Our region's economy, summed up in four reports
A new suite of reports on the local labor market has been released to help attract businesses and talent to Western New York.
The 2017 Labor Market Assessment was commissioned by the region's privately funded economic development organization, Invest Buffalo Niagara. Its president and CEO Thomas Kucharski says having accurate, timely and objective information about the workforce is necessary for marketing the community and attracting new companies. Kucharski says the last study was conducted in 2010.
"This year we decided to make it much more expansive - bringing in input from the regional councils, from our workforce providers, from our chambers, our IDAs, private companies - and really do a much more exhaustive analysis of this component of our community," Kucharski says.
The four reports provide detailed information about the Western New York economy, demand for labor, wages and industry performance. Invest Buffalo Niagara's Research Manager Matthew Hubacher says along with using the data to attract new jobs and investment - local partners can use it for their specific needs.
"Educators, and workforce trainers can use this data to target training programs to areas where skills gaps exist," Hubscher says. "Institutions of higher education can use the data to create specific programs in areas where deficits exist for graduates."
Hubacher says workers can use the data to identify good paying jobs that will be in demand in the future and elected officials can use the study to support workforce development programs.