Assembly Passes Bill Package to Bolster New York Small Businesses
March 9, 2009
Assemblywoman Addie J. Russell (D-Theresa) announced the Assembly passed a package of bills designed to help small businesses thrive in New York State while making it easier for women to own businesses. “Small businesses are the backbone of the state’s economy – they are at the heart of innovation and new technology, and they play a vital role in keeping our state running. In these tough economic times we must be taking every approach to create jobs,” Addie said. “The success of small businesses is absolutely vital to the success and vibrancy of the North Country economy.” According to federal census data, small businesses are the source of up to 80 percent of all new jobs in the U.S. Specifically, the Assembly’s legislation:
- makes it easier for small businesses to receive loans through the Small Business Regional Revolving Loan Program (A.3384);
- establishes a competitive grant program for small businesses to seek new markets and niche products and work with small manufacturers to identify and develop these markets and products (A.4550);
- provides zero- or low-interest loans for energy efficiency projects, further allowing small businesses to grow and create new jobs (A.3945); and
- provides start-up and expansion funding for not-for-profit sponsors of small-scale food-processing facilities to foster entrepreneurship, job development and community revitalization, while also improving local farm sustainability by providing an outlet for farmers to sell their products (A.4166).
- establishes entrepreneurship assistance centers, primarily for women, individuals with disabilities and dislocated workers (A.4459); and
- improves outreach efforts of the Department of Economic Development’s divisions for Small Business and Women’s Business Development (A.4097).