This paper examines the recent business performance and technical characteristics of high-versus low-technology manufacturing establishments in western New York. Data from a survey of local industrial firms across a variety of sectors are presented. The results indicate that high-technology establishments exhibit more geographically diversified export markets and stronger innovation performance than their low-technology counterparts. In terms of recent employment performance, sales growth and technical service utilization, however, the two groups are found to be broadly similar. If anything, in fact, the results suggest a modest performance edge for low-technology firms. The survey results are discussed in the context of local policy options for future industrial development. A word of caution is offered to economic policy agencies that see high-technology manufacturing as the most suitable option for local industrial renewal.