Forbes: Buffalo Is The 5th Best City To Make Your Mark
An evening view at Canalside Buffalo.
Buffalo has faced its fair share of challenges, so it's always welcome when the city is recognized in a positive light by a national publication.
Forbes has ranked the top cities where individuals could make their mark. Of the 19 places the magazine identified as an "opportunity city", Buffalo came in at #5.
To determine which cities would make their list, the magazine considered a city's' median home sales, unemployment rate and population growth - especially among those between the ages of 25-39 years old. Only cities with a population of at least 150,000 residents were considered.
Here's what the magazine has to say about the Queen City:
The former industrial hub saw its population plummet with the decline of transportation, steel manufacturing, and grain milling, but is working hard to bring new companies to the area. Local efforts include 43North, a business plan competition with a $1 million prize, and Start-Up NY, an effort to get companies to move or expand into space at the State University of New York at Buffalo by offering businesses no personal or business taxes for owners and employees for ten years. Also, the city's Dollar Home program offers $1 homes to buyers who will restore and live in the home for at least three years.
City of Buffalo Profile
Population: 258,959
Median home sales price (Q1 2014): $65,000
Unemployment: 8.2%
Unemployment change July 2013-June 2014: -21.20%
Population growth 2008-2012: -1.5%
Pop. Age 25-39 (2012): 21.3%
Change in Pop. 25-39, 2010-2012: 4.70%
Violent crime (annual, per 100,000 people): 1,288.7
FORBES' Business and Careers Rank: 58