In an effort to create more jobs in the Capital Region, Assemblymember Phil Steck (D-Colonie) announced the Assembly passed a budget proposal that includes funding for new capital projects and jobs programs, while continuing to encourage a business-friendly environment in New York State (E.182).
“The Capital Region has a dynamic and well-educated workforce,” Assemblymember Steck said. “The Assembly’s budget targets investments to programs and pro-business initiatives that will strengthen our job market and bolster our economy.”
The Assembly budget proposal provides more than $100 million for a new jobs initiative. Funding would go to the reconstruction of communities and advanced manufacturing and certification assistance. Funds would also be allocated to education and job training for science, technology, engineering and mathematics fields.
The proposal also includes a $1.01 million restoration to the Institute for Nanoelectronics Discovery and Exploration (INDEX) at The College of Nanoscale Science and Engineering (CNSE).
“The more education and job training we have available in our community, the more appealing our area becomes,” Assemblymember Steck said. “With this training, we can ensure we have an even more talented workforce that will attract cutting-edge businesses to the Capital Region.”
The Assembly budget proposal also creates and restores funding to programs designed to assist small businesses. The proposal includes $12.5 million for the Small Businesses Revolving Loan Fund and $500,000 for Small Business Innovation Research (SBIR) Outreach and Technical Assistance. The budget would also restore $365,000 in additional support for the Minority- and Women-Owned Business Development and Lending Programs for a total of $1 million.
“Small businesses are the cornerstone of our local economy,” Assemblymember Steck said. “These programs help prospective small businesses get started. More small businesses will mean more jobs and more jobs are good news for our region.”