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==Economy== [[File:Niagara falls fallen industry.jpg|thumb|Abandoned industrial building within "Chemical Row" in Niagara Falls|left]] Niagara Falls' main industry is tourism, driven primarily by the waterfalls.<ref name=Staba>{{cite news|url=https://www.nytimes.com/2005/05/30/nyregion/niagara-falls-already-in-decline-faces-another-blow.html|title=Niagara Falls, Already in Decline, Faces Another Blow|newspaper=New York Times|date=May 30, 2005|author=David Staba}}</ref> A 2012 profile from the Office of the [[New York State Comptroller]] reported that Niagara Falls has "struggled through decades of population losses, rising crime and repeated attempts to reinvent itself from a manufacturing town with some tourism to a major tourist destination."<ref name=FiscalProfile>{{cite report|url=https://www.osc.state.ny.us/localgov/pubs/fiscalprofiles/niagarafalls.pdf|title=2012 Fiscal Profiles: City of Niagara Falls|publisher=Office of the New York State Comptroller|date=December 2012}}</ref> The city became a [[boomtown]] with the opening of the [[New York State Power Authority]]'s [[hydroelectric]] [[Robert Moses Niagara Power Plant|Niagara Power Plant]] in the 1960s;<ref name=Staba/> the cheap electricity produced by the plant generated power for a burgeoning manufacturing industry.<ref name=FiscalProfile/> Along with the rest of [[Western New York]], Niagara Falls suffered a significant economic decline from a decline in industry by the 1970s.<ref name=Staba/> Today, the city struggles to compete with [[Niagara Falls, Ontario]]; the Canadian side has a greater average annual income, a higher average home price, and lower levels of vacant buildings and [[blight]],<ref>{{cite web|last=Brady|first=Jonann|url=https://abcnews.go.com/GMA/story?id=5814518&page=1|title=Niagara Falls: A Tale of Two Cities|publisher=ABC News|work=Good Morning America|date=September 16, 2008}}</ref> as well as a more vibrant economy and better tourism infrastructure.<ref>{{cite news|author=Nick Mattera|title=A tale of two cities|work=Niagara Gazette|date=February 5, 2011|url=https://www.niagara-gazette.com/news/local_news/a-tale-of-two-cities/article_78ee82fb-0b3f-5bf1-9d13-2d459a20ceee.html}}</ref> The population of Niagara Falls, New York fell by half from the 1960s to 2012. In contrast, the population of Niagara Falls, Ontario more than tripled.<ref name=Byrnes>{{cite news|author=Mark Byrnes|url=https://www.citylab.com/life/2012/06/can-niagara-falls-grow-again/2257/|title=Can Niagara Falls Grow Again?|work=The Atlantic/CityLab|date=June 14, 2012}}</ref> In 2000, the city's [[median household income]] was 36% below the national average.<ref name=Staba/> In 2012, the city's unemployment rate was significantly higher than the statewide unemployment rate.<ref name=FiscalProfile/> Significant sources of economic activity in the region includes the [[Niagara Falls International Airport]], which was renovated in 2009;<ref name=Byrnes/> the [[Seneca Nation of New York|Seneca Gaming Corporation]]'s [[Seneca Niagara Casino & Hotel]], which opened in the 2000s respectively;<ref name=Byrnes/><ref name=Staba/> and the nearby [[Niagara Falls Air Reserve Station]].<ref name=Staba/> In late 2001, the State of New York established the USA Niagara Development Corporation, a subsidiary to the State's economic development agency, to focus specifically on facilitating development in the downtown area. However, the organization has been criticized for making little progress and doing little to improve the city's economy.<ref>{{cite news|url=https://www.niagara-gazette.com/news/local_news/usa-niagara-the-times-square-promise/article_ffd4acc9-bc2d-5bbf-8346-23b573fc7661.html|title=USA NIAGARA: The "Times Square" promise|newspaper=Niagara Gazette|date=February 1, 2009|author=Mark Scheer}}</ref> ===Convention Center=== [[File:Niagara Falls Convention Center (NFCC), New York.jpg|thumb|right|Niagara Falls Convention Center (NFCC)]] From 1973 to 2002, the city had a [[Niagara Falls Convention and Civic Center|Convention and Civic Center]] on 4th street. In 2002 the venue was converted into the [[Seneca Niagara Casino & Hotel]]. In 2004, a new Niagara Falls Convention Center (NFCC) opened on Old Falls Street. The Old Falls Street venue has 116,000 square feet for exhibitions and meetings, and a 32,200-square-foot event/exhibit hall.<ref>{{cite web |title=Niagara Falls Conference Center |url=https://esd.ny.gov/usan-niagara-falls-conference-center |website=Empire State Development |publisher=State of New York |access-date=26 October 2023}}</ref> ===Tourism=== [[File:Cave of the Winds elevator building in winter.jpg|thumb|The [[Cave of the Winds (New York)|Cave of the Winds]] building in the winter]] The city is home to the [[Niagara Falls State Park]]. The park has several attractions, including [[Cave of the Winds (New York)|Cave of the Winds]] behind the [[Bridal Veil Falls (Niagara Falls)|Bridal Veil Falls]], [[Maid of the Mist]], a popular boat tour which operates at the foot of the [[Rainbow Bridge (Niagara Falls)|Rainbow Bridge]], Prospect Point and its [[Prospect Point Observation Tower|observation tower]], Niagara Discovery Center, [[Niagara Falls Underground Railroad Heritage Center]], and the [[Aquarium of Niagara]]. Several other attractions also near the river, including [[Whirlpool State Park]], [[De Veaux Woods State Park]], [[Earl W. Brydges Artpark State Park]] in nearby [[Lewiston (town), New York]], and [[Fort Niagara State Park]] in [[Youngstown, New York]]. Attractions in the downtown include the [[Seneca Niagara Casino & Hotel]] and Pine Avenue which was historically home to a large [[Italian American]] population and is now known as Little Italy for its abundance of shops and quality restaurants.
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