Welcome back to another edition of BNE's Good News Weekly!
NYPA Power Aids Investment & Job Creation
The New York Power Authority Board of Trustees approved three low-cost power allocations this past week that will help spur investment and job creation in the region. One of the companies, Nulife Glass, is a BNE project that our staff has been working with since October of last year and that we hope to be able to convert to a win before our fiscal year ends in June. Click here to see what Nulife's CEO Simon Greer said about our role in their project.
In addition to the $3.75 million investment and 25 new jobs being proposed by Nulife, Aurubis Buffalo and FMC Corporation will invest a combined $16.7 million and create an additional 90 new jobs as a result of their hydropower allocations. BNE has long valued our working relationship with NYPA and we continually promote the value of low-cost hydropower in our attraction efforts. With a combined allocation of 3,800 kilowatts of power, three companies will be positioned to invest more than $20 million and create 115 new jobs while helping to retain another 816 jobs. I call that a great return on NYPA's power investment.
M&T Survey Shows Optimism Growing Over Last Year
So much of our economy is impacted by the confidence of both businesses and consumers, and a new level of confidence identified in a recently concluded semiannual study could point to brighter days on the horizon. In analyzing the results of BNE investor M&T Bank's Economic Outlook Survey, vice president & regional economist Gary Keith indicated job growth, increased output of goods and services and an increase in business confidence across upstate New York are all pointing to a more sustainable economic recovery.
Of the approximately 600 business customers across the banks seven-state footprint responding to the survey, roughly one-third expect to hire more workers in the next six months. There were other encouraging signs as well with 58% of middle-market businesses expecting improved sales over the next six months while 46% think the national economy is improving. Click here to read more of the survey results which I think you'll find very encouraging.
And finally . . .
If you haven't been following the story over the last month or so, this week marked the last day of operation of the Millard Fillmore Gates Circle Hospital. And with that closing, an exciting new chapter has begun in the heart of our Buffalo Niagara Medical campus with the opening of the Gates Vascular Institute. Click here to read about the new facility and the dynamic impact it will have on our life sciences industry here in the region.
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Have a great weekend and we'll see everyone next week!
A leading Professional Employer Organization (PEO), Alcott HR Group provides comprehensive and cost effective human resources solutions for small to medium sized businesses. Founded in 1987, the company has offices in Buffalo, Long Island and New York City. An active participant in many BNE attraction projects, Alcott HR Group is BNE's newest investor, and Western New York Director of Operations and Sales John Bradley represents the company on BNE's Partner Investor Council.
Have a great weekend and we'll see everyone next week!
