The partnership will maximize social and economic impact in three Western New York cities by co-investing in projects and programs aimed at improving economic conditions to benefit these communities’ residents and businesses. It builds upon and accelerates collaborative, community-driven bodies of work that are already underway.
New York State will commit $200 million; Ralph C. Wilson, Jr. Foundation, along with other philanthropic and corporate partners will commit $81 million; and the remaining $19 million will come from each city’s local government.
The three pillars of the program are:
- Fostering small businesses, by providing programs to help improve and grow these enterprises, especially those owned by women and people of color, which expand choices for goods/services to these neighborhoods, revenue/income for community members, and job opportunities;
- Investing in placemaking, by funding improvements to local business districts, rebuilding community anchors and revitalizing neighborhoods; and;
- Preparing our workforce, by enhancing local residents’ skills and improving their access to opportunities for good-paying jobs.
Funded Projects and Programs
- A combined $180 million effort in Buffalo focusing on an expansion of projects and programs being conducted in historic East Buffalo, including more than $60 million for the Buffalo Central Terminal and its CTRC steward organization; $37 million for Broadway Market capital improvements and to set up a not-for-profit operating entity; major investments in the Michigan Street African American Heritage Corridor and to restore historic greenhouses at Martin Luther King, Jr. Park.
- A combined $40 million effort in Niagara Falls is supplementing initial funding growing out of the ESD/City 2021 planning efforts, including a $19 million program focused on food entrepreneurship anchored around that city’s historic City Market area along Pine Avenue; a $15 million program to restore, highlight and promote various heritage and community anchor facilities, like the Niagara Arts and Cultural Center’s theatre restoration and improvements to historic Oakwood Cemetery; and $5 million for the Niagara Falls Small Business Property Improvements Program, which is providing financial assistance for facade and other building improvements in targeted neighborhood business districts. Read more about the Niagara Falls Strategic Economic Development Fund here.
- A combined $80 million effort in Rochester, which includes major additional investments in that city’s ongoing waterfront efforts, such as ROC the Riverway and High Falls State Park; further support/expansion of a multi-faceted workforce training programs/facilities; and targeted small business assistance along commercial corridors in that city’s most disadvantaged neighborhoods.