The Buffalo Billion II East Side Corridor Economic Development Fund SPRING 2019 Implement Smart Growth Foster a Culture of Entrepreneurship
Innovation
Placemaking
Strategies for a Workforce
New Buffalo Tradable Sectors
Prepare ABOUT THE EAST SIDE CORRIDOR ECONOMIC Our DEVELOPMENT FUND Workforce As part of Buffalo Billion Phase II placemaking strategy, $65 Advanced Manufacturing million was dedicated to revitalization efforts on the City’s East Tourism East Side through investments in stabilizing neighborhoods City of Buffalo Side Health | Life and ensuring opportunities for homeownership; Sciences strengthening commercial corridors by promoting mixed use, walkable districts; improving regionally significant historical and natural assets; expanding opportunities for workforce connections; and supporting and growing entrepreneurship. A ABOUT THE BUFFALO BILLION planning effort to engage the community to define the specific PHASE In extraordinary recognition of the region’s components of this effort began in mid-2018, and involved PHASE potential and bolstered by his confidence in establishment of goals; analysis of economic and land use data, Buffalo Niagara’s the WNY Regional Economic Development Strategic Plan for and past investments; and in-depth stakeholder involvement. Prosperity JANUARY 2017 Council’s (REDC) Strategic Plan, A Strategy During this process, it became clear that an East Side effort could for Prosperity, in January 2012, Governor not be limited to a series of public investments in efforts like Andrew Cuomo made a historic commitment streetscape improvements and to facilitate infill real estate projects to strategically invest one billion dollars in by outside developers. While propelling the East Side upward the Buffalo area economy (Buffalo Billion) to will indeed require some level of investment from the outside, it create new jobs and spur large-scale private also will require community investments in human capital and investment and increased economic activity. a bottom-up approach to better equip the residents, businesses, and property owners In response, the REDC developed the Buffalo already on the East Side with the tools and ability to invest in their own assets, start or Billion Investment Development Plan, a expand businesses, and grow wealth, all to the benefit of these neighborhoods, now and detailed market analysis and investment into the future. plan based on the strategic framework laid This report presents a portfolio of catalytic projects and programs aimed at collectively out in A Strategy for Prosperity. As part of the and to progressively improve economic conditions on Buffalo’s East Side. But it is not 2017-2018 State budget, the Governor and the intended to be single remedy. Working with other public and private funders, the report State Legislature funded a second round of also explores additional potential investments—outside of the East Side Corridor Buffalo Billion funding (Buffalo Billion Phase Economic Development Fund—that are priorities for the community, resulting in a holistic II), totaling $500 million, and a corresponding and sustainable approach to revitalization and a unifying voice for the community. plan for investment endorsed by the REDC.
DRAFT
PHASE PHASE PHASE 2011 A strategy for 2012 2012- 2017 2017 - in Western New York 2016 TODAY
WNY Regional Economic Development November 2011 Strategic Plan
NYS Regional Strategy for Economic Prosperity Buffalo Billion Implement Buffalo Billion Implement Development wins $100M Phase I Buffalo Billion Phase II Buffalo Billion Councils are for WNY announced Phase I Phases I and II formed
Informed by community input, detailed research and analysis
COUNCIL 2 The Buffalo Billion II East Side Corridor Economic Development Fund - SPRING 2019 ERIE CITY OF NYS WNY COUNTY BUFFALO
East Side
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