MAYOR MASIELLO PLEASED BY COMMON COUNCIL VOTE ON STATE ECONOMIC DEVELOPMENT ZONE EXPANSION/DISAPPOINTED BY COUNCIL RHETORIC
May 2, 2000
Contact: Peter K. Cutler 851-4841

BUFFALO (5/2/00) - Mayor Anthony M. Masiello today announced his pleasure with the Common Council's approval of the proposed expansion of the state Economic Development Zone, but expressed disappointment over public statements made by various members of the Council.

"The Council vote is a victory for the small- and medium-sized businesses that will benefit from inclusion in the state Economic Development Zone," stated Mayor Masiello. "My administration will continue its unwavering commitment to assisting businesses grow and prosper throughout the city. The expanded EDZ will provide the proper environment for businesses, particularly growing, entrepreneurial companies, to flourish, create new employment opportunities and generate new investment in Buffalo."

Despite the Mayor's pleasure at the outcome of the Council vote, the 7-6 decision, coupled with criticisms of the city's economic development policies, drew a sharp rebuke from the Mayor.

"The Council members have been briefed thoroughly on the city's economic development activities," stated the Mayor. "Evidently, the Chair of the Community Development Committee has chosen to ignore the facts that have been presented to her repeatedly. For that reason, I will repeat the facts again for Councilmember Gray's and her colleagues' benefit: the Buffalo Economic Renaissance Corporation's three-year goal of creating 1,351 new jobs reached 2,082 new jobs created, 52% of which went to low-to-moderate income individuals, 45% went to women, 37% went to minority workers and 68% are city residents; between 1994-99, 40 M/WBE loans were awarded to 21 minority-owned businesses, 11 minority women-owned businesses and 8 women-owned businesses; between 1994-99, 65% of BERC's loans went to businesses with 25 or less employees; and 69% of those loans went to neighborhood-based businesses (as opposed to 31% in downtown).

"Anyone who suggests that the Masiello Administration is not helping either small- or minority-owned businesses is simply misrepresenting the facts. In addition, nearly 75% of the state EDZ is located on the city's East Side. How can anyone who has reviewed this information reasonably assert that we are not helping these businesses. It defies logic. We will continue to be aggressive in helping business develop and create new wealth throughout the city and I will fight to guarantee that all business owners - small or large -- have an opportunity to thrive in Buffalo."