Last year, Senate Republicans approved new tax credits to encourage employers across the State to provide job opportunities to New York’s courageous veterans.
To build upon this initiative, the Senate has just approved the “Service-Disabled Veteran-Owned Business Act” to help New York’s Service Disabled Veterans pursue successful new business ventures. A three-way agreement on the bill was announced during the Governor’s Veterans and Military Families Summit held last week in Albany.
Modeled after a highly successful federal initiative, New York’s new law will establish a new contract preference “set-aside” for service disabled veterans.
According to the United States Department of Veterans Affairs, New York State is home to nearly 900,000 veterans, 600,000 of whom have served during periods of conflict. According to Governor Andrew Cuomo, there are roughly 106,000 service-connected disabled veterans in New York State.
These heroic individuals have sacrificed so much to serve our nation, and we owe them a debt of gratitude that can never truly be repaid.
This important new law will provide an enormous boost to our service disabled veterans, opening the door to major new business opportunities. It will also help send a loud and clear message that when New York’s servicemen and women return home, they will be welcomed with the promise of economic opportunity.