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Issues and events that shape Long Island's economic and legislative landscape.

Wednesday, July 23, 2014

START UP NY Report - Cutting taxes, creating jobs & growing the economy

Since day one, Governor Cuomo has deployed an aggressive economic development strategy that has redefined the relationship among government, academia and the private sector, leading to new partnerships and regional collaboration that is attracting investment, growing businesses and creating new jobs for New Yorkers. For three straight years, we have held the line on spending and cut taxes, making great strides in improving the business climate and reversing New York''s reputation as a high-tax, anti-business state. 

The 2013 legislative session is the latest chapter in the new New York, and the most productive session yet to find ways to promote business and job growth in the Empire State. It may, in fact, mark a turning point that rallies the state's economy to new heights and puts us on a path to prosperity that will be felt for generations.

Accomplishments during the 2013 session include:

  • The Third Straight Balanced, On-time Budget, closing a $1.3 billion gap with no new taxes or fees
  • Tax Relief for Middle-Class Families for the second straight year
  • Tax Cuts for Businesses, including an income tax cut for small business and manufacturing rate cuts
  • START-UP NY, which will spur entrepreneurialism and job creation by transforming public higher education through tax-free communities across the state
  • NYS Business Incubator & Innovation Hot Spots will foster innovation and facilitate the transition from ideas and research to marketable products
  • Round III of Regional Economic Development Council Awards will enable regions to continue investing in their own future, rather than through the old Albany, top-down approach
  • NY Works Task Force Infrastructure Investments will leverage regional assets, maximize existing resources and focus on long-term job growth and economic opportunities
  • Cutting Red Tape for Businesses, including reforms to unemployment insurance and workers' compensation, and streamlined regulations for farmers and brewers 
  • A Historic Commitment to Tourism with the largest investment in decades -- nearly $60 million -- to grow this vital jobproducing industry
  • The Upstate NY Gaming Economic Development Act will establish four destination gaming resorts in upstate New York and boost tourism and economic development in the regions
  • Helping Businesses Rebuild and Reopen After Superstorm Sandy with an Emergency Small Business Loan Program that quickly moved funds out the door to businesses working to rebuild and reopen

CLICK HERE to download the complete START UP NY Report