New York’s economy has taken center stage in policy discussions. While some of us disagree over how we can build our economy and create and retain good-paying jobs, one can’t deny the growing excitement and energy present, especially after the $4.4 billion investment in our state for nanotechnology research and development. If harnessed properly, it can propel New York in a whole new prosperous trajectory. We have a prime opportunity to seize back our rightful place as the Empire State – the land of economic enterprise and a hub of trade.
New York has always had the tools for prosperity and has an unparalleled enterprising spirit. We are lauded for our well-educated workforce and highly-skilled labor, drive for innovation in technology and the sciences and the ease in accessing capital, most recently noted by CNBC’s annual analysis of the business climates of each state. In New York, we have exactly what we need to succeed, and yet we’ve been stagnated by layers of government red tape, increased taxes, fines, fees and assessments, and regulations as other organizations like the American Legislative Exchange Council has highlighted and noted as the main reason our state ranks dead last regarding economic outlook.
I can see that attitudes are beginning to change regarding business, and we must capitalize on this to finally pass policies that are truly business friendly. Let’s scale back the overly intrusive and obstructive rules and expenses that hold our business growth back in New York.
If we are going to call upon our small businesses and manufacturers to open their doors and expand their businesses, we need to truly trust that they know what is best in order to grow. With the growing emphasis on regional and grassroots-driven economic growth, our policies must follow suit and allow the freedom and space for these small companies to thrive.