From Business Today:
Four representatives from the Western New York Regional Development Council are gearing up to make their pitch to a state advisory panel, in hopes of securing $40 million in economic development funding.
Howard Zemsky, one of those representatives, said while the money won't solve all the region's problems, it will set Western New York on the right path.
In fact, he said, the strategic plan the council put together to prioritize which projects should be eligible for the money will go a long way toward putting the regin's leaders on the same page.
Many people in Western New York may be vehemently against the practice of extracting gas in the Marcellus Shale region via hydraulic fracturing, but an Amherst energy firm says we are benefitting from gas extracted there already.
Energy Mark president Gary Marchiori said heating bills in the region will be $351 less expensive on average this winter than last year, thanks to increased production in the Marcellus Shale and other shale formations across the country. The increased production is driving prices down, he said.
M&T Bank has been rated outstanding in terms of its performance under the federal Community Reinvestment Act by federal bank regulators. It was lauded for its lending, investment and services to the community.
The Community Reinvestment Act was enacted by Congress in 1977 to encourage banks to meet the credit needs of their communities by requiring them to invest everywhere that they take deposits. M&T has had the Federal Reserve Bank's highest CRA rating every year for nearly 30 years.
American Airlines' declaration of bankruptcy is a big story in the transportation industry. But in the Buffalo Niagara region, its real effect is little more than a hiccup. That's because American Airlines has a very small presence here, with just 3 percent of the market. At one time, it had the region's third-highest market share. But increased competition caused its enplanements to drop. Today, American Airlines typically runs just four daily flights to O'Hare International Airport in Chicago out of the Buffalo Niagara International Airport.
Who is getting hired, promoted and honored?
Guess who else declared bankruptcy:
taggedEconomic Development | Energy | Transportation