About Buffalo Billion
In an extraordinary recognition of Western New York’s potential, New York State has committed an historic $1 billion investment in the Buffalo area economy to create thousands of jobs and spur billions in new investment and economic activity over the next several years. This $1 billion commitment to economic excellence is setting a new growth trajectory for jobs and the regional economy.
“A Path to Renewal: The Buffalo Billion Investment Development Plan” serves as a roadmap for implementation. Developed by the Western New York Regional Economic Development Council, it identifies six high-level strategies and the unique assets that will move the region forward on the path to sustainable, next-economy growth. High potential sectors include advanced manufacturing, health and life sciences, and tourism, while key enablers include entrepreneurship, workforce development and smart growth. The strategies are mutually reinforcing and together provide a framework that encompasses, contextualizes and aligns existing efforts, and guides future economic growth initiatives.
This funding isn't going to be used as a single silver bullet; it is helping set up a comprehensive and diverse portfolio of investments that collectively is driving the future of Buffalo’s continuing economic recovery. By inviting large investments in growth industries—similar to those which made New York’s Capital region into a world-class center for nanotechnology innovation and the home of major semiconductor manufacturers—the Governor’s plan for Buffalo is designed to create thousands of jobs and spur billions of dollars of new private sector investment and economic activity while setting the foundation for sustainable economic opportunity for future generations.
In January 2017, New York State announced its proposal for a $500 million expansion of the Buffalo Billion initiative to continue building on the renewed economic engines and reinvigorated civic spirit throughout Buffalo and the entire Western New York region. While the original Buffalo Billion created a dramatic shift in the dierction of the region's economy, this second phase focuses on ensuring that all Western New Yorkers have an improved quality of life and a role to play in the new Buffalo.
We are creating a region that is admired worldwide, that attracts more people to live, learn, work and visit; where entrepreneurs and businesses want to invest their time and capital; and where all our institutions reflect a transformative culture of inclusion, continuous improvement, adaptation and excellence.