August 18, 2009
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The city where The Natural was filmed and that gave birth to Buffalo Wings (Anchor Bar) is now attempting a rebirth. As with many upstate New York cities, Buffalo has seen much better days. Now, the spaces where bread was manufactured are now the factories of Buffalo’s knowledge-based economy.
Buffalo ranks as one of the most affordable markets in the country for commercial real estate, industrial space, and housing. Buffalo office rents are 18% below the national average, ranging from $15-$23 per square foot for Class-A space in the CBD, compared to $45-$60 in Midtown Manhattan. Buffalo's typical housing mortgage of $567 per month is roughly one-sixth of the median monthly payment in Los Angeles, $3,262. Commercial property taxes have been reduced 14.9% since 2006. Buffalo has a Historic Tax Credit Program. Adaptable historic structures are now ready for business uses. And the city was rated by Forbes Magazine in 2009 as one of the top places in America for singles.
Below are some salary comparisons:
Buffalo NYC Los Angeles
computer prgmr $59,160 $79,010 $78,290
architect $60,860 $85,220 $93,170 envirnmntl engnr $73,360 $81,980 $80,660
photographer $29,270 $44,270 $54,010
Source: U. S. Dept of Labor
The median home price is just $60,000 and Elmwood Village was named one of America’s “Ten Great Neighborhoods” by the American Planning Association.
The negatives are that in 1901, Buffalo was the eighth largest city in America. By 2008, its population had dropped by half, from a mid-century high of 580,000 to about 270,000. Major snow storms can create major headaches and public transportation is limited. But there is the Bills football team (which plays in suburban Orchard Park) and the Sabres of the NHL. The city is near Toronto and talk is of the Bills possibly moving to Canada.
For more info: http://www.ci.buffalo.ny.us/Home/Businesses
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