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.
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:
- 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
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
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.
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!