Editing Buffalo, New York (section)

==Economy==
{{main|Economy of Buffalo, New York}}
{|class="wikitable" style="float:left; font-size:90%; text-align:center; margin:1em;"
|+Top private-sector Buffalo area employers, 2020<br /><small>Source: ''Invest Buffalo Niagara''</small><ref name="2020PrivateSector">{{cite web |title=Major Employers |url=https://buffaloniagara.org/wp-content/uploads/2020/01/Major-Employer_OneSheet-01_29_20.pdf |website=Invest Buffalo Niagara |access-date=12 May 2021 |archive-date=May 16, 2021 |archive-url=https://web.archive.org/web/20210516083005/https://buffaloniagara.org/wp-content/uploads/2020/01/Major-Employer_OneSheet-01_29_20.pdf |url-status=live}}</ref>
|-
!Rank !! Employer !! Employees
|-
| 1||[[Kaleida Health]]||8,359
|-
| 2||[[Catholic Health]]||7,623
|-
| 3||[[M&T Bank]]||7,400
|-
| 4||[[Tops Friendly Markets]]||5,374
|-
| 5||[[Seneca Nation of New York|Seneca Gaming Corp.]]||3,402
|-
| 6||[[Roswell Park Cancer Institute]]||3,328
|-
| 7||[[GEICO]]||3,250
|-
| 8||[[Wegmans]]||3,102
|-
| 9||[[HSBC Bank USA]]||3,000
|-
| 10||[[Tonawanda Engine|General Motors]]||2,981
|}
<!-- [[File:One M&T Plaza, Buffalo, New York.jpg|thumb|[[One M&T Plaza]], the headquarters of M&T Bank.]] -->
The Erie Canal was the impetus for Buffalo's economic growth as a transshipment hub for grain and other agricultural products headed east from the Midwest. Later, manufacturing of steel and automotive parts became central to the city's economy.<ref name="FedBankNY" /> When these industries downsized in the region, Buffalo's economy became service-based. Its primary sectors include health care, business services (banking, accounting, and insurance), retail, tourism and [[logistics]], especially with Canada.<ref name="FedBankNY">{{cite web |title=Buffalo Metro Economic Indicators |url=https://www.newyorkfed.org/medialibrary/media/research/regional_economy/charts/Regional_Buffalo |website=[[Federal Reserve Bank of New York]] |access-date=26 May 2021 |date=2020 |archive-date=May 26, 2021 |archive-url=https://web.archive.org/web/20210526020542/https://www.newyorkfed.org/medialibrary/media/research/regional_economy/charts/Regional_Buffalo |url-status=live}}</ref> Despite the loss of large-scale manufacturing, some manufacturing of metals, chemicals, machinery, food products, and electronics remains in the region.<ref name="LMA2017" /> Advanced manufacturing has increased, with an emphasis on [[research and development]] (R&D) and [[automation]].<ref name = "LMA2017">{{cite web |author1=[[University at Buffalo]] Regional Institute |title=Buffalo Niagara Labor Market Assessment 2017 |pages=6–11, 22–27 |url=https://regional-institute.buffalo.edu/wp-content/uploads/sites/155/2020/11/LOWSingles_LMA17_WhosOurEconomy.pdf |website=University at Buffalo Regional Institute |publisher=Invest Buffalo Niagara |access-date=12 May 2021 |date=2017 |archive-date=May 16, 2021 |archive-url=https://web.archive.org/web/20210516083004/https://regional-institute.buffalo.edu/wp-content/uploads/sites/155/2020/11/LOWSingles_LMA17_WhosOurEconomy.pdf |url-status=live}}</ref> In 2019, the U.S. [[Bureau of Economic Analysis]] valued the [[gross domestic product]] (GDP) of the Buffalo–Niagara Falls MSA at $53 billion (~${{Format price|{{Inflation|index=US-GDP|value=53000000000|start_year=2019}}}} in {{Inflation/year|US-GDP}}).<ref name="Buffalo-MSA-GDP">{{Cite web |title=GDP by County, Metro, and Other Areas |url=https://www.bea.gov/data/by-place-county-metro-local |url-status=live |access-date=May 5, 2021 |publisher=[[Bureau of Economic Analysis]] |archive-date=January 15, 2021 |archive-url=https://web.archive.org/web/20210115222144/https://www.bea.gov/data/by-place-county-metro-local}}</ref>

The [[civic sector]] is a major source of employment in the Buffalo area, and includes public, non-profit, healthcare and educational institutions.<ref name="PPGPublicSector">{{cite web |last1=Ksiazek |first1=Kristin |last2=Weaver |first2=Rusty |last3=Magavern |first3=Sam |title=Distinguishing The Social Sector: A Buffalo-Niagara Labor Market Study |pages=4–5 |url=https://ppgbuffalo.org/files/documents/economic_development/distinguishing_the_social_sector.pdf |website=Partnership for the Public Good |access-date=12 May 2021 |date=September 19, 2019 |archive-date=May 16, 2021 |archive-url=https://web.archive.org/web/20210516083005/https://ppgbuffalo.org/files/documents/economic_development/distinguishing_the_social_sector.pdf |url-status=live}}</ref> New York State, with over 19,000 employees, is the region's largest employer.<ref name="PublicSector2020">{{cite web |last1=Lane |first1=Paul |title=Government dominates largest Buffalo employers list |url=https://www.bizjournals.com/buffalo/news/2020/01/25/government-dominates-largest-buffalo-employers.html |url-access=limited |website=Buffalo Business First |publisher=[[American City Business Journals]] |access-date=12 May 2021 |date=January 25, 2020 |archive-date=January 20, 2021 |archive-url=https://web.archive.org/web/20210120230121/https://www.bizjournals.com/buffalo/news/2020/01/25/government-dominates-largest-buffalo-employers.html |url-status=live}}</ref> In the private sector, top employers include the [[Kaleida Health]] and [[Catholic Health]] [[hospital network]]s and [[M&T Bank]], the sole [[Fortune 500]] company headquartered in the city.<ref>{{cite web |last1=Glynn |first1=Matt |title=M&T Bank drops six spots to No. 444 on Fortune 500 |url=https://buffalonews.com/business/local/m-t-bank-drops-six-spots-to-no-444-on-fortune-500/article_920d429c-c92a-11eb-94e5-93573504c769.html |url-access=limited |website=[[The Buffalo News]] |access-date=9 June 2021 |language=en |date=June 9, 2021 |archive-date=June 9, 2021 |archive-url=https://web.archive.org/web/20210609185351/https://buffalonews.com/business/local/m-t-bank-drops-six-spots-to-no-444-on-fortune-500/article_920d429c-c92a-11eb-94e5-93573504c769.html |url-status=live}}</ref> Most have been the top employers in the region for several decades.<ref>{{cite book |title=City on the edge: Buffalo, New York |at=chpt. 14 |last=Goldman |first=Mark |date=2007 |publisher=[[Prometheus Books]] |isbn=9781591024576 |location=Amherst, N.Y. |oclc=74648927}}</ref> Buffalo is home to the headquarters of [[Rich Products]], [[Delaware North]] and [[New Era Cap Company]]; the [[aerospace]] manufacturer [[Moog Inc.]] and toy maker [[Fisher-Price]] are based in nearby [[East Aurora]]. [[National Fuel Gas]] and [[Life Storage]] are headquartered in [[Williamsville, New York]].

Buffalo weathered the [[Great Recession]] of 2006–09 well in comparison with other U.S. cities, exemplified by increased home prices during this time.<ref name="FedNY2019">{{cite web |last1=Abel |first1=Jaison R. |title=The Buffalo Economy Since the Great Recession |page=13 |url=https://www.newyorkfed.org/medialibrary/media/research/regional_economy/presentations/Abel_Buffalo-Since-the-Great-Recession_09-26-2019 |date=September 26, 2019 |website=[[Federal Reserve Bank of New York]] |access-date=12 May 2021 |archive-date=March 21, 2021 |archive-url=https://web.archive.org/web/20210321141303/https://www.newyorkfed.org/medialibrary/media/research/regional_economy/presentations/Abel_Buffalo-Since-the-Great-Recession_09-26-2019 |url-status=live}}</ref> The region's economy began to improve in the early 2010s, adding over 25,000 jobs from 2009 to 2017.<ref name="LMA2017" /> With [[Buffalo Billion|state aid]], [[Tesla, Inc.]]'s [[Giga New York]] plant opened in South Buffalo in 2017.<ref>{{cite web |last1=McKinley |first1=Jesse |author-link=Jesse McKinley |title=Cuomo's 'Buffalo Billion': Is New York Getting Its Money's Worth? |url=https://www.nytimes.com/2018/07/02/nyregion/cuomo-buffalo-billion-ny-kaloyeros.html |website=The New York Times |access-date=12 May 2021 |date=2 July 2018 |archive-date=May 8, 2021 |archive-url=https://web.archive.org/web/20210508013830/https://www.nytimes.com/2018/07/02/nyregion/cuomo-buffalo-billion-ny-kaloyeros.html |url-status=live}}</ref> The effects of the [[COVID-19 pandemic in the United States]], however, increased the local unemployment rate to 7.5&nbsp;percent by December 2020.<ref>{{cite web |last1=Robinson |first1=David |title=Buffalo Niagara jobless rate rises to 7.5% as orange zone limits take a toll |url=https://buffalonews.com/news/local/buffalo-niagara-jobless-rate-rises-to-7-5-as-orange-zone-limits-take-a-toll/article_72a8d75a-6015-11eb-b1e3-37ec275b9461.html |url-access = limited |website=[[The Buffalo News]] |access-date=12 May 2021 |language=en |date=January 26, 2021 |archive-date=March 17, 2021 |archive-url=https://web.archive.org/web/20210317185343/https://buffalonews.com/news/local/buffalo-niagara-jobless-rate-rises-to-7-5-as-orange-zone-limits-take-a-toll/article_72a8d75a-6015-11eb-b1e3-37ec275b9461.html |url-status=live}}</ref> The local unemployment rate had been 4.2&nbsp;percent in 2019,<ref>{{cite web |title=Bureau of Labor Statistics Data: Local Area Unemployment Statistics |url=https://data.bls.gov/timeseries/LAUMT361538000000003?output_view=data&include_graphs=true |website=[[Bureau of Labor Statistics]] |access-date=12 May 2021 |language=en-us |archive-date=March 19, 2021 |archive-url=https://web.archive.org/web/20210319022552/https://data.bls.gov/timeseries/LAUMT361538000000003?amp%253bdata_tool=XGtable&output_view=data&include_graphs=true |url-status=live}}</ref> higher than the national average of 3.5&nbsp;percent.<ref>{{cite journal |last1=Edwards |first1=Roxanna |last2=Smith |first2=Sean M. |title=Job market remains tight in 2019, as the unemployment rate falls to its lowest level since 1969 |url=https://www.bls.gov/opub/mlr/2020/article/job-market-remains-tight-in-2019-as-the-unemployment-rate-falls-to-its-lowest-level-since-1969.htm |journal=[[Monthly Labor Review]] |access-date=12 May 2021 |language=en-us |doi=10.21916/mlr.2020.8 |date=28 April 2020 |archive-date=May 1, 2021 |archive-url=https://web.archive.org/web/20210501210802/https://www.bls.gov/opub/mlr/2020/article/job-market-remains-tight-in-2019-as-the-unemployment-rate-falls-to-its-lowest-level-since-1969.htm |url-status=live |doi-access=free}}</ref>