Giglio, Minority Work To Boost Small Business In New York

Task Force seeks solutions to remove obstacles to economic growth

ALBANY – Assemblyman Joe Giglio (R,C,I – Gowanda) and his colleagues from The Assembly Minority Task Force on Small Business in New York State today met with local industry leaders and experts to discuss how to ease the hefty tax burden on small businesses that destroys economic growth.

Nearly 98 percent of all New York businesses are small businesses – about 1.7 million in the state, according to the U.S. Department of Labor. More than half of all working New Yorkers earn a paycheck from a small business owner. The U.S. Census reports that for the foreseeable future, businesses of 100 employees or less will account for 60 to 80 percent of new job growth.

“The work being done by this task force is very important to bringing new jobs to the Southern Tier and stimulating the state’s economy,” said Assemblyman Joe Giglio. “The experts we spoke with today gave us valuable feedback on how New York can help our state’s small businesses succeed.”

Among the Assembly minority in attendance were small business owners, industry associations, and business coalitions.

As part of the recently unveiled Restore New York plan, the Assembly minority is sponsoring legislation to make it easier for small businesses to thrive in New York. These proposals include increasing Main Street revitalization efforts, restoring the one percent lower tax rate for small businesses and providing health insurance tax credits. Additional measures would establish a small business training tax credit, reduce energy taxes and require prompt payments of state contracts.

The Assembly Minority Task Force on Small Business in New York is hosting several roundtables across the state in 2006. At the conclusion of these forums, the Task Force will craft a legislative package designed to strengthen small business in New York.

For more information, please call the Assembly Minority Office of Public Affairs at (518) 455-5073.