Buffalo Billion
Buffalo Billion is a New York state government project led by former Governor Andrew Cuomo that aims to invest $1 billion in the Buffalo, New York area economy. The project uses a combination of state grants and tax breaks to spur economic development. Governor Cuomo first announced the program in his 2012 "State of the State" address. The program is modeled on a similar program implemented in the Albany, New York area. A key project in the program is a $750 million SolarCity solar panel factory.
Buffalo is a city known for snow. It is not the first place one would think to build a solar panel factory. But the city will soon be the home of the largest such manufacturing facility in the Western Hemisphere, according to SolarCity, the San Mateo, Calif.–based company that is set to begin moving into the complex later this year.
Engineering News-Record,
July 16, 2015
An example of projects developing under Buffalo Billion include:
- Solar panel factories
- A solar panel array at a former Bethlehem Steel plant in Lackawanna built by BQ Energy, a renewable energy development company
Some components of the project came to fruition before Cuomo's term ended in 2021. Some parts are still pending, and with some aspects of the project, corruption allegations have emerged.
On May 15, 2023, the project filed for Chapter 11 bankruptcy, hours after Athenex, which was also part of the project, filed for bankruptcy as well.