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Home > About BNE > Press Room > 2006 Archive > November > BNE reports on success of finding business

November 3, 2006
 
BNE reports on success of finding business
 
BY JAMES FINK
 
The Buffalo NIagara Enterprise had a good seventh year. Make that a very good year.
 
The region's primary economic development and marketing arm reported 38 "wins" during its recent annual meeting. The wins, which range from new manufacturing plants by Cobey, Inc. to headquarters for New Era Cap Co., helped retain or create 3,426 jobs and private sector investment.
 
Unlike industrial development agencies and other public sector entities, the BNE does not offer incentives to companies. The BNE focuses on marketing the region to site selectors and other economic development decision makers. It works in collaboration with the IDAs and local agencies.
 
"The 2005-06 fiscal year saw BNE's project and regional marketing activity reach an all - time high, despite the loss of significant government funding in the preceding year," said Randall Clark, BNE chairman and Dunn Tire LLC chairman. "Using investment and jobs as the primary benchmarks of our success, we are proud to report achievements that compare favorably with other like communities across the country."
 
While the BNE was claiming 38 local wins, economic hotbeds such as Kansas City reported eight; Phoenix, 18; Richmond,17; and St. Louis, nine.
 
In the BNE's sixth year, the economic development agency reported 36 wins.
 
Besides the New Era and Cobey deals, the BNE played a significant role in convincing companies such as Hydro Air Components Inc. to expand in Buffalo as opposed to shifting operations to North Carolina, where the company received a handsome incentive package.
 
The BNE also worked with and counted in its "win" column a major expansion by the AAA of Western & Central New York. The travel organization was considering expanding in Rochester or Syracuse. The AAA ultimately doubled the size of its Amherst headquarters.
 
" By identifying and focusing its efforts on the region's strongest assests, Buffalo Niagara Enterprise has solidified its role in attracting new business investment and retaining the region's existing economic base," Clark said.
 
In the BNE pipeline are 428 inquiries, leads and/or prospects including potential bck office centers by CitiCorp and HSBC Bank.
 
The BNE opperates on a $3 million annual budget, funded from private-sector investors. The BNE has a roster of 71 investors, about 20 percent who increased fiscal support from last year and six new investors.
 
"The agency has a 95 percent retention rate among its supporters," said Thomas Kucharski, BNE president.
Among the investors are prominent local companies such as the Buffalo Bills, Delaware North Cos. Inc., J.W. Danforth Co., Rich Products Corp., and Noco Energy Cos.
 
The BNE has mapped out a stratedgy for the coming year that includes improving the Web site, taking a more active approach in targeting business demographics and regions and strengthening its "Where Life Works" campaign.
 
The BNE is looking for more advanced manufacturing companies, back-office service centers for the finance and insurance industries, Canadian firms looking for a U.S. presence and life science firms.