Economic development is a priority for the New York State Senate. From taking the lead on Empire Zone reforms to recent passage of tax credits aimed at revitalizing our communities, the Senate is committed to supporting a vibrant New York economy.
Another piece of this important puzzle was laid into place yesterday with the passage of bill S3594, a bill that will empower our state's entrepreneurs and promote development of small businesses in food processing. The legislation does this by allowing these businesses to apply for funding from the Empire State Economic Development Fund.
To further amplify its impact, the bill emphasizes businesses in distressed communities. Small businesses are also an important employer of minority and immigrant populations, as well as women.
Senator Liz Krueger sponsored the legislation:
Helping New Yorkers, particularly those in struggling communities, establish an up-and-coming small businesses right now is smart economics. The investment is minimal compared to the benefits that will come as a result of this program. Yes, this will create jobs but even better, budding entrepreneurs will receive the support they need to put their talents to use in a way that helps us get our economy back on track.
This legislation will also allow more local produce to be processed and sold right here in New York. It is a win-win for small business and our farmers. Moreover, the people of New York will enjoy a wider selection of locally-sourced foodstuffs and reap the accompanying environmental benefits.
View the full press release here.