Southwestern New York State Economic Plan

About

Engagement

Background & SWOT

Action Plan

Evaluation

Conclusion

Data Visuals

Full PDF Plan

Business & Industry

Focus Group Meetings

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Southern Tier West held three focus groups that contributed to the Business & Industry section: the Business, Industry and Human Capital focus group, the Higher Education focus group, and the Local Commerce, Community Destinations and Tourism focus group. All groups indicated that regulatory and tax burdens at the state level and rising transportation and health care costs are negatively impacting businesses. While not all of these can be addressed on the regional planning level, there are steps to take regionally that can create a more supportive business environment. Interest in new business formation and small business assistance is rapidly increasing, and the region must share resources to support that growth.

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Strengths

geography and beauty of our natural environment, caring business community, outdoor recreation, abundant natural resources

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Weaknesses

lack of shovel-ready sites, lack of MWBE-certified businesses, lack of capital, poor housing stock, limited public transit, businesses' hesitation to try new approaches, failure to collaborate regionally,
distance between rural areas

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Opportunities

new momentum for tech hubs and industrial incubators, increased interest in rural outdoor tourism, attractive residential location for those who work remotely, increased collaboration opportunities

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Threats

state government regulations and barriers to business, lack of financial resources, business owners aging out without a succession plan in place

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Objectives

• Objective #1 Support companies in attracting and retaining employees and becoming employers of choice

• Objective #2 Create a welcoming business environment with shovel-ready sites and brownfield redevelopment plans
• ​Objective #3 Develop a regional strategy for BRE (business retention and expansion), data collection, and business succession
•  ​Objective #4 Develop an entrepreneurial ecosystem that fosters innovation and creativity

ACTION PLAN