Economic Development

  • New York’s Uneven Economy - Although the COVID pandemic caused double-digit unemployment levels in 2020, the nation's recovery has been rapid. Unemployment decreased quickly in New York and the country, dropping to 4.4% percent in New York and 3.5% in the nation in July 2022. The recently announced July number for the United States is…
  • The Economic Value of College Depends upon Where You Live - College graduates enjoy a substantial income premium over those with a high school degree. In New York State, the median income in 2019 for people aged 25 or older with a Bachelor's degree was $62,699. The median income for high school graduates was only $33,491. For those with advanced degrees,…
  • With a New Governor, New York Faces Economic Challenges - For decades, New York has had substantial disparities in economic performance. Although some parts of the State are doing relatively well, much of it has declining employment, higher levels of poverty, lower household income levels, and fewer adults working than the nation. Over most of the past decade, job growth…
  • COVID-19 erased New York’s Employment Gains over the Past Decade - From June 2011 to June 2019, New York saw employment increase by 388,440 - 4.4%. But by June 2021, the pandemic had erased all those gains. In June, the state's employment was lower than in 2011 - by 72,916 jobs or 0.8%. Both before the COVID pandemic and in June…
  • New York’s Population Increased by 823,147 between 2010 and 2020 while Upstate’s Declined - Based on the newly released 2020 Census data, New York's population grew by 823,147 residents - 4.25% - between 2010 and 2020. The State's performance was similar to others in its region and not far from the median growth rate for all states - 5.9%. But, more than three-quarters of…
  • Poverty in Upstate Metropolitan Areas: Myths and Realities - We live in an era in which long-held attitudes about race have been heightened by political campaigns that attempt to mobilize fears among white voters about minority group members and immigrants.  These appeals have ranged from claims that President Obama is a Muslim who was born in Kenya and claims…
  • New York State Gave $2.6 Million to Build a Food Greenhouse that Pays One Dollar Above the Minimum Wage - In April of this year, Green Empire Farms in the central New York city of Oneida became notorious as the location of more than 170 Covid-19 cases.  The facility is a massive 2.8 million square foot greenhouse where vegetables and fruit, including strawberries and cucumbers, are produced.  County health officials…
  • President Trump’s Economic Renaissance – Fact or Fiction? - During the 2016 campaign, Donald Trump claimed that his policies would "Make America Great Again," creating jobs by redressing trade imbalances.  He argued that “We will make America the best place in the world to start a business, hire workers, and open a factory,”   Trump claimed that he would change…
  • Covid-19: The Cost in Lost Jobs - With more than 190,000 lives lost and millions infected, Covid-19 has imposed a tragic toll on residents of the United States.  New York State was hit hard early on, and has lost 32,600 residents to the disease as of early September  But strong controls that shut down much of the…
  • Despite Agitation to Reopen Businesses, Upstate Covid-19 Cases Are Not Declining - Upstate areas are seeing increasing pressure to reopen currently closed businesses as the economic damage from Covid-19 restrictions increases.  With millions of New Yorkers unemployed and businesses facing the prospect of permanent closure, there is real need for relief.  But reopening should take place in a way that does not…
  • New Covid-19 Cases Decline Throughout New York - The number of new reported cases of Coronavirus in New York State has begun to decline.  The chart below, which shows the three-day moving average of new cases, indicates that after plateauing from April 3rd to April 10th, a decline began, with cases decreasing from a peak of more than…
  • Will New York Reopen for Business by May 1st? - Recent reports show that President Trump would like to reopen the national economy within a few weeks.  The Washington Post reported that "President Trump — concerned with the sagging economy — has sought a strategy for resuming business activity by May 1."   More recently, the President said that he expected…
  • Local Leaders’ Role in Combating the Economic Effects of the Covid-19 Pandemic -  The Covid-19 health response has shut down New York’s local economies.  With most business activities on pause, local government leaders should be addressing the economic impact now and preparing for the time when businesses are permitted to reopen. To date, the health impact of the virus in Upstate New York…
  • Countering the Economic Impact of the Covid-19 Pandemic - We have seen alarming estimates of the potential impact of the Covid-19 pandemic on disease and death, as well as on our economy.  Some have suggested that more than half of our population could be infected - more than 160 million people and that one or two percent of those…
  • Income Inequality in Metropolitan Areas - In many respects, the American economy has done extraordinarily well since the great recession of 2008. We have seen a long period of growth in employment, while unemployment has dropped to levels not seen in many decades. But this period has also seen a troubling increase in income polarization, which…
  • New York’s Amazon Debacle – Some Lessons - Amazon's decision to abandon its HQ2 project with 25,000+ future jobs in New York City led to acrimony with opposing politicians and some commentators blaming the company for abandoning its effort.   Representative Alexandria Ocasio-Cortez, an early project opponent, tried to re-frame her stance, saying, "We do not have to settle…
  • How Amazon Could Help Upstate New York - One of the Thanksgiving meal discussions at my house involved Amazon's new HQ2 and why Governor Cuomo didn't get the company to locate its new facility in upstate New York.  And, though my argument that upstate metropolitan areas lacked technology focused labor pools of sufficient size to be seriously considered…
  • Amazon HQ2 – A Good Deal for New York? - It is not surprising that the decision by Governor Cuomo to give Amazon $1.8 billion in grants and refundable tax credits to come to New York City for half of their second headquarters generated controversy.  Some have questioned the need to subsidize Amazon given New York’s labor pool advantages[1], and…
  • The Finger Lakes – Economic Challenges and Strategic Response: An Assessment - This research is a case study of employment challenges facing the Rochester Metropolitan area and the Finger Lakes region, and an analysis of the region’s strategic economic development plans and reports, developed in response to Governor Cuomo’s challenge to regions seeking economic development funding.  While the report finds reasons why…
  • Reconsidering “Lost Manufacturing Jobs – The Effects of Imports and Increased Productivity” - In a post examining the causes of the decline in manufacturing employment over the past fifty years, I concluded, like other analysts, that although increases in imported manufactured products had caused part of the decrease, most of the drop resulted from productivity increases from automation and process improvements.  See for…