This project is the result of the first-ever pairing of these two widely-respected consulting groups. It brings together the premiere approach to planning for technology development with cutting-edge thinking on the importance of talent, tolerance and creativity to economic and community growth. The marriage of these two perspectives represents a unique undertaking in economic development and strategic planning.

Central Upstate New York has faced a number of challenges in its efforts to position itself for economic and community growth. Yet while these challenges have limited the region’s growth in the past, they need not serve as barriers to future progress.

With every challenge comes opportunity. By adopting growth strategies to counteract each shortcoming and build upon each strength, the Central Upstate New York region can be highly competitive in the knowledge-based economy of the future.

The Essential New York Initiative lays out the following six strategies as a framework for achieving that success:

Strategy #1: Aggressively Targeting Middle-Market Companies With High Potential For Expansion and Supporting Existing Industries

CHALLENGE: Emerging companies need more support to grow.

OPPORTUNITY: Spur immediate job growth by capitalizing on the region’s 2,200 existing small technology companies with high potential for expansion.

Strategy #2: Optimizing Key Industry Clusters

CHALLENGE: Without an organized effort and sufficient resources, the region will fail to capitalize on the high potential of its industrial and occupational clusters.

OPPORTUNITY: Expansion of the region’s key clusters will create jobs and sustainable long-term growth.

Strategy #3: Creating, Retaining, and Attracting Talent in Central Upstate New York

CHALLENGE: The region is losing too many of its young people which comprise much of its future workforce.

OPPORTUNITY: The region can capitalize on its strong base of creative talent to fuel future economic growth.

Strategy #4: Leveraging Colleges and Universities as Economic and

Community Growth Engines

CHALLENGE: The region has not maximized the potential of its colleges and universities to be key economic drivers.

OPPORTUNITY: The region’s colleges and universities can lead the successful transition to a knowledge-based economy.

Strategy #5: Encouraging the Creation and Growth of a Stronger Entrepreneurial Culture

CHALLENGE: Central Upstate New York lacks a strong entrepreneurial culture. The region does not have a recent history of entrepreneurship, lacks a critical mass of start-up companies, and lacks opportunities for networking among entrepreneurs.

OPPORTUNITY: Recent initiatives are beginning to build a network to support the growth of new companies.

Strategy #6: Developing a Broader Regional Consciousness

CHALLENGE: Individual communities within the region lack both the scale and resources to be competitive on a national and international level.

OPPORTUNITY: An expanded region will compete more effectively for jobs and growth.

For this ambitious plan to succeed, it is recognized that there will need to be a broad level of cooperation among the many businesses, not-for-profits, economic development agencies, chambers of commerce, public officials and private individuals who comprise the leadership of this 12-county region.

Participation by all stakeholders throughout the region is welcomed and encouraged. Working Together, we can reshape the Central Upstate regional economy.

Full Report:  The Essential New York Initiative