Assemblymember Pichardo’s Legislation Provides Grants to Small Businesses, Passes Assembly

March 17, 2016

Assemblymember Victor Pichardo (D-Bronx) announced legislation he authored to create the New York State Innovative Energy and Environmental Technology Program has passed the Assembly (A.5932-A). The bill – which also passed the Assembly last year – would provide grants of up to $100,000 to small businesses to develop and commercialize energy and environmental technology innovations.

“Providing grants to small businesses in New York State which are working on green energy solutions will foster an environment that promotes and encourages the best and the brightest to develop and innovate for the 21st century economy right here in New York State,” said Pichardo. “We need to make sure our local small businesses have the resources they need to protect our environment and help our economy thrive and create new jobs as they expand.”

Specifically, the bill would allow qualified small businesses to apply for grants from the New York State Urban Development Corporation of up to $100,000 to support emerging technologies. These include methods for the production, distribution, conservation and storage of energy, with an emphasis on renewable sources like solar, wind, fuel cells, advanced hydroelectric and biomass power conversion technologies. Emerging environmental technologies include those that improve the efficiency or advance the sustainability of water, air, and soil pollution control, waste management and environmental monitoring and recycling.

In their applications for these competitive grants, small businesses would be required to describe the product, device, technique, system or process that is being developed, along with the estimated number of jobs and salary levels that would be created and/or retained as a result, Pichardo, who is a member of the Assembly’s Small Business Committee, noted.

“I am pleased this legislation has passed the Assembly once again, and I call on my colleagues in the Senate to take up this important initiative,” said Pichardo. “We must move forward on common sense solutions to the challenges facing our environment.”