BUFFALO — The so-called "Buffalo Billion" is actually more like a billion and a half.
The initiative comes from Governor Andrew Cuomo. The state picks the projects and spends the money. Buffalo and Western New York get something every community wants: more jobs.
But The New York Times article by reporter Jesse McKinley asked the question: Is New York getting it's money's worth?
The Monday story chronicled the job creation short-comings of the state spending program.
The $750,000,000 Riverbend project, which today is the Tesla solar manufacturing facility. When pitched to the public, the Governor touted it would eventually employ 3,000 people. Today, there are some 600-700 workers at the plant.
IBM was hailed as coming to Buffalo and with it some 500 high-paying, high tech jobs. Instead, as our journalism partners at Investigative Post discovered, it is more like 200 jobs. It's more of a call-center and the pay is not 'high'.
And then there is Wonderfalls. A huge entertainment complex where the old Rainbow Centre mall now stands in Niagara Falls. There was to be a hotel and indoor water park. Some 1,500 jobs would be created. The project even hired Uniland as a preferred developer. It has yet to start some three years later.
Are local elected officials okay with that return on a billion dollars investment? We asked Buffalo Assembly Member Crystal Peoples-Stokes. She remains a fan of the Buffalo Billion, but sAID, "Would I love to see it get to those original numbers when it was laid out? I would love to see that happen. But, we’re not there yet."
We also asked Buffalo Mayor Byron Brown, who is close to the governor. Brown says it's too early to judge and he points to the project's spin-off effect.
“We’re seeing more private sector investment in the community. We’re seeing more private sector interest in the community. We’re seeing private sector companies from different parts of the state and nation coming to Buffalo to look at investment opportunities in this community,” the mayor said.
Jin Heaney, executive editor at Investigative Post points out per job, the Buffalo Billion is spending almost a million dollars each. Compare that, says Heaney to the cost of job creation at the Erie County, a paltry $3,200 per job created.
We did reach out to the governor's office for comment. We heard back from Howard Zemsky, CEO of Empire State Development, the agency at the helm of the Buffalo Billion. Zemsky took issue with the Times reporting.
“Over the past week, The New York Times has published three articles about Buffalo; two were positive stories written by people who took the time to visit and experience the city firsthand. The third article, written by a politics reporter in Albany, turned a blind eye to the many dramatic improvements that continue to change Western New York for the better."