“The BERC is proving once again that Buffalo means business by working to attract new businesses and investment in Buffalo,” said Mayor Brown. “The BERC was instrumental in bringing businesses like New Era and Blue Cross/Blue Shield of Western New York to our downtown core. In addition, we have seen tremendous strides made in our older commercial districts. This report shows how Buffalo is continuing to grow and thrive.”
Highlights of the 2005-2006 annual report:
- Real estate revenue has increased, while expenses have decreased
- Cash position has increased
- Since 2003, grant revenues have increased
- Since 2003, loan collections have increased
- The BERC workforce was decreased
Small businesses are also thriving, thanks to the Entrepreneurial Assistance Program (EAP), the Strengths Weakness, Opportunity and Threats (SWOT) Program, as well as other loan programs for small businesses. Businesses such as Buffalo MRI, Urban Valet, Lu Modern Classics, Printek, Be You Tiful, and others have taken advantage of one or more of these programs. Also, the opening of the Jefferson Avenue Marketplace is helping to bring more small businesses to the Jefferson Avenue retail corridor.
The Commercial Area Revitalization Effort (CARE) program has focused on improving several of the city’s older commercial districts such as Seneca Street, the Fillmore/Leroy area, Jefferson Avenue, Grant/Ferry area, and lower Niagara Street by providing funding for façade improvements. Next year, the CARE program will extend to the Lovejoy area and to Bailey Avenue.
“We continue to see growth in all the programs the BERC offers across the board,” said BERC President Timothy E. Wanamaker. “The BERC is committed to building a better Buffalo and looks forward to another great year in 2007.”
