Business/Economy

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

Updated at 7:10 p.m. ET

After decades of being the go-to toy store for many Americans, Toys R Us is officially going out of business. Unable to get its finances in order through a months-long bankruptcy process, the retail chain has reached the end of the line.

Michael Mroziak, WBFO

Mayor Byron Brown joked that Buffalo should be renamed "Ribbon-cutting City" as he joined others to dedicate a newly-completed affordable housing project inside a former school building. Those who joined him it's not the investment of state dollars alone that's helping the city's economic renaissance but how it's being spent.


Michael Mroziak, WBFO

The days leading up to Easter Sunday are the busiest for Buffalo's Broadway Market. While its official Easter shopping season doesn't begin until next week, the East Side landmark is offering a "sneak peek" this weekend to give the public an introduction to the vendors - and the improvements - they can expect this year.

hyatts.com

Hyatt's All Things Creative, a family-run art supply store, is planning to move out of its longtime Main Street location in Buffalo's Allentown neighborhood for a new headquarters in North Buffalo by year's end, a company spokesperson said.

In reporting the recent good news about the Buffalo economy, Jim Fink says he feels like a "broken record, but it's a good broken record." During his monthly appearance on WBFO's Press Pass, Fink notes the $75 million investment by Ellicott Development into its 500 Pearl project. "Wasn't all that long ago that collectively ALL of the development in downtown Buffalo might have equaled $75 million."

Keith Perry

Real maple syrup is a sweet treat, but it often comes with a hefty price tag. This is why researchers are working to develop a new method to produce syrup.

Business and environmental groups are not always on the same side, but when it comes to Lake Ontario’s shores, there is some common ground.

A Massachusetts company that makes silicon wafers for solar power cells has decided not to build its first commercial factory in a Genesee County business park after all.

Gas prices expected to reach 3-year high this spring

Mar 3, 2018
Alex Crichton / WXXI News

Gas prices have dipped lately, but that trend is not expected to continue, according to AAA.

Mike Desmond / WBFO News

Tesla says it is looking for several hundred more workers for its plant in South Buffalo, as production of solar panels and solar roofs increases.

National Public Radio

The electric car manufacturer Tesla sees New York State as the epicenter of growth for the eastern part of the United States. They are driving some of their vehicles across the region this week to promote new state legislation that would allow them to expand.

New York State

New York residents love their beer. Now home to 400 breweries, the state has surpassed its previous record of 393 beer-making outlets back in 1876.

R. J. Anderson / Cornell University

It is no secret Gov. Andrew Cuomo has been pushing for New York to invest more in hemp production and processing. On Wednesday, agriculture leaders are meeting at Cornell University's Ithaca campus in hopes of building upon early investments from the state.

Demolition may start on a decrepit waterfront landmark as early as next week after Buffalo's Planning Board on Monday approved Ellicott Development's Cooperage project just off Ohio Street.


Mike Desmond/WBFO

If restaurateurs and waitstaff agree on one thing, it's that replacing tips with a higher minimum wage is a bad idea.


A case that was heard Monday by the U.S. Supreme Court and will be decided later this year could have a big impact on public worker unions in New York.


Mike Desmond/WBFO

If everything goes right and Washington has the money to help pay for a Metro Rail extension, construction would start in 2024. WBFO's Mike Desmond takes a look at what's involved and what might be the payoff.


topsmarkets.com

Financial restructuring is underway at Tops Markets, now that the company has filed for chapter 11 in U.S. Bankruptcy Court. But will it be enough to keep the company afloat for the long haul?

New York State Comptroller's Office

When the final figures came out in sales tax collections across New York in 2017, there was good news for county governments in Western New York and for some cities.

Tops Markets

Tops Markets has put an end to the speculation, confirming Wednesday morning that it is filing for reorganization under Chapter 11 bankruptcy.

Chris Caya / WBFO News

For supporters of Buffalo's Elmwood Village, the good news is major development along the popular shopping strip. The bad news is that there are a lot of vacant storefronts. However, there is a push to figure out why the gap.

Dresser Rand

The union representing 250 machinists at Dresser-Rand in Wellsville said it was "shocked" to learn the Coats Street plant will close, laying off its 250 employees.

Google Maps

A popular Elmwood Avenue restaurant is now under new ownership. Pano's Restaurant has been sold to local developer Chason Affinity Companies, which plans to keep the iconic eatery open under its familiar name.

Is cryptocurrency here to stay as an investment?

Feb 19, 2018
bitcoin.com

Anyone who has followed Bitcoin’s rollercoaster ride in the investment market knows about its volatility. But that’s not stopping many people from rolling the digital dice, including many millennial investors. The cryptocurrency service continues to gain popularity.

Tops Friendly Markets, a Western New York staple for decades, may be heading for bankruptcy. Bloomberg.com is reporting the supermarket chain could file papers this month seeking court protection from creditors. Following the story is  Jim Fink of Business First who believes the news may be premature. 

National Public Radio

Some Democratic lawmakers are pushing for a measure that would make anonymous political ads on Facebook and other social media illegal. They say the ads are being abused to falsely represent their positions on issues.


Wegmans

Three area Wegmans will be closing overnights.

disneyinstitute.com

Niagara University will host a one-day professional development course in downtown Niagara Falls next month, featuring one of the biggest names in the entertainment and leisure business. Local organizers hope that once the name attracts participants, those guests will also get a look at the Cataract City's assets.


Michael Mroziak, WBFO

The future Explore & More Children's Museum at Buffalo's Canalside will have a late local icon's name added to the building when it opens next winter. The Ralph C. Wilson Jr. Foundation is providing a $6 million challenge grant to help complete construction and support its long-term sustainability.


WBFO file photo

On Thursday, Gov. Andrew Cuomo will detail his proposals to help New Yorkers affected by changes to the federal tax law. But Republicans who rule the state Senate are cool to the ideas, including one that creates a payroll tax instead of a state income tax.


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