Context
For much of its history, the Buffalo Niagara region’s economy has been dominated by manufacturing, while agriculture has remained a stable economic engine for the region’s rural areas. Over the past several decades, and especially today, the economic climate is changing. As manufacturing employment continues to decline, the growth of the region’s “new economy,” defined by information technology, cross-sector partnerships, urban reinvestment and changing demographics, has started to take off. Of course, many impediments to economic growth, including poverty, high taxes and a declining population base, threaten to stymie such growth.
What Economy Measures
The State of the Region assesses the strength of the regional economy through indicators of labor market health, costs of living and doing business in the region, economic equity, as well as other measures of economic health.
The Road Ahead
The State of the Region believes that developing and maintaining accurate, up-to-date information on the regional economy is essential for promoting regional competitiveness. Especially for purposes of Economy, Buffalo Niagara must be viewed as one bi-national region, although comparable data across the international border are often lacking. The State of the Region encourages new and continuing efforts to collaborate across agencies and borders to improve access to data that can better inform regional action toward shared goals.
Economy Indicators - (Latest Indicator Updates)
1.1 Job Growth — 
(Nov 2007 )
Annual job growth rate for the Buffalo-Niagara Falls Metropolitan Area and Southern Ontario, overall and by industry, compared to those of the U.S. and other areas of New York State
1.2 Weekly Earnings — (Nov 2007 )
Average weekly wages overall in Western New York, with comparisons to average weekly earnings in New York State
1.3 Employment Concentration — (Dec 2002 )
Concentration of employment in Western New York and Southern Ontario’s 20 largest employers; distribution of those employers by industry
1.4 Cost of Doing Business — (Nov 2007 )
Business costs for Buffalo-Niagara Falls Metropolitan Area based on Relative Cost of Doing Business Index, which assesses labor productivity, energy and state and local tax costs as well as office rents with regard to impact on long-term employment growth; ranks region against other similar metropolitan areas across U.S.
1.5 Cost of Living — (Feb 2005 )
Cost of living index based on relative price levels for housing, transportation, utilities, groceries, health care and miscellaneous goods and services for middle-income households; compares Buffalo-Niagara Falls Metropolitan Area indices to the U.S. average and those of other metropolitan areas
1.6 Foreign Exports — (Nov 2000 )
Tracks value and destination of goods exported from the Buffalo-Niagara Falls and Jamestown Metropolitan Areas
1.7 Air Fares — (Feb 2005 )
Monitors average air fare in cents-per-mile for one-way trips within Buffalo and Rochester’s large domestic air markets
1.8 Patents — (Nov 2000 )
Total utility patents issued since 1990 within Western New York by the U.S. Patent and Trademark Office; comparison across selected metropolitan areas
1.9 Rail Costs — (Nov 2000 )
Tracks number of carloads and rail shipping costs (cents per ton-mile), by product, from the Buffalo-Niagara Falls Economic Area, with comparison to national average
1.10 Income Distribution — (Dec 2002 )
Distribution of household income by quintiles, or fifths, of the Buffalo-Niagara Falls Metropolitan Area and the non-urban parts of Western New York
Progress Over Time