Business/Economy

The WBFO Business & Economy News Desk is funded by The M&T Charitable Foundation.

Governor Cuomo's Flickr feed

Gov. Andrew Cuomo unveiled a $168 billion budget plan that would close an over $4 billion gap by reducing some spending and imposing tax increases on health insurers, big businesses and prescription opioid users, among others. Cuomo said he also wants to look into legalizing marijuana in New York.


Governor's Office

Gov. Andrew Cuomo delivers his budget Tuesday, and the news is not expected to be good.


Easing the burdens of New York State's taxes and regulations, increasing bed tax allocations to a local tourism agency and renegotiating - not repealing - the North American Free Trade Agreement. Those are just a few of the many items spotlighted on the Buffalo Niagara Partnership's annual Advocacy Agenda, released this week.


Sam's Club

The Sam’s Club store in Jamestown is closing January 26, just one of 63 Sam’s Club stores across the U.S. to close.

Michael Mroziak, WBFO

KeyBank and its partner the First Niagara Foundation announced Thursday they are donating half a million dollars to Explore & More Children's Museum's ongoing construction project on Buffalo's waterfront.

 

It turns out that New York is the big winner when it comes to daily fantasy sports.

Architectural Resoirces

The debate continues over the future of Ascension Church, the landmark Linwood Avenue structure which the Episcopal Diocese wants to turn into senior housing. Common Council members on Tuesday heard disparate viewpoints on the $7 million proposal.

New York State Attorney General's Office

An investigation is underway into whether some propane companies engaged in price-gouging during the recent cold spell while others left customers freezing in their homes because of shoddy delivery service, New York State Attorney General Eric Schneiderman told the Associated Press on Tuesday.

Kodak

Kodak stock soared Tuesday, rising 119 percent, or $3.70 a share,  closing at $6.80, after the company said it is getting into the digital licensing and cryptocurrency market.

Karen DeWitt

Republicans in the State Senate say, despite the over $4 billion structural deficit, taxes need to be cut further and a property tax cap must be made permanent.


Buffalo Rising

Large development projects like John R. Oishei Children's Hospital helped to change the face of Buffalo in 2017. While big projects continue in 2018, some smaller, niche startups are bringing flavor to city neighborhoods. On WBFO's Press Pass, DeChantell and Jessica Marinelli of Buffalo Rising discuss two such efforts: an artisan-tailored butchery on Grant Street and a plant-based cafe and market.


Monday was the first full day of session in the New York State legislature, and lawmakers have a lot to contend with, including a multi billion dollar budget deficit.


Northland Workforce Training Center

The City of Buffalo has always been considered a blue-collar town. However, with many in the baby-boom generation at or nearing retirement, there is a need to introduce and educate a younger generation to jobs that will be available in the coming years.

Michael Mroziak / WBFO News

With the new federal tax law in place, local developers are breathing a sigh of relief that it wasn't worse for them. There had been a concern historic preservation tax credits would be abandoned and this method of early financing has been key in adaptive reuse of many older buildings in Buffalo.

Classic Fence consumer complaints settled by AG

Jan 3, 2018
Classic Fence and Lumber

The New York State Attorney General's Office says it has reached a settlement with an Amherst fence company that bilked New Yorkers out of $50,000.

WBFO file photo

Even with the passage of 35 years, Noel Varela has all-too-vivid memories of December 27, 1982. On this day, Bethlehem Steel announced plans to shut down nearly all steelmaking operations at its Lackawanna Plant within six months.

National Public Radio

Republicans in Congress had a major victory Tuesday, passing the president's tax program. Democrats were unable to block the bill before it went to the Senate. However, the bill will go back to the House for a second vote Wednesday because of changes mandated by arcane Senate rules, but it is expected to make it to the president's desk.

Gov. Andrew Cuomo, who’s vowed to lead a campaign against the state’s Republican Congressional representatives in the 2018 elections, has spent the final weeks of 2017 feuding with them over their votes on the federal tax overhaul bill.


Local developers have been watching Washington carefully, as Republicans in the two houses put together their tax bill, with potentially devastating effects on local development.

National Public Radio

New York Gov. Andrew Cuomo, who has instituted a minimum wage increase for most workers in the state, now wants to extend that rate to tipped workers, including wait staff and car washers. That news is causing a backlash from restaurant owners and small business groups.


Michael Mroziak, WBFO

Several months after Empire State Development announced plans by a New York City-based company to create hundreds of jobs in the Buffalo area, the ribbon was cut on its new offices. Strategic Financial Solutions, with the help of incentives from New York State, aims to create 1,500 jobs over the next five years.


National Public Radio

The Federal Communications Commission voted Thursday to end rules making the internet open to all - what is called net neutrality - and by the end of the day, New York State Attorney General Erie Schneiderman said, "See you in court."

Karen Dewitt File Photo / WBFO News

A ceremony to award economic development grants to regions of the state was overshadowed by developments on the federal tax overhaul plan in Washington, as the House and Senate announced agreement on a final plan to be voted on as early as next week.


Andrew Young

After seeing his grandmother burn herself on a toaster, Andrew Young had an idea. It led to an invention: the "Toaster Shooter." It's now a $250,000 winner.

courtesy governor.ny.gov

Gov. Andrew Cuomo and other state leaders on Wednesday gathered in Albany to announce an estimated $800 million in awards for the state's Regional Economic Development Councils. Western New York will receive $68.8 million for more than 100 projects.


LaunchNY.org

Where do you go if you've got a great idea for a new product or business but need advice on how to get started? And how to fund your dream? A local organization is giving entrepreneurs across the region a leg up.

Many parents will likely see the word “Fingerlings” at the top of their child’s holiday gift wish list this year. However, at the top of the Better Business Bureau's list is a warning.

The Buffalo Niagara International Airport scored a victory when Frontier Airlines decided to provide service there. According to Jim Fink of Business First, the discount air carrier was also being pursued by airports in Rochester and Syracuse. Fink says Frontier will fill an area need when it begins flying from Buffalo to Denver.


Michael Mroziak, WBFO

Business leaders and local elected officials were both celebrating the announcement Monday morning that for the first time in seven years, flights directly to Albany will again be available from the Buffalo Niagara International Airport.


County leaders across New York are the latest to complain about the tax overhaul plan now being crafted in Congress. They predict higher taxes for many New Yorkers, declining home prices and slowed economic growth.

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