Having served in various capacities over the years - community volunteer, business leader, full-time mom and, now, public servant with the New York State Assembly - I understand the challenges facing our community and I know that tackling these regional issues requires working across party lines.
For Erie and Niagara Counties, attracting economic development projects is our biggest challenge. I am working hard to make sure we reform our Empire Zone program and ensure that our local Industrial Development Agency has the resources it needs to create jobs and retain businesses. However, we cannot strengthen our upstate economy until we reform state government and put an end to Albany's failed economic policies of the past.
Out-of-control spending, high taxes and excessive regulations have formed the perfect storm of New York's unfriendly business climate.
In recent years, government agencies and programs have expanded significantly causing our budgets to swell even as revenues tightened. As a result of this reckless spending, New York faces a projected $13 billion budget deficit for 2009-2010. For too long, state leaders lacked the courage to slow the growth of government spending. They avoided sensible fiscal decisions, which could have offended their special-interest constituencies and, instead, created a culture of back-door borrowing and unsustainable debt. These policies disproportionately harm future generations and force our best and brightest young minds to flee New York.
The state also faces the highest combined residential and commercial costs in the nation. Business taxes are second-highest nationally. This makes the attraction and retention of businesses a near insurmountable task. Heavily-taxed regions and industries are highly susceptible to economic fluctuations as our region has experienced. Some manufacturing companies are closing their doors, while others seek out more business-friendly states. It's clear that it's time for reform when it's more convenient for a company to relocate rather than function within New York's burdensome tax climate.
The current tax crisis is a direct consequence of irresponsible taxing, spending and borrowing by our state leaders. Businesses and families in Lockport and Clarence have been forced to tighten their wallets and it's time state government does the same.
Excessive legislative mandates and commercial regulations have also impeded economic growth. Unfunded state mandates in education and health care shifted skyrocketing costs onto local communities and property owners that can ill-afford them. Working middle-class families have been increasingly squeezed. The state's oppressive energy regulations have been piled onto our already-reeling manufacturing industry.
Fortunately, economic revitalization is not beyond our reach. Just as we once stood at the forefront of the country's transportation and industrial sectors, we can again serve as a national model of an innovative economy. Our regional strengths - location, academic institutions, manufacturing base and energy industry - can merge with national needs to maximize Western New York's economy. We are situated at the crossroads of the world's largest trading partners. With five U.S.-Canada bridges, Western New York is a substantial transit hub of the 100 million border crossings each year. Our academic institutions are leading innovators in technology. Their future to our region - in high-tech job preparation and retention of youth - cannot be understated. They combine with our strong scientific and manufacturing communities to well-position us as we move forward, particularly in the arena of alternative energy.
By holding the line on spending, ultimately cutting taxes, and eliminating unfunded state mandates and regulations, we will alleviate the state's anti-commerce environment. We will preserve and attract businesses and families. Then, we will fully realize Western New York's economic potential.