Empire State Development spends nearly $2 billion annually in taxpayer money for loans, grants, tax credits and other incentives to companies and projects, but fails to properly evaluate most of its programs to determine if they actually are boosting the ...

Tagged with: audit comptroller dinapoli economy empire state development ESD legislature Taxes taxpayers thomas dinapoli

It’s a scorecard without a score, but the numbers speak for themselves. Rochester residents of color trail their white counterparts in every category that measures economic stability, according to a new report from Prosperity Now, a nonprofit organization that advocates ...

Tagged with: economy inequity poverty prosperity now scorecard unemployment

University of Rochester’s total fiscal impact on the economy was nearly $300 billion in 2019, with a local impact of more than $85 billion, a new report from the Center for Governmental Research Inc. shows. UR is a major contributor ...

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The state of New York has expanded eligibility for the $800 million COVID-19 Pandemic Small Business Recovery Grant Program in order to help more small businesses apply for funding. Beginning this week, businesses with revenues up to $2.5 million can ...

Tagged with: economy empire state development ESD grants harry bronson Kathy Hochul pandemic small business recovery grant program

The state of New York will continue its successful Regional Economic Development Council initiative and a more than $750 million Consolidated Funding Application. The CFA opened on May 10, enabling businesses, municipalities, nonprofits and the public to begin applying for ...

Tagged with: Cuomo economic development economy REDC regional economic development council

The August 2020 Survey of Consumer Expectations from the Federal Reserve Bank of New York shows a continued decline in pessimism about households’ financial situation. The report, from the New York Fed’s Center for Microeconomic Data, shows that home price ...

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Unshackle Upstate, an advocacy group for upstate job creators and taxpayers, has released an economic recovery plan that would halt minimum wage increases and reduce taxes. “Fast Forward – A Rapid Recovery Plan for the Upstate Economy” suggests delaying scheduled ...

Tagged with: covid economic development economy recovery unshackle upstate upstate

Gov. Andrew M. Cuomo appointed Bob Duffy, head of the Greater Rochester Chamber of Commerce and a former lieutenant governor under Cuomo, to coordinate public health and reopening of the economy in the Finger Lakes Region.  Cuomo said during his ...

Tagged with: Andrew Cuomo Bob Duffy covid-19 Denise Battles economy finger lakes michael mendoza Vincent Esposito

ACT Rochester has released its annual Regional Report Card, which shows that the nine-county Rochester region trails the state as a whole in six of the eight areas analyzed. As a region, in the categories of children and youth, economic ...

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The Upstate New York economy was already showing signs of a slowdown before the pandemic showed up. M&T Bank’s economist Gary Keith had prepared a presentation on the Upstate New York economy for for Upstate Capital members in Buffalo Thursday ...

Tagged with: Big Ditch Brewing Co. Buffalo economy Gary Keith M&T Bank Noa Simons Upstate Capital Upstate New York

Entrepreneurs nationwide are more optimistic about business conditions since July, a new report from Paychex Inc. shows. The latest Paychex Business Sentiment Report for Fall 2018 shows a broad improvement in business owners’ outlook since they were last polled in ...

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Rochester’s economy continued its growth spurt in July, with a drop in the jobless rate and soaring private sector job gains. The Rochester region ranked near the top among the 15 metro areas statewide for its percentage growth in jobs ...

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Outwardly, Rochester’s economy may appear to be improving. Take, for example, the city’s downtown revitalization efforts, including its innovation zone and business incubators, as well as its increased focus on tackling poverty in the region. But when the Brookings Institution’s ...

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A drop in the unemployment rate to a 16-year low raises a tantalizing question about the job market: How much better can it get? Earlier this year, economists worried the low unemployment rate meant businesses would struggle to find workers ...

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The U.S. economy revved up this spring after a weak start to the year, fueled by a surge in consumer spending. But the growth spurt still fell short of the optimistic goals President Donald Trump hopes to achieve through tax ...

Tagged with: economy economy track