WBFO Business & Economy
The Business and Economy News Desk is funded by The M&T Charitable Foundation.
Our economy has seen transformative improvements in recent years. Yet even with substantial investments that are being made at Canalside, Buffalo Niagara Medical Campus and in other areas, some neighborhoods grapple with blight and poverty. WBFO provides comprehensive coverage of a range of issues that directly impact our listeners.
Our economy has seen transformative improvements in recent years. Yet even with substantial investments that are being made at Canalside, Buffalo Niagara Medical Campus and in other areas, some neighborhoods grapple with blight and poverty. WBFO provides comprehensive coverage of a range of issues that directly impact our listeners.
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City of Buffalo Comptroller Barbara Miller-Williams says several city departments are in violation of the city charter because they do not comply with internal audits. -
Cash secured in the state budget is headed to Upstate cities to get vacant rental units back online, but questions remain over how to keep them affordable. -
The Buffalo Common Council voted 7-2 to override Buffalo Mayor Brown’s veto on the council’s changes to the city’s budget timeline. The deadline for the mayor's proposed budget has moved from May 1 to April 8 each year. -
Buffalonian's share their thoughts ahead of the Common Council's public hearing on the 2024-2025 budget. -
Buffalo Mayor Byron Brown is proposing a 9% property tax increase for the upcoming fiscal year. But some city residents will feel the pinch more than others. -
The condemnation comes days before the hostel was scheduled to move out for renovations, leaving its future uncertain. -
The money going out of city coffers is more than the money coming in according to the city comptroller’s latest cashflow report. -
The city budgeted to take over $3 million in cannabis tax revenue this fiscal year, but has only collected around $66,000 so far. That’s a measly 2% of the budgeted revenue. -
A state law legalizing credit card surcharges went into effect Sunday, allowing business owners to collect a small fee from customers who opt to use a credit card at the register.The new law limits credit card surcharges to the amount businesses are charged by the credit card company. Businesses are required to include the surcharge in the listed price, although they can also list a separate “cash price.” Companies can also choose to charge everyone the “credit card price,” effectively allowing them to collect credit card surcharges from customers who use other payment methods.Credit card surcharges were flat-out prohibited under the prior law, although business owners were permitted to offer discounts to customers who paid in cash.Gov. Kathy Hochul billed the legislation, which she signed in December, as a “transparency” measure that would “clarify” the law surrounding credit card fees.“New Yorkers should never have to deal with hidden credit card costs, and this law will ensure individuals can trust that their purchases will not result in surprise surcharges,” Gov. Hochul said in a statement. “Transparency is crucial in building trust between businesses and communities, and now patrons will be empowered to budget accordingly.”The legislation also lowers penalties for business owners who break the rules. Violations under the previous law were considered criminal misdemeanors punishable by a $500 fine, a year in prison or both. The new law decriminalizes violations, instead imposing a civil penalty of $500 for each illegal charge.The new law doesn’t apply to debit cards. -
The Buffalo Fiscal Stability Authority voted in support of the tentative contract, despite the multimillion dollar budget gap. But the authority recommends the city make a "gap plan" to outline how it will make up the deficit.
