Assemblyman Al Stirpe (D-Cicero) announced that the Assembly’s state budget proposal provides significant funding for economic development, infrastructure and job growth.

“If we want a stronger economy in Central New York, we need to invest in our aging infrastructure and in supporting business growth and job opportunities,” said Stirpe. “This year’s budget proposal reflects those priorities and will directly impact our communities.”

Supporting small businesses and community development

The Assembly’s proposal provides investments in community building and redevelopment. Grants totaling $100 million would be allocated to the Upstate Revitalization Initiative, and another $100 million would go toward RESTORE NY’s Communities Initiative, a program that helps neighborhoods restore blighted properties. The budget also restores $300,000 in additional support for Community Development Financial Institutions (CDFIs), bringing their total funding to $1.8 million.

“The CDFIs provide invaluable expertise and help expedite loans for small businesses, Stirpe said. “That’s why it’s important that we fund them at this level.”

Additionally, the Technology Development Organization, a network of Regional Technology Development Centers which provides assistance to businesses across New York State, would receive $2.6 million under the Assembly’s plan. The proposal also calls for a reduction in taxes for small businesses and farms and establishes a Thruway toll credit for farmers.

Funding for apprenticeship programs to secure employment

Further, the Assembly’s proposal creates the Empire Apprenticeship Tax Credit and Grant program, and allocates $12.5 million for it, to encourage businesses to adopt an apprenticeship model in order to train workers.

“I’ve heard from many business owners about the need for well-trained workers in our region, especially in advanced manufacturing,” said Stirpe. “The apprenticeship model is one that will bring job-seekers and employers together and provide them both with what they need. This will in turn grow our economy.”

The proposal also calls for an extension of the Hire-a-Veteran credit for two more years to help more veterans find employment.

Investing in infrastructure

The Assembly’s budget proposal also calls for $300 million for upgrades to local water and sewer infrastructure statewide and an additional $200 million over four years for the Consolidated Highway Improvement Program (CHIPs) to make needed repairs to our roads.

“Investing in infrastructure is one of the most important ways to invest in our community,” said Stirpe. “Having working sewer systems, clean drinking water and well-maintained highways are critical bedrocks to sustaining and growing communities and keeping our families safe and healthy.”