3/11/2015 - Peru Named Most Affordable Small Town in NY
PERU MOST AFFORDABLE SMALL TOWN IN NEW YORK STATE –
Peru has been identified as the most affordable small town in New York State by Business Insider Magazine. The magazine has released a list which identifies the most affordable small town in each of the fifty states, focusing on communities between 1,000 and 10,000 residents whose households spend no more than 30% of their annual income on housing costs.
The magazine found that 89.7% of homes in the Town of Peru are affordable, while also referencing Peru's "pleasant, tourist-drawing apple orchards and dairy farms."
"Affordability of housing in particular and the cost of living in general are definite factors in decisions by companies considering locations," states Garry Douglas, President of the North Country Chamber of Commerce, "especially when they anticipate needing to transfer some key people or recruit professionals and technicians from outside the area. And it's also a key factor for our hospitals, schools and others when seeking to recruit doctors, teachers and other talent to the area. We and our partners are always pointing to the affordability of our area, but having one of our communities highlighted nationally in this way definitely reinforces our case."
Douglas notes that housing affordability in Peru is mirrored in the greater Plattsburgh area in comparison with other regions, including the neighboring areas of Vermont which Canadian companies in particular are often comparing with the North Country.
"The Development Corporation provided us with an analysis last year by the Council for Community and Economic Research which shows, for example, that the cost of living in Burlington is 21.3% higher compared to Plattsburgh," states Douglas. "And housing costs in Burlington are an astounding 65.7% higher than here. You would actually need to earn $60,650 in Burlington compared to $50,000 in Plattsburgh to maintain the same standard of living. These kind of comparisons, now reinforced by the highlighting of Peru by Business Insider, are an important part of our ability to compete successfully with Vermont for Canadian job creating investment."
"The affordability of housing in the greater Plattsburgh region combined with an above average K-12 school system adds to the compelling list of reasons a business would locate here," states Paul Grasso, President of the Development Corporation. "Affordable housing and good schools, combined with a region's favorable business climate, create an attractive landscape for employees and businesses alike."
The Business Insider ranking of Peru follows the recent ranking of Plattsburgh among the top 10 micropolitan areas in the country for economic development success last year, and the standing ranking of Plattsburgh as the #4 micropolitan "city of the future" in North and South America by fDi (Foreign Direct Investment) Magazine.