Unregistered
June 24th, 2003, 10:03 AM
I own a small business in an Empire Zone. We take advantage of the sales tax provision and save a moderate amount of money, but certainly not enough to make Buffalo a desirable place in which to do business. Because I own the property, I am unable to save any property taxes. We have increased employment by four people since we qualified in the zone.
Being part of the Empire Zone had nothing to do with my decision to keep my business in Buffalo. Taking advantage of any savings is simply a part of responsible business management. My business remains here because Buffalo is my home and it is the best place to live in the United States, bar none. But because of gross mismanagement at the city and state government levels, Buffalo is the worst place to run a business in the United States.
The idea that job creation should be the focus of business management or government programs is at the root of our inability to sustain a vibrant economy. The primary reason for a business to exist is to earn a profit. Absent profit, the business will cease to exist. Profitable businesses are able to create new jobs, unprofitable businesses are not.
In a recent News article, Bob Rich made the point that government grants are not a substitute for the ability to run a profitable business. He politely remarked that taxation, state-mandated labor costs and high energy costs hamper the ability to competitively grow in Buffalo. In other words, there are better places to grow a business than Buffalo, and those places have lower taxes, reasonable state-mandated labor costs and lower energy costs.
The cure for our weak economy is simple. The government and special-interest groups must understand that profitable businesses are the source of prosperity, and that the policy of government is to provide an environment where businesses can be profitable. Only when that happens will most of the problems here, as well as the need for Empire Zones, disappear.
PETER W. MCGENNIS SR.
President, Elwood Companies
Buffalo
www.buffalo.com
Being part of the Empire Zone had nothing to do with my decision to keep my business in Buffalo. Taking advantage of any savings is simply a part of responsible business management. My business remains here because Buffalo is my home and it is the best place to live in the United States, bar none. But because of gross mismanagement at the city and state government levels, Buffalo is the worst place to run a business in the United States.
The idea that job creation should be the focus of business management or government programs is at the root of our inability to sustain a vibrant economy. The primary reason for a business to exist is to earn a profit. Absent profit, the business will cease to exist. Profitable businesses are able to create new jobs, unprofitable businesses are not.
In a recent News article, Bob Rich made the point that government grants are not a substitute for the ability to run a profitable business. He politely remarked that taxation, state-mandated labor costs and high energy costs hamper the ability to competitively grow in Buffalo. In other words, there are better places to grow a business than Buffalo, and those places have lower taxes, reasonable state-mandated labor costs and lower energy costs.
The cure for our weak economy is simple. The government and special-interest groups must understand that profitable businesses are the source of prosperity, and that the policy of government is to provide an environment where businesses can be profitable. Only when that happens will most of the problems here, as well as the need for Empire Zones, disappear.
PETER W. MCGENNIS SR.
President, Elwood Companies
Buffalo
www.buffalo.com