NYS Seal Contact: Charles Carrier
(518) 455-3888
For Immediate Release:
November 7, 2001
Silver Secures Emergency Funds for Small Businesses

Assembly Speaker Sheldon Silver today distributed emergency grant applications to local businesses effected by the September 11 terrorist attacks on the World Trade Center. The grants, secured by Silver during the waning hours of the state legislative session, are aimed at assisting downtown businesses facing financial hardship in the wake of last month's disaster.

During visits to the Little Italy pastry shop Ferrara and nearby Kamwo Herb and Tea, Silver distributed funding applications for the program providing emergency grants for a wide range of businesses located below Houston Street. The $20 million program will be administered by the Empire State Development Corporation.

"Small businesses play a vital role in our community - providing employment and services that greatly contribute to the city's economy," said Silver. "Unfortunately, many of these diverse businesses are facing tremendous difficulties following the attacks. It is my hope these grants will help to rebuild and fortify the businesses that have come to symbolize this vibrant neighborhood."

Silver, who represents lower Manhattan, including the World Trade Center area, also expressed his commitment to continue to press for additional assistance for small businesses as plans are made to rebuild and revitalize the city economy. Included in this effort is a comprehensive, multi-year plan outlined by Silver last week that would provide benefits to residents and significant tax incentives to businesses located in the effected area.

Silver has also taken a leading role in efforts to secure necessary federal funds to aid in the city's economic recovery.


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