New York’s deal with Micron Technology is touted as an investment that will generate nearly 50,000 total jobs and a total of $25.6 billion in revenue to state and local government. But these forecasts rely heavily on speculative assumptions.
Beaconomics
Rochester’s renewed fuel cell focus
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Hyzon Motors, established here in 2020, plans to create 100 jobs at the former GM facility in Honeoye Falls. The news follows Plug Power’s decision to create an innovation center in Rochester.
Beaconomics
If Biden wins, what will be the impact in Rochester?
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Congress and a Biden White House are more likely to come to agreement on an injection of cash for state and local governments, plus industrial and anti-poverty programs.
Beaconomics
COVID economics
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Can Rochester take advantage of the “reshoring” imperative thrust upon us by COVID-19? Is our higher-ed sector prepared for a shakeout?
Beaconomics
Stop the bleeding: The CARES Act
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The $2.2 trillion CARES Act applies a necessary tourniquet to stabilize the economy during the coronavirus pandemic.
Beaconomics
Where COVID-19 case and mortality rates are highest
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By both yardsticks, Westchester County has suffered the most severe outbreak. The rates are much lower here.
Economy & Business
An enduring legacy
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Kodak’s employment has plunged from its 1982 peak of 60,400 to about 1,300. Yet that employment number vastly understates Kodak’s contribution to the local economy today.
Beaconomics
The impact of persistently low rates of return
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The result of falling real interest rates has been increased risking taking by public pension fund investment managers and others.
Beaconomics
What? Low inflation is a problem?
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No one wants a return to double-digit inflation. But low inflation can slip into deflation, which increases the risk of a downturn.
Beaconomics
Economists’ inflation conundrum
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Economic changes such as the growth of free services make our “tape measure” of price movements—traditional inflation statistics—unreliable.
Beaconomics
Rochester’s languishing economy
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Over nearly two decades, the nation’s large metros as a group have outpaced Rochester’s job creation. And they still do.