Senator Bill Larkin (R-C, Cornwall-on-Hudson) and members of the Senate Majority Conference today unveiled the Upstate Now agenda, a comprehensive job creation and economic growth plan that will transform and revitalize the upstate economy, generate billions of dollars in new investment, and create thousands of new jobs for New Yorkers.
The 10-point plan would invest a total of more than $3.7 billion into economic development initiatives over the next three years, including new tax relief and incentives, new and existing capital investments and private sector matching funds. More than $2 billion would be invested in the first year of the program.
The Senate's comprehensive plan will: reduce taxes, energy and health care costs for employers; provide upstate with a 21st century economic infrastructure; strengthen small businesses, manufacturing, agriculture, tourism and other key industries throughout the state; make upstate an international leader in new and emerging technologies; revitalize downtowns and local communities throughout the region; support clean, renewable energy initiatives; strengthen our workforce; and enact sweeping reforms to make the upstate region more business-friendly and economically competitive.
"For Upstate New York, it’s as much about business retention and expansion as it is about business attraction," said Senator William Larkin (R-C, Cornwall-On-Hudson). "We are working hard on creating incentives to keep businesses here and also welcome new investment and jobs to the upstate region. This plan specifically targets workforce skills, the regulatory environment and technology opportunities that will directly assist our long-term goals of strengthening the economy and encouraging job growth. It is a vital investment in the quality of life in upstate New York."
The Senate’s Upstate Now plan includes more than $2.6 billion in tax cuts and incentives, when fully implemented in three years; as well as $300 million in existing venture capital funds that will generate an additional $300 million in private sector matching funds; $300 million in capital monies originally proposed in the ExecutiveBudget, but not included in the adopted budget; $155 million in new capital investment funds; and $58 million in new economic development program investments.
From tax cuts, to the JOBS NOW and Pipeline for Jobs initiatives, to the Jobs 2000 Plan (J2K), Gen*NY*sis, and Centers of Excellence programs, the Senate Majority has always been the principal driving force in Albany behind efforts to promote economic growth and job creation for New Yorkers. The Upstate Now strategic plan will build on this legacy with a broad, comprehensive and integrated 10 point plan:
1. Reducing Taxes for Small Businesses, Manufacturers and Key Industries.
2. Building and Investing in a 21st Century Infrastructure for the Upstate Economy.
3. Making Upstate an International Powerhouse in New and Emerging Technologies.
4. Reducing Energy Costs for Employers and Promote Energy Independence.
5. Reducing Health Care Costs for Small Businesses to Insure More Families.
6. Creating Thriving Main Streets.
7. Winning the Global Competition for Manufacturing Plants.
8. Preparing the Finest Workforce in the Nation.
9. Providing Around the Clock Access to the State's Economic Development Programs.
10. Marketing Upstate's Outstanding Recreational, Cultural and Tourism Opportunities.
To read more about the specific components of the Senate’s Upstate Now Economic Development Plan, contact Senator Larkin at Room 612-LOB, Albany, NY 12247; (518) 455-2770.