Friday, September 21, 2012

Buffalo's Economic Down Fall

The city of Buffalo, New York is the second biggest city in New York in terms of city population according to, but one of the poorest cities in the state of New York. The city’s population has been dropping ever since the 1960s when it use to be just over 530,000. What’s the cause of this population decrease? An article in one of Buffalo’s newspaper (The ArtVoice) actually had an article stating that the Dows Jones Industrial average stock market index increased from 2008 to the present year of 2012 a total of $3 billion. According to New York State’s Department of Labor, employment has also rebounded creating over 330,000 new jobs. So the question is why isn’t more people coming to live in the city of Buffalo? Does Niagara Falls have anything to do with it at all? Maybe families dislike moving into a city that is next to a tourist site such as Niagara Falls. 

After looking at the source of Buffalo’s economy, I have noticed that a majority of the income is coming from the University’s at Buffalo, the local/ public banks and steel manufacture. There does not look like there is a big influence of economic impact from the tourist attraction of Niagara Falls going into the city of Buffalo. The only major influence in terms of economic impact from Niagara Falls State Park to the city of Buffalo are major holidays like Independence Day in which tourist reservations increased by 30% according to the article below. However, other than major holidays the tourist site of Niagara Falls State Park just does not seem to have much beneficial economical influence to the city of Buffalo.

- Edward L.

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