• New York has lost thousands of jobs over recent years to other states that have moved more aggressively to respond to the needs of the business community.
• The State’s cumbersome bureaucracy has been slow to embrace the potential that scientific discovery holds in this "new economy" and slow to respond to the unique needs of the State’s diverse regional economies.

In order to maximize our economic development efforts and restore New York to its leadership role in the global economy, the Assembly proposes to:

1. Restructure the State’s economic development agencies

• Several of the nation’s Governors, including former Governor Whitman of New Jersey, and Governors Engler of Michigan and Bush of Florida, have recently enhanced their economic development efforts, moving their governance from traditional political bureaucracies to high-powered organizations administered by non-partisan public/private boards.
• New York should follow suit and create an independent, market-driven New York State Economic Development Commission governed by a non-partisan, professional board to focus and coordinate state economic development efforts.
• The commission’s board of directors would be chaired by the Governor and would be comprised of 15 private sector members representing the geographic and industrial diversity of the State. They would be appointed as follows:
  • 3 members nominated by the Speaker of the Assembly;
  • 3 members nominated by the Temporary President of the Senate; and,
  • 9 members appointed by the Governor to represent the interests of labor and industry.

2. Regionalize the State’s economic development efforts

• The failed policies of the past have left many areas of our State economically beleaguered.
• The State should remove its heavy hand of bureaucracy and move decision-making for economic development planning and project funding to the regional and local levels where professionals are more in touch with the needs of regional and local economies.