Magnarelli: Small Businesses Play Crucial Role in New York’s Economy
Assembly package of legislation to help New York’s small businesses
March 22, 2004
The Assembly passed a series of bills today to help small businesses grow and create jobs, Assemblyman Bill Magnarelli (D-Syracuse) said. The legislation comes on the heels of the Assembly’s NY@Work job-creation plan, which was released earlier this month. "These bills are part of my effort to boost New York’s economy," Magnarelli said. "As chairman of the Legislative Task Force on University-Industry Cooperation, I’ve been working to stimulate job growth by linking New York’s fine universities with local businesses. Since small businesses create about 80 percent of new jobs in New York, helping them is a sure way to revitalize our economy." Helping small businesses get access to needed capital "One of the biggest impediments to small business expansion is lack of access to capital," said Magnarelli. "The Assembly’s legislation helps them get that capital – and cover other major expenses that might otherwise drive them out of state." Magnarelli sponsored bills that would:
- Require the Department of Economic Development to give small businesses and entrepreneurs priority consideration in the awarding of economic development assistance (A.3913);
- Help businesses obtain loans for the purchase of pollution control equipment, so they can clean up the environment and comply with state and federal environmental rules (A.1382-A); and
- Authorize the installment payment of fees and civil penalties over $300 owed to the state by local governments and small businesses (A.345).