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Buffalo Next: For businesses, the bill is coming due for the pandemic surge in unemployment benefits
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BUFFALO, N.Y. (The Buffalo News) — New York State owes $9.3 billion to the federal government for funds borrowed to cover the cost of unemployment claims that soared during the pandemic.
Now the bill from Uncle Sam is coming due. And small businesses worry they will get stuck with the tab, in the form of significant tax increases.
“No one is questioning how unprecedented all of this was,” said Grant Loomis, vice president of government affairs at the Buffalo Niagara Partnership. “But we have to remember it was not employers who created this unprecedented level of unemployment.”
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BUFFALO, NY (The Buffalo News) — Developer Rocco Termini is angry. Architect Steve Carmina is upset. Developer and former U.S. Rep. Chris Jacobs is worried. And commercial real estate broker Steve Blake is concerned.
All four have seen the impact of the state Brownfield Cleanup Program and its related tax credits on redevelopment activity in Buffalo, where remediation of polluted buildings and land have paved the way for new apartments, restaurants and stores.
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