Economic development will take time

January 20, 2012 Updated Jan 20, 2012 at 9:13 AM EDT

By WKBW News

January 20, 2012 Updated Jan 20, 2012 at 9:13 AM EDT

How long will it take to improve the economy? Area business leaders say it won't happen overnight, but many do agree that Governor Cuomo has laid down a solid five year plan and that he's taking urgent steps to push things in the right direction. That was the topic of this week's Business First Power Breakfast on Economic Cevelopment. Panelists say a down payment on the $1 billion economic development allocation from the state was made in the state budget, but it's not a blank check. It will come with a series of developments.

So what needs to be done to boost the economy? Kenneth Adams, with Empire State Development, told the crowd that if New York isn't more business friendly, we could lose opportunities. He says New York is preparing to roll out a new "open for business" marketing campaign.

Andrew Rudnick, with the Buffalo Niagara Partnership says New York needs a better delivery system and an easier business climate.

Howard Zemsky from the Regional Economic Development Council says we need to build upon clusters in the area like life sciences, agriculture, tourism and more.

Jennifer Parker, founder of the Black Capital Network, says we need more entrepreneurs who want to create their own success.

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