Assemblyman Buchwald Speaks of Revitalizing Westchester’s Economy at Business Council of New York’s Annual Meeting

September 25, 2013

Business leaders from around New York State invited Assemblyman David Buchwald (D-Westchester) to speak at their annual meeting this week, and Buchwald delivered a forceful message on the need to revitalize local economies in order to create good-paying local jobs and foster a more attractive business climate. The forum in Lake George, with over 300 registered participants, was convened by the Business Council of New York State, one of the leading organizations representing large and small businesses statewide, whose membership is comprised of thousands of businesses as well as local chambers of commerce and professional associations.

“Over the past few years, our state has made great strides in terms of economic development, but there’s more work to be done,” said Assemblyman Buchwald at the Business Council of New York’s annual meeting. “I look forward to partnering with businesses and community leaders to build a stronger and more vibrant economy.”

At the meeting, Assemblyman Buchwald pointed to his record of working with the business community to support economic reforms and entrepreneurial innovation across New York State, particularly in the areas of science and technology. He also pointed to his years of experience as an economist and practicing tax attorney. As part of this year’s State budget, he discussed a number of provisions that benefit businesses and families in Westchester and across the state. These provisions include:

• phasing out a utility surcharge and reforming the Unemployment Insurance and Workers’ Compensation systems to help businesses lower costs;
• providing tax credits to businesses that hire military veterans;
• providing tax cuts to manufacturing businesses;
• renewing support for youth employment; and
• extending the lowest income tax rate in 60 years for middle-class families.

Assemblyman Buchwald also discussed the START-UP NY program, which utilizes the potential of New York State’s colleges and universities to encourage business growth by establishing tax-free zones around college campuses. Eligible businesses that locate within the zones can receive exemptions from property, sales and corporate taxes, as well as other fees that can be burdensome and prohibitive. The program also provides incentives to encourage businesses in strategic industries such as manufacturing and clean energy. Once implemented, START-UP NY will attract high-tech and other start-up companies and investments that will create more job opportunities in our communities and allow talented young New Yorkers to remain in state after graduation.

Moreover, Assemblyman Buchwald highlighted New York State’s Regional Economic Development Councils, public-private partnerships that develop long-term plans for economic growth in their respective regions. This innovative, bottom-up approach to development capitalizes on each region’s unique strengths to create and implement a plan that best benefits their local economies. Over the past two years, these councils have provided over $1.5 billion to support businesses and invest in community development plans that will create jobs in New York State.

“Families in Westchester County and throughout our state have been waiting far too long for an improved economy that offers good-paying jobs and promising opportunities,” said Assemblyman Buchwald. “We need to fully and immediately eliminate the utility surcharge, reduce unnecessary regulations and find new ways to help families save money by reducing their tax burden.”

Moving forward, Buchwald said the state should review the tax code and look for any reforms that can help continue alleviating the heavy tax burden placed on businesses. For example, he noted the state has been aggressively pushing our local wine, cider and brewery industries. So, it only makes sense to make sure that the regulations in place match the legislation and rhetoric promoting these industries.

“We’re delighted Assemblyman Buchwald spoke as a voice for Westchester’s economy at the Business Council of New York State’s annual meeting,” said John Ravitz, Executive Vice President of the Business Council of Westchester. “We’ve had a fantastic line of communication with Assemblyman Buchwald on economic issues important to our members throughout the legislative year, and we look forward to sharing our 2014 Legislative Agenda with him to further strengthen the business community in Westchester.”

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