Business

Gutierrez: Cuomo’s ‘Capital for a Day’ initiatives will have lasting impact in Central New York

Cities along the I-90 corridor have suffered in recent decades due to the declining industrial sector, but Gov. Andrew Cuomo has an idea that could leave a positive, lasting change in the area.

Cuomo announced in Syracuse last week a $77.8 million plan as a part of his “Capital for a Day” campaign, which aims at improving the upstate New York economy. The plan includes efforts to create sustainable jobs, enhance local infrastructure and higher education, and alleviate homelessness.

Some argue Cuomo should have initiated a less-comprehensive campaign like he did in Utica, where he implemented “a single, economic game-changer” strategy. Others say Syracuse’s struggling public schools and poor water systems were “barely addressed at all.”

But those who doubt Cuomo’s efforts should remain optimistic. The $77.8 million will spur much-needed economic growth as the bulk of the funding will be invested in the region’s higher education system ($30 million), infrastructure, particularly the I-81 project ($13 million) and homelessness alleviation ($16 million).

Let’s start with the latter. Syracuse has the highest rate of extreme poverty among blacks and Hispanics in the United States, according to a study of the nation’s largest metropolitan areas. One in two Syracuse children are now living in poverty. However, $7.9 million is going straight to the Rescue Mission Alliance of Syracuse, which works to combat homelessness in the community.



While it is unlikely that Syracuse will see immediate results, it’s nonetheless a big step in addressing homelessness in the city, especially near the west side.

The higher education investments will not affect SU, as it is a private university, nor will the enhancement of local infrastructure. SU will, however, benefit from ongoing improvements to the New York State Fairground.

The $64 million project, which was announced in January, will transform the fairgrounds into a facility that is profitable year-round. This means that not only will SU students have another weekend attraction, but tourism, consumer spending and area businesses will benefit from increased traffic.

Cuomo said in a press conference last week, “We want to make (upstate New York) economically viable. We want to have sustainable economies; we want jobs coming back to New York ­— we don’t want jobs leaving New York. We want young people staying, we want young people coming.”

Cuomo added that with these investments comes the multiplier effect, where an increase in spending means an increase in local income greater than the initial amount spent. In this case, the investments could possibly aid the surrounding areas of SU and, indirectly, stimulate business and employment on Marshall Street.

Over the past four and a half years, the state has coupled with private sector investors in a $350 million Inner Harbor project, effectively transforming a barren wasteland into an attractive and revenue generating part of town. The project includes a 134-room Aloft Hotel, apartment buildings, restaurants and retailers. When coupled with Cuomo’s announcements, it is clear that the city of Syracuse is only improving.

Cuomo’s “Capital for a Day” campaign is a leap in the right direction. His initiative will make Syracuse, and SU, a more desirable place to be. And who would be against that?

Matthew Gutierrez is a freshman journalism and entrepreneurial management dual major. His column appears weekly. He can be reached at mguti100@syr.edu and followed on Twitter @MatthewGut21.





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