The Buffalo region's economy is based on a mix of industry, light manufacturing, life science research, service-oriented companies and high technology. Manufacturing has declined but it's still a significant part of the economy. Education, health services and finances have become more prominent in the economy. In addition, the region's "Byte Belt" includes about 700 high-tech firms which provide a large number of jobs.
Employment is provided in industries such as chemicals, pharmaceuticals, automotive components, plastics and polymers, food and food products, fabricated metals, medical instruments, aerospace and defense technology.
Buffalo has increasingly become a hub for bioinformatics and human genome research. Some of the research is being performed at the University at Buffalo and the Rosewell Park Cancer Institute. The University at Buffalo's technological resources are provided to private industry. The Buffalo Niagara Medical Campus includes a number of organizations and companies.
Buffalo includes the headquarters of M&T Bank and facilities for HSBC Bank USA, Bank of America and KeyBank. Merchants Insurance Group is also located in the city. Buffalo is also home to Rich Products, one of the largest family-owned food manufactures in the world. Labatt and New Era Cap Company also have their headquarters in the city. In addition, Ford has a plant in Buffalo.
The Buffalo and Erie County Workforce Development Consortium, Inc., offers numerous local programs for training and retraining employees. The Business Services Division of the Buffalo and Erie County Workforce Development Consortium is available to customize training programs for companies, coordinate on-the-job training and help transition displaced workers.
Buffalo's top employers:
- HSBC Bank USA
- Rosewell Park Cancer Institute
- American Axle & Manufacturing
- Buffalo General Hospital
- M & T Bank
- Ingram Micro
- Ford Motor Co
- National Fuel Gas Co
- Univera Health Care
- Niagara Mohawk Power Corp
- Catholic Health System, Inc
- New York Department of Transportation
- Erie County Medical Center, Corporation
- HSBC North America Inc
- Mercy Hospital of Buffalo
- Healthnow New York Inc
- R E Rich Family Holding Corporation
- Sisters of Charity Hospital of Buffalo, New York
The leading nonagricultural employment sectors in Buffalo:
- Trade, transportation and utilities
- Health services
- Professional and business services
- Leisure and hospitality
- Financial activities
Local businesses are provided assistance by useful associations such as:
- The Buffalo Economic Renaissance Corporation
- Empire State Development
- New York State Economic Development
- New York State Small Business Development Center
People interested in staying current with local business and industry activities may want to read the Buffalo News.