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May 3, 2010


Hon. Dennis Gabryszak (sent to all members of the WNY State Assembly delegation)
New York State Assembly
920 Legislative Office Bldg.
Albany, NY 12248

Dear Assemblymember Gabryszak:

On behalf of 2,500 employer members of the Buffalo Niagara Partnership, I urge your support for A.10679, which would establish the Jobs for New York State (JOBS4NY) economic development and job creation stimulus plan. This sweeping proposal, sponsored by Assemblymember Robin Schimminger, has the potential to create thousands of new jobs and increase state and local revenues by boosting economic activity, at little or no cost to the taxpayers.

We cannot sit idly by and wait for our state to try to emerge from the recession. New Yorkers need your leadership to help jump-start New York’s economic recovery.  Immediate passage of this bill, which offers much-needed incentives, will promote the development of new businesses, the expansion of existing businesses and the growth of emerging technology-based businesses.

The proposed legislation includes a vital extension of the IDA non-profit law which will permit IDAs to continue to incentivize civic facilities projects that have the potential to put thousands of people across the state to work without affecting the fragile state budget. 

We strongly support the bill’s proposal that would repeal the recovery of governmental costs from industrial development agencies (IDAs). This punitive tax, included at the 11th hour in the 2009-2010 state budget, hampers the ability of IDAs to drive economic development through the attraction and retention of business that otherwise would be priced out of New York State.

Also included in the bill is a remedy for the current defect in New York’s tax increment financing (TIF) law. TIF provides a powerful economic development tool for brownfield projects, and at the same time, effective accountability measures to protect taxpayers. It has been used successfully by localities throughout the United States to stimulate investment and expand the tax base in distressed urban areas by helping to finance infrastructure maintenance, repair and expansion; revitalization of blighted areas – including brownfields; and other public improvements necessary to make development possible.

Moreover, we’re pleased that the legislation addresses the expiring “Empire Zone Program.” Reform of the program before its current sunset on June 30, 2010 will signal to both in-state and out-of-state business that New York can deliver effective economic development incentives to eligible businesses who want to stay and grow in New York, most especially in Upstate.

In addition to the much-needed “cost recovery tax” repeal and reform of the state’s TIF statute, A.10679 proposes the expansion of the Qualified Emerging Technology tax credit and the creation of a $25 million technology seed fund – all of which will boost economic growth and restore the state’s credibility as a reliable partner in economic development.

Repairing the state's fiscal situation while ensuring that New York can attract and retain business, foster job creation and drive industrial development will be a challenge – your support of A.10679 is a crucial first step.

Sincerely,

Andrew J. Rudnick

cc.       Assemblymember Robin Schimminger