History of Buffalo - Research Paper Example

It led to the decline in the Buffalo commercial industry, and by 1990, the town resembled the 1900 regarding population. Today, the main economic sectors concentrate on health care and education (Laura, 81). They are on an upward trend even with the slump in the country’s economy. The retail industry is strong because of the low costs and taxes, which has attracted Canadian shoppers. In 2011, Buffalo’s unemployment rate was at 7.3%, and Forbes magazine rated Buffalo as the 10th best location to raise a family in America.

The Rise and fall of the Buffalo Economy The rise of the Buffalo manufacturing industry started from the inception of the Erie Canal, which was established in 1825. The canal provided an avenue for merchants and traders to venture into the region and establish a trading hub, which fostered the growth of the manufacturing industry. The latter was aided by the use of hydropower to supply the city with a large volume of energy, which was sufficient to sustain the region and develop the steel industry.

At the turn of the 20th century, the Niagara River was utilized as a source of hydroelectric power, which benefited the local mills. The strategy became significant in the region, with Buffalo earning the title ‘City of Light’, because of widespread electricity. . They reopened their plant in 1940, in order to manufacture ammunition for the US army for the war period. The steel industry had grown because of the supply of resources through trading from the Erie Canal. The manufacturing industry centered on the use of steel and other metal in the development of products in the region, which served to increase the popularity of the town.

The availability of steel in Buffalo meant that the region was an industry haven, and there was diversity in relation to product development based on metal use (Laura, 83). Steel is the main source of revenue for the region, after the development or use of the Niagara Falls as a source of power (electricity). Car industries would to Buffalo as the ideal location to set up manufacturing plants, because of their trading routes, which provided trading of various items and resources to push or sustain the manufacturing sector.

The economy took a dive in the mid 1900s because of the opening of St. Lawrence Seaway. It diverted many trade routes from Buffalo, which limited the level of trade in the region causing deindustrialization in Buffalo. The trading provided the platform for suburb development, but the diversion of the trade led to the deterioration of the development. By 1950, the Buffalo population had peaked to over half a million individuals. Buffalo had become the 15th largest city in the country (United States), but the new seaway saw the population drop by 50%, as industries began to shutdown.

It was the demise of the Buffalo economy. (Bisco, 34) Even with the development of the railroad system, the availability of steel became a problem for the region, which