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Jobs & Economic Growth
Supporting Small Businesses
01 Reduce Overhead Costs
Eliminate the Interest Assessment Surcharge (IAS): Appropriate $500 million from the State’s Economic Uncertainties Fund to pay off the IAS and remove this burden from employers (A.2982, Ra).
Minimum Wage Reimbursement: Expand the eligibility to receive the Minimum Wage Reimbursement Credit to employers who pay the minimum wage plus fifty cents to certain employees (A.4809, Norris)
Small Business Infectious Disease Reduction Credit: Establish a small business tax credit of up to $5,000 for efforts to improve a facility in order to reduce the spread of infectious diseases (A.3695, Bendett).
02 Support Locally-Owned Businesses
New York – Shop Local Program: Provide immediate assistance to small businesses by providing grants of up to $10,000 to support online marketing campaigns and social media strategies and provide valuable business assistance to locally owned businesses (A.3626, Ra).
Small Business Study: Direct the Department of Economic Development (DED) to study the attrition of small retail businesses from the state and create a pilot program to help maintain the existence of small businesses within the state and to train and counsel small business owners and potential small business owners (A.2710, Angelino).
03 Promote New York State Products
NYS Small Business Products: Provides a tax credit ranging from $1,000 - $5,000 to small businesses that source a certain percentage of New York-produced food, beverage, or agricultural goods (A.2954, Simpson).
NYS Product Promotion Act: Require DED to establish an online registry that would highlight businesses that manufacture or produce products in New York State. Also, requires DED to create a product Label (with registry website listed on it) to help identify products manufactured or produced in New York State (A.4690, Smullen).
NY Food Insecurity, Farm Resiliency, and Rural Poverty Initiative: Connect farmers with excess products to food banks while simultaneously providing farmers with grants and regulatory relief to help them expand and sustain their operations (A.5708, Tague).