Despite Challenges, Businesses Can Succeed In New York State

We hear a lot of doom and gloom about doing business in New York state.

There’s a good reason for that doom and gloom. For all of Gov. Andrew Cuomo’s talk about lowering corporate tax rates, the state keeps coming up with new regulations and requirements that either cost companies money or keep people so tied up in paperwork and trying to stay in compliance with what the state wants that they struggle to do the jobs they were hired to do in the first place.

We are glad to see, however, that two of our area’s larger employers are having good years financially. Cummins Inc. recently reported to stockholders that the company’s $5.9 billion in revenues had increased 12 percent compared to the third quarter of 2017 with growth in all of its operating segments and most of its geographic markets. That’s good news for Cummins Inc. Jamestown Engine Plant employees.

Bush Industries, meanwhile, reported its most successful quarter of sales in almost 10 years, with 2018 third quarter financial statements showing a 40 percent sales increase overall and a 50 percent increase comparing sales through September 2017 with sales through September 2018. Mike Evans, Bush Industries president, told The Post-Journal that 25 new employees have been hired since early summer with the company looking to add roughly 10 more employees in production positions. The strong financial quarter comes after Bush Industries was acquired by Buffalo-based private equity firm Lorraine Capital earlier this year, Bush Industries has continued to deliver more furniture products and exceed expectations in online sales, in part due to an emphasis on digital marketing and an expanding marketplace.

New York state doesn’t always make it easy for companies to succeed in New York state, and Cummins certainly benefits from its global footprint, but it’s good for the local economy that two of our biggest employers are doing so well.