Economy in Buffalo
Detailed economy data — sourced from authoritative datasets and normalized for direct comparison.
Economy in Buffalo, Wyoming
Buffalo's economy has undergone significant restructuring, shifting from a manufacturing-heavy base to a more diversified service-oriented market. In 2024, the largest industries in Buffalo were Health Care & Social Assistance, Educational Services, and Retail Trade. [3] The highest-paying industries included Utilities, Management of Companies & Enterprises, and Public Administration. [3] The Buffalo-Niagara Falls metropolitan area's gross domestic product (GDP) was approximately $90.7 billion in 2023, equivalent to about $109.5 billion in 2024. [11]
The local labor market in Western New York has seen modest changes, with private sector jobs declining slightly by 0.0% in August 2026. [22] While some sectors like manufacturing, financial activities, and trade, transportation, and utilities experienced job losses, private education and health services, leisure and hospitality, and other services saw gains. [22] The city is actively working to attract new opportunities in technology, entrepreneurialism, advanced manufacturing, and clean energy. [24, 27] Organizations like LaunchNY and 43North are fostering a growing startup ecosystem, and Buffalo's proximity to major tech hubs like Toronto and New York City provides access to a broader talent pool. [27]
Economy & Jobs
Top Industries
About Buffalo, Wyoming
Buffalo, New York, often called the "Queen City" or "City of Good Neighbors," is a historic city located in Western New York on the eastern shore of Lake Erie, at the head of the Niagara River. Founded in 1801 and incorporated in 1832, Buffalo's early growth was significantly spurred by its selection as the terminus of the Erie Canal, making it a crucial inland port between the Great Lakes and the Atlantic Ocean. The city later became a major railway hub and a center for steel production. While deindustrialization led to an economic decline, Buffalo has since diversified its economy, focusing on service industries such as healthcare, retail, tourism, logistics, and education, while still maintaining some manufacturing. [11]
Buffalo is the second-most populous city in New York State, with a population of 274,006 in 2026. [10] The broader Buffalo-Niagara Falls metropolitan area is home to over 1.16 million residents, making it the 51st-largest metropolitan area in the United States. [11] The city is known for its rich architectural heritage, including the oldest urban parks system in the U.S., and cultural institutions like the Buffalo AKG Art Museum and the Buffalo Philharmonic Orchestra. [11] People are drawn to Buffalo for its affordability, community spirit, and ongoing revitalization efforts, particularly in areas like Larkinville and the downtown core. [11, 24]
About Wyoming
Wyoming, known as "The Equality State," is characterized by its vast, open landscapes, including the Rocky Mountains and high-elevation prairies, fostering a lifestyle deeply connected to nature and a strong sense of community. The state's economy is primarily driven by mineral extraction, particularly coal, natural gas, oil, and trona, alongside a significant tourism industry centered around national parks like Yellowstone and Grand Teton, and agriculture, mainly livestock and hay. Living in Wyoming generally offers a lower cost of living compared to the national average, with no state income tax. The climate is typically semi-arid and continental, featuring dry, windy conditions with significant temperature extremes, long winters, and short growing seasons, while the lifestyle embraces a slower pace, self-reliance, and abundant outdoor recreational opportunities.
