional Economic Development Councils have pledged more than $4.4 billion to 5,300 projects since 2011, but few have job-creation targets, and potential conflicts of interest emerge.
  • The state’s largest incentive program, tax credits for movies and TV shows, provided more than $730 million for 273 television and movie productions since 2014 — at a cost per job of $42,000.
  • One effort, the StartUp NY program, which provides tax-free zones to new businesses, dished out nearly $6 million in tax breaks in addition to $53 million in ads to promote it. It initially promised 3,324 jobs, but created a third of that as of the end of 2016.

Of course this is just the tip of the ice berg.

The Way I see It

eriecanalharbor

I currently reside in Buffalo, NY and when I look around at the city’s infrastructure and housing, it’s very slow moving and it’s like we’re stuck in the 1960s.  I’m sorry but compared to other cities I’ve lived in, such as Seattle and San Francisco, the economy and infrastructure is robust and the city is lively.  There’s more things to do in San Francisco rather than Buffalo.  I actually had a good reason to drive to the city in San Francisco.  There was the pier with lots of shops, a huge mall underground, Golden Gate park and the famous Golden Gate bridge.  Um..Buffalo has canal side.  What?!  That’s boring with only a few restaurants.

There’s limited social life in Buffalo and nothing really fun to do.  This town needs a major overhaul and when I say major it’s very needed badly.  It’s depressing when you see old broken rusty buildings downtown.  There’s no parks, no shopping malls, no train or bus stations and it’s just sad looking.  I don’t mean to be like a Debbie downer, but if you come here then you’ll see exactly what I’m talking about.

Development is badly needed.  I was surprised the water front wasn’t fully developed.   Instead, I discovered abandoned mills and old warehouses that used to employ hundreds of people.

I’m urging our law makers to start creating jobs like you promised.  Please think about your people here and making your city beautiful.  We actually love this city, but the only way to make us stay is to create jobs and build better housing for us.

Current US Economic Statistics

gdp_large

This information is based on current data from the U.S. Department of Commerce, Bureau of Economic Analysis that provide comprehensive statistics on the U.S. economy.

Buffalo Economic Statistics

At a Glance
  • Metro Population: 1,134,900
  • Major Industries: Financial services, Technology, Education
  • Gross Metro Product: $78 B
  • Median Household Income: $51,568
  • Median Home Price: $134,600
  • Unemployment: 4.9%
  • Job Growth (2015): 0.6%
  • Cost of Living: 10.5% below nat’l avg
  • College Attainment: 30.3%
  • Net Migration (2015): -630

 

As you can see I highlighted some areas, such as Job Growth, which has been a subject I’ve been focusing on.  It’s just another incident that our city needs to work on.  This is the reason that many college graduates continue to leave Buffalo.  The dying economy needs a plan to revitalize infrastructure, rebuild industries in technology, health care and education to build a thriving economy.  The wages here are very low at least 15% lower than other cities in America.  Another problem is that countries are taking our technology jobs here in the U.S. because I’ve witnessed it.  They pay immigrants from India to take our technology jobs because our government allow them to work here for much lower wages.  Thus, giving the upper hand at other foreigners to be employed.  It’s our government’s fault for allowing them to work here.  You know America the home of the free and the brave.  Whatever!  Now look what you’ve done to us. This is all just a huge mess and thanks to our congressmen and Senators and thanks to President Obama for allowing our country to be broke.

Hey, President Trump please help us we need a better town and a better economy.

Thoughts?

What do you think will change the economy? In your city or state?  I love to hear what you have to say.  Thanks for reading!

 

References:

Forbes, The Best Places for Business and Careers

BEA, Bureau of Economic Analysis- U.S. Economy at a Glance

 

 

Advertisements

4 thoughts on “How is the Economy Doing in Your State?

  1. For years I drove a boat on the Yukon river in Alaska and found out one very important thing… attempting to land the boat in a specific location while dealing with the current was a formidable task, and this pales in comparison to changing/turning our nations economy around. Each action by Washington no matter how large is but a gentle push in a different direction with only time and the continuing pushing in the right direction showing any tangible results. But because of the stupidity of our nations representatives focus do not expect any change in direction soon.

    Liked by 1 person

    1. In fact, I don’t expect anything from anyone today because I’ve been disappointed too many times. The stupidity from our representatives only led me to disappointments time again and just leave me in a state of rage and a complaining spirit.

      Like

  2. I agree with you our representatives do nothing to push us in the right direction to drive our economy to thrive. We have resources and the manpower to empower our country, but I don’t think our government understand business. They like to ship everything over seas. I get disappointed all the time.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s