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The Niagara Falls Central Business District, where exciting development takes place!

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Niagara Falls Central Business District- Where Exciting Development Takes Place!

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Page 1: Central Business District

The Niagara Falls Central Business District, where exciting

development takes place!

Page 2: Central Business District
Page 3: Central Business District

World’s Most-Visited Tourist Attractions Source: Travel& Leisure Magazine 2011

#1 Times Square, New York

City

39,200,000

#2 Central Park, New York

City

39,200,000

#3 Union Station,

Washington, D.C.

37,000,000

#4 Las Vegas Strip

29,467,000

#6 Grand Central Terminal,

NY City

21,600,000

#7 Faneuil Hall

Marketplace, Boston

18,000,000

#8 Disney World’s Magic

Kingdom, Orlando

16,972,000

#9 Disneyland Park

Anaheim, CA

15,980,000

#10 Grand Bazaar, Istanbul

15,000,000

#5 Niagara Falls

22,500,000

Page 4: Central Business District

The geographic location of Niagara Falls, New York provides access to

38% of the U.S. population and 59% of the Canadian population within a

1-day drive…that’s nearly 140 million people.

Page 5: Central Business District

Bridges located in

Niagara County

U.S.– Canada International Border Crossings for Trucks and

Passenger Vehicles in the Buffalo-Niagara Region

Page 6: Central Business District

0

2

4

6

8

10

12

14

Passenger

Trips (

in m

illio

ns)

Buffalo Niagara

Detroit, MI

Port Huron , MI

Blaine, WA

U.S.- Canada Passenger Trips by Border Crossing Source: Bureau of Transportation Year 2011

Page 7: Central Business District

Buffalo Niagara consistently ranks as the top U.S.-Canada border crossing region for

passengers. The region ranks 2nd behind Detroit-Windsor for truck crossings.

U.S.- Canada Border Crossings in the Buffalo Niagara Region by Rank

Compared to Other U.S.- Canada Border Crossing Regions Source: Binational Economic and Tourism Alliance, Year 2012

Crossing Statistics Border Rank % of All Entries from

Canada to U.S.

Trucks 2 17%

All Trains 3 10%

Passenger Trains 4 13%

All Buses 2 25%

Passenger Buses 1 35%

Personal vehicles 1 20%

Personal vehicle w/ passengers 1 22%

Pedestrians 1 64%

Page 8: Central Business District

20

30

40

50

60

70

80

90

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 (est.)

$U

.S. D

oll

ars

(in

bil

lio

ns)

Imports

Exports

Total Trade

Linear (Total Trade)

Value of Overland Trade in the

Buffalo Niagara International Trade Gateway Source: Binational Economic and Tourism Alliance, 2010 – Trade data obtained from

Research & Innovative Technology Administration Bureau of Transportation Freight Data

• Total trade increased from 2002 until 2008 peaking at more than $80 billion in combined imports and exports.

• The decrease in 2009 was related to the global economic downturn, which saw U.S. GDP drop by almost 3%.

• The overall trend shows a continued increase in the value of overland trade in the Buffalo Niagara trade gateway.

Page 9: Central Business District

2.5 2.8 2.5 2.7 2.8 3.4 3.5 3.8 3.2 2.8 2.7 2.5 2.4 2.5 2.6 2.3 2.5 2.6

5.4 5.8 6.2 9.3

4.8 6.9 6.8 8.3 7.4 6.2 6.9 5.0 5.3 5.0 4.4

3.9 3.7 4.5 4.6

4.6 4.7 4.6 4.3 4.3 4.8 4.6

5.0 4.6 4.5 5.0

5.0 5.4 5.5

6.1

6.1 5.6 5.5 5.7 5.6 6.0 5.4 6.2 3.8 2.9 3.2 5.0 5.7

6.1

6.2 7.5

8.4 8.1 7.4 7.3 6.9 6.5 6.8

18.6 17.0

14.0

12.5 12.2 12.7

10.3 11.6 10.2 12.0 10.6

9.6 10.2 8.9 8.2

8.8 8.4

9.2 8.7 8.1

8.1 8.3 9.3 9.3 9.2 8.8

8.4 9.3 8.9 8.9

9.0 9.4

9.3 8.5 8.9

10.1 10.4 11.7 11.7 12.0 13.1

14.0 12.4 15.2 14.3

19.5 20.8

21.5 23.9 24.4

19.4 18.6 17.2 16.1 14.6 14.9

15.3 15.5 15.8 15.6

25.6 26.7 28.3 24.2 23.0 24.1 22.8 23.3 23.9 24.5 24.3 25.5 26.3 25.3 27.4

0

10

20

30

40

50

60

70

80

90

100

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Pro

po

rtio

n o

f To

tal

Tra

de (

%)

All Others Combined

New York

Pennsylvania

Ohio

Michigan

California

New Jersey

North Carolina

Illinois

Massachusetts

Proportion of Total U.S. Overland Trade with Canada by State Source: Binational Economic and Tourism Alliance, Year 2011

• Nearly 16% of all trade in New York State trade and 14% of all trade in Pennsylvania is

with Canada.

Page 10: Central Business District

U.S. Bound Canadian Traffic – 2011 Source: Niagara Falls Bridge Commission, Year 2011

Vehicle Crossing per month Lewiston - Queenston Whirlpool Rainbow

January 106,238 14,740 100,829

February 104,819 13,795 97,447

March 134,854 16,942 122,369

April 142,380 19,855 142,528

May 156,306 21,837 156,527

June 158,061 22,385 168,366

July 173,175 27,058 219,959

August 180,129 27,564 217,957

September 165,690 24,856 164,851

October 157,198 23,493 155,367

November 150,633 21,915 140,094

December 150,738 22,921 145,670

1,780,221 257,361 1,831,964

Each Year approximately 3,869,546 vehicles enter the United States from Canada

via Niagara County’s three international bridges.

Page 11: Central Business District

63%

17%

11%

9%

Recreation (attend events, vacation, visit second home)

Visit friends and relatives

Business convention

Other (shopping, personal, etc.)

Reason for Trip for the 20 Million Canadian Visitors

Staying One or More Nights in the U.S. in 2010 Source: International Trade Administration, 2010

Page 12: Central Business District

Total Recreational Trips

6.2 Million

Overnight Recreational Trips

2.8 Million

Overnight Recreational Trip Spending

$491 Million

Recreational Day

Trips

3.4 Million

Recreational Day Trip Spending

$220 Million

Total Spent for Recreational Trips

$711 Million

The demographic profile of the average Canadian traveler:

48 year old educated adult w/out children under age 18

Employed with an income between $25k-149.9k

The Canadian Traveler Source: Longwoods International-Visitor Report

Page 13: Central Business District

MSA’s Rank Average Home

Price (National

Avg. $171,700)

Unemployment

Rate (National

Avg. 10.2)

Percent

above/below

National Cost of

Living

Quality of Life

Pittsburgh, PA 1 $116,400 7.8 -12.2

Ranked Best Sports City:

Pittsburgh Pirates, Pittsburgh

Steelers, and the Pittsburgh

Penguins

Buffalo-Niagara,

NY 2 $119,700 8.3 -14.4

Many Area Parks including the

Mighty Niagara Falls. Home to

the Buffalo Bills, Buffalo

Sabres

Omaha, NE 3 $137,600 4.7 -12.4

Home to Warren Buffet and

therefore has attracted 5 Fortune

500 Companies

Fort Worth, TX 4 $119,300 8.3 -10.2

Growing arts and culture. Home of

the Dallas Cowboys and Texas

Rangers

Austin, TX 5 $188,600 6.5 -2.4

“crazy quilt” mixture of art, improv,

country music, environmentalism

and high tech.

Top 5 Cities to Move to in America Source: CNBC 2012

The Buffalo Niagara region has transitioned from its industrial past into a more

diverse and sustainable economy, and therefore considered a great place to live!

Page 14: Central Business District

Number of Employees in Niagara County by Employment Sector Source: U.S. Census Bureau County Business Patterns, 2010

Health care and social assistance

10,366

Retail trade 10,163

Accommodation and food services

8,429

Manufacturing 7,784

Business support services

3,232

Other services 2,832

Construction 2,406

Transportation and warehousing

2,201

Wholesale trade 2,086

Professional, scientific, and technical services

1,898

Educational services 1,887

Management of companies

1,315

Finance and insurance 1,217

Information 794

Arts, entertainment, and recreation

791 Other 905

Page 15: Central Business District

Metropolitan

Statistical Area

Accountant Human

Resources

Generalist

Computer

Programmer

IT

Systems

Admin.

Customer

Service

Rep.

Insurance

Underwriter

Claims

Adjuster

United States $50,126 $50,312 $66,564 $67,690 $34,539 $52,485 $45,269

Boston, MA $53,830 $54,041 $72,927 $74,416 $37,882 $56,513 $48,327

Buffalo-Niagara,

NY

$48,659 $48,852 $64,228 $65,458 $34,020 $51,120 $43,608

Charlotte, NC $48,917 $49,119 $66,937 $68,283 $33,379 $51,491 $43,614

Hartford, CT $55,476 $55,685 $72,005 $73,045 $39,299 $58,129 $50,008

Jacksonville, FL $47,038 $47,240 $65,461 $66,854 $31,926 $49,606 $41,753

Nashville, TN $45,900 $46,084 $61,464 $62,609 $32,075 $48,247 $41,063

New York, NY $57,875 $58,106 $78,286 $79,929 $38,849 $60,804 $51,844

Norfolk, VA $48,301 $48,500 $65,909 $67,310 $32,179 $50,827 $43,098

Tampa, FL $47,604 $47,809 $65,164 $66,599 $32,206 $50,210 $42,235

Richmond, VA $49,385 449,585 $67,301 $68,661 $34,216 $51,925 $44,161

Salaries for Select Positions in the Buffalo-Niagara Region

Compared to Other U.S. Metropolitan Areas Source: Buffalo Niagara Enterprise, 2010

Page 16: Central Business District

Metropolitan Statistical

Area

Ranking

San Jose, CA 1

Austin, TX 2

Oklahoma City, OK 3

Buffalo-Niagara, NY 4

Pittsburgh, PA 5

Milwaukee, WI 6

Rochester, NY 7

Raleigh, NC 8

Richmond, VA 9

Hartford, CT 10

Best U.S. Cities and Towns for College Source: American Institute for Economic Research (AIER) College Destination Index 2012-2013

AIER: The characteristics that make up a great college destination also

make a location ideal for a business, retirement and tourism.

Page 17: Central Business District

Metropolitan Statistical Area High School Diploma or

Higher (%)

Buffalo- Niagara, NY (1,124,608) 89.3

Birmingham, AL (1,122,351) 84.8

Fresno, CA (902,763) 72.4

Louisville, KY (1,248,447) 83.7

New Orleans, LA (1,155,981) 83.7

Oklahoma City, OK (1,208,608) 87.1

Raleigh, NC (1,087,368) 88.7

Richmond, VA (1,255,927) 86.5

Rochester, NY (1,033,401) 89.1

Salt Lake City, UT (1,111,496) 89.2

Tulsa, OK (916,909) 87.3

Percentage of the Population 25 Years and Older with a

H.S. Diploma and/or Higher in MSA’s of Comparable Size Source: American Community Survey 1-Year Estimates, 2011

Page 18: Central Business District

County (population) Residing in same

home 1+ years

Rate of home

ownership

Median value of owner-

occupied housing

Niagara, NY (216,011) 89% 70.9% $97,600

Thurston, CA (256,591) 81.7% 67.4% $257,800

Alachua, FL (249,365) 73.4% 54.9% $189,600

Montgomery, AL (232,032) 79.6% 63.2% $121,000

Durham, NC (273,392) 76.3% 55.6% $176,100

Yakima, WA (247,141) 82% 64.1% $149,700

Niagara County homeownership rates have been steadily increasing while other areas

across the U.S. have seen a decline. This is due in part to the low cost of homeownership,

but it also demonstrates that Niagara County's housing market has remained strong in the

midst of the U.S. housing crisis.

Select Housing Characteristics for Niagara County

and Other Counties in U.S. of Comparable Size Source: American Community Survey 5-Year Estimates, 2006-2010

Page 19: Central Business District

MSA’s (population) 2008 2009 2010

Niagara, NY (1,124,608) 60.3 64.5 67.6

Fresno, CA (902,763) 52.6 49.3 52.6

Louisville, KY (1,248,447) 67.7 63.4 61.7

New Orleans, LA (1,155,981) 68.2 66.9 63.9

Richmond, VA (1,255,927) 72.2 68.1 65.2

Honolulu, HI (963,607) 57.6 54.9 54.1

Niagara County housing has been steadily increasing while other areas across the country

have seen a decline in homeownership rates. This is in part due to the low costs of

homeownership.

Rate of Homeownership for the Niagara Region

and Other Metropolitan Statistical Areas in U.S. of Comparable Size Source: American Community Survey 3-Year Estimates, 2007-2009

Page 20: Central Business District

MSA’s Housing

Affordability

Rank

Housing

Price Rank

Akron, OH 1 66

Grand Rapids, WY 2 46

Youngstown, OH 3 55

Toledo, OH 4 25

Cape Coral-Fort Meyers, FL 5 93

Cleveland, OH 6 47

Palm Bay-Melbourne, FL 7 15

Modesto, CA 8 8

Buffalo-Niagara, NY 9 32

Rochester, NY 10 13

Niagara County Region has been ranked 9th in the country according to

Forbes for having the “Best Bang For The Buck Cities”. Cities with higher

rankings than the Niagara Region also have increased homes prices. The

Niagara Region’s affordability coupled with the initial home cost makes one

great place to live!

Housing Affordability and Home Price Rankings Source: Housing affordability Index by Moody's 2nd Quarter rankings of 2009

Page 21: Central Business District

Markets of

Similar Size

Total Industrial

Market Quoted Rates

Total Retail Market

Quoted Rates

Total Office

Market Quoted Rates

Albuquerque, NM $6.72 $13.13 $ 15.15

Buffalo-Niagara,

NY $ 4.10 $ 9.91 $ 14.98

Hartford, CT $ 4.33 $ 12.08 $ 17.90

Hawaii $11.59 $ 33.05 $ 32.07

New Orleans, LA $ 4.88 $ 13.60 $ 16.42

Raleigh/Durham,

NC $ 5.02 $ 13.83 $ 18.63

Salt Lake City, UT $ 4.57 $ 12.78 $ 17.88

Tucson, AZ $ 6.17 $ 14.78 $ 18.57

Cost Per Square Foot for Industrial, Retail, & Office Space Source: Co-Star Year-End 2012

Niagara County has some of the lowest cost available space for all industry types!

Page 22: Central Business District

1

2 16

3 4

5

6 18 7 24

12 19 27

13 21 20

22

23

25

9

15 10

8

11

14

26

17

Downtown Niagara Falls, New York Points of Interest

Page 23: Central Business District

Downtown Niagara Falls, New York Points of Interest

1 American Falls

2 Niagara Falls Culinary Institute

3 The Giacomo Boutique Hotel

4 Seneca Niagara Casino & Hotel

5 Goat Island

6 Niagara USA Official Visitors

Center

7 The Conference & Event Center

8 Aquarium of Niagara

9 Rainbow Bridge

10 Indian Trading Post

11 The Holiday Inn

12 Four Points by Sheraton

13 Comfort Inn “The Pointe”

14 Hampton Inn

15 Howard Johnson Hotel

16 One Niagara/Gateway Mall

17 Red Coach Inn

18 Hotel Niagara

19 T.G.I. Fridays

20 Hard Rock Cafe’

21 Niagara’s Wax Museum of History

22 Niagara Falls State Park

23 Niagara Adventure IMAX Theater

24 Power City Building

25 Niagara Falls Observation Tower

26 NFR Redevelopment Site

27 The Turtle Redevelopment Site