From inception it has been the goal of the Buffalo and Erie County Regional Development Corporation (RDC) to assist in the expansion and retention of firms in Erie County. The objective of increasing private investment in target firms with positive employment impact has been effectively achieved as demonstrated in the 2001 job survey.

In 1993 and 2001, the U. S. Economic Development Agency approved loan administration plan changes which empowered RDC to adapt to regional economic trends and issues through creation of strategic loan funds and the creation of near-equity lending. Within the framework of the plan, the RDC will continue to assist a diverse range of transactions: growth industries, those targeted for attraction into the local economy, industries representing significant local economic segments, start-ups and buyouts of local companies when jobs can be preserved. Smaller, younger and/or disadvantaged companies within target sectors are given high priority. Evolving conditions require emphasis on training, efficiency improvement, facilitating of exporting, and provision of seed and start-up capital. The coordination of financial, educational, technical, marketing and other types of assistance to minority business enterprises are a high priority.

It has become increasingly evident that due to changes in the structure of industry in Erie County, particularly the ever-apparent weaknesses of resident-owned firms that substantial efforts must be made to both understand the nature of their weaknesses, and attempt new solutions. It seems especially crucial that efforts must be made to assist the modernization of area firms by actively working in partnership with Buffalo Niagara Enterprises, Western New York Technology Development Corporation, the ECIDA Industrial Growth Complex, the Buffalo and Erie County Advanced Training Center, the University of Buffalo, Erie Community College and other area educational institutions. New programs and relationships should be developed which harness the resources of the RDC to improve resident firm competitiveness. In particular, the RDC should transform its structure and loan offerings to create investment vehicles appropriate to returning non-resident firms to local ownership, and nurturing the formation of early stage companies, especially technology-based firms through near equity capital loans.

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