Buffalo economy outpaces some big cities

September 19, 2013 Updated Sep 19, 2013 at 9:39 AM EDT

By WKBW Admin

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September 19, 2013 Updated Sep 19, 2013 at 9:39 AM EDT


Buffalo's economy is outperforming many big cities in the U.S. That's according to a new On Numbers report that came out this week. It measures economic growth in large cities across the country. Austin tops the monthly economic index. There's nothing new there. Austin has taken the number one spot 8 out of the last 12 months. Buffalo ranks 27th, outperforming nearly three-quarters of all major metros, including cities like Atlanta in 47th place, Charlotte, which is 66th, and Raleigh which ranks 81st.

Researchers say that's due to Buffalo's long term stability, which accounts for half of the score.

Buffalo ranks eighth in the U.S. on the long-term side for stable housing prices and steady local employment over five years, which boosted the overall score.

Housing values in Erie and Niagara Counties are up six percent since 2008. Average earnings for the local private-sector are up 12.5 percent in five years. Private-sector employment has grown one percent in that time.

Short-term growth makes up the other half of the score. We rank 55th there due to recent slowdowns in retail employment and personal earnings.

On Numbers is a division of Business First's parent company American City Business Journals.

You can get the full report at: http://www.bizjournals.com/buffalo/news/2013/09/17/buffalo-outperforms-several.html