Report Economic Development

Economic Development Scorecard

2018 New York State Bill Tracker

June 22, 2018

UPDATED: 06/22/2018

See the update for the end of the legislative session.

New York State’s annual investment in economic development exceeds $4 billion, without sufficient disclosure of how the money is spent and what results are achieved.1 The State Fiscal Year 2019 Enacted Budget, approved at the beginning of the month, continues the pattern of increasing economic development expenses without improvements in transparency or accountability. During the remainder of the legislative session, additional proposals to create and expand economic development programs will move through the Legislature—and they should be rejected.

The Citizens Budget Commission (CBC) is launching an Economic Development Scorecard to track these proposals. The scorecard identifies 90 bills active this session. Thirty-two bills expand existing programs, 19 create new broad programs, and 39 target benefits to particular industries or geographic areas.

Although the purported reason for introducing these bills is to generate economic activity or retain businesses, 78 contain no estimate of fiscal impact. For the 12 bills with a stated fiscal impact, the cost of the additional spending or tax breaks totals $310 million.2 The calculations for these estimates are problematic, as well: the methodologies and time frames are not standardized, making comparison difficult.

Until there is comprehensive reform of economic development programs, including transparent reporting on all current projects, no new programs should be created and no existing programs expanded.3 The bills listed in the scorecard should be rejected by the Legislature and the Governor.

Rather than expand economic development programs, New York State legislators should pursue the following reforms, detailed in CBC’s Blueprint for Economic Development Reform:

  1. Establish a Unified Economic Development Budget to Capture Fully All State and Local Costs
  2. Use Standardized Metrics Across Economic Development Initiatives
  3. Publish a Database of Deals to Shine Light on Recipients of Incentives
  4. Improve Program Design
  5. Make Administrative Reforms

The scorecard will be updated throughout the legislative session to monitor the status of each bill, and new bills will be added as necessary. For full scorecard, see the downloadable PDF.

Download Full Scorecard

Download Scorecard Updated 06/22/2018

Category

Industry or Geographic Area Impacted

Bill Numbers and Sponsors

Last Action

Description

Fiscal Impact
(if available, $ in millions)

Expand Existing Program   A8935 (Thiele) S7299 (Lavalle) Passed Assembly 6/19/2018
Passed Senate 2/6/2018
Lessens reporting requirements for ESD's revolving loan fund programs.  
Expand Existing Program Start-ups A10105 (Schimminger) S7961 (Ranzenhoffer) Passed Assembly 6/5/2018
Passed Senate 6/19/2018
Allows Hot Spot designation to extend beyond a certain timeframe; allows companies working with both an Innovation Hot Spot and a certified Incubator to receive Hot Spot tax benefits; and requires Incubator sponsors to utilize at least 85% of any associated awards for operation of the incubator. (Governor's Program Bill #167)  
Expand Existing Program Advertising A10768 (Morelle) S8465 (Golden) Passed Assembly 6/19/2018
Passed Senate 6/19/2018
Extends the Empire State Commercial Production Tax Credit, currently scheduled to expire at the end of 2018. Capped at $7 million annually for five years, through 2023. $7
New Targeted Program Microbusiness A2804 (Thiele) S6855 (Bailey) Passed Assembly 6/18/2018
Passed Senate 6/18/2018
Creates microbusiness worker cooperatives, authorizes loans and loan subsidies.  
New Targeted Program Minorities, women, people with a disability, dislocated workers, veterans A2805 (Thiele) S3804 (Bailey) Passed Assembly 3/19/2018
Passed Senate 6/19/2018
Replaces Entrepreneurship Assistance Centers.  
New Targeted Program Microbusiness A3767 (Quart) S6892 (Kennedy) Passed Assembly 3/19/2018
Passed Senate 6/6/2018
Creates the Microenterprise Development Fund. $1.5
New Targeted Program Agriculture, rural areas A4772C (Woerner) S4727A (Seward) Passed Assembly 6/11/2018
Passed Senate 6/12/2018
Provides tax credit to insurance corporations that invest in rural business growth funds; establishes the New York Agriculture and Rural Jobs Fund.  
New Targeted Program Manufacturing A8292 (Seawright) S3362 (Krueger) Passed Assembly 6/19/2019
Passed Senate 6/20/2018
Establishes grant program to fund kitchen incubators/shared-use kitchen facilities established by nonprofit or government sponsors to support small-scale food manufacturing.  
New Targeted Program Dry cleaners and nail salons A9524 (Kim) S7423 (Avella) Passed Assembly 6/19/2018
Passed Senate 3/27/2018
Provides grants and flexible financing programs to dry cleaning and nail specialty businesses to comply with codes and ventilation requirements. Effective after 90 days.  
New Broad Program   A6175A (Schimminger) S622A (Boyle) Passed Assembly 3/5/2018
Passed Senate 4/18/2018
Authorizes ESD to develop a public awareness campaign promoting businesses located in New York State and publish a Buy New York Online Networking Directory.  
Expand Existing Program Small business A2020 (Schimminger) S8548 (Boyle) Referred to Ways & Means 1/3/2018 (A)
Referred to Corporations, Authorities & Commissions 5/9/2018 (S)
Allow for qualifying small businesses to receive loans or grants under the Economic Development Fund and low-interest loans through the Linked Deposit Program in order to mitigate any impact state or local infrastructure projects might have had on such businesses.  
Expand Existing Program Manufacturing, services A2193 (Schimminger) Referred to Economic Development 1/3/2018 (A) Increases Excelsior Linked Deposit Program by $65 million.  
Expand Existing Program Communities converting correctional/juvenile justice facilities into business/industrial parks A2861 (Butler) Held for Consideration in Economic Development 5/30/2018 (A) Extends application dates for the Economic Transformation and Facility Redevelopment Program.  
Expand Existing Program Small business A3486 (Schimminger) S2138 (Serino) Referred to Ways & Means 1/3/2018 (A)
Passed Senate 1/30/2018
Requires state economic development agencies to give preference to small businesses and entrepreneurs in the programs they administer.  
Expand Existing Program Technology A3509 (Rosenthal) Referred to Economic Development 1/3/2018 (A) Creates regional technology development centers.  
Expand Existing Program Small business A4905 (Schimminger) Referred to Small Business 1/3/2018 (A) Provides funds for outreach to small businesses to increase awareness of the Small Business Innovation Research and Small Business Technology Transfer programs, counseling to potential applicants, and proposal preparation assistance. $1-$2
Expand Existing Program Retail, Town of Islip A4926 (Ramos) Referred to Local Governments 1/3/2018 (A) Expands the scope of projects eligible to receive tax benefits from the Town of Islip Industrial Development Agency to include retail.  
Expand Existing Program Small business A5110A (Schimminger) S5093 (Boyle) Referred to Small Business 1/3/2018 (A)
Referred to Corporations, Authorities & Commissions 1/3/2018 (S)
Revives the Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) Technical Assistance Program.  
Expand Existing Program Minority populations not currently served by technical assistance programs A5404 (Cook) S2344 (Parker) Referred to Ways & Means 2/28/2018 (A)
Referred to Corporations, Authorities & Commissions 1/3/2018 (S)
Requires a study of the geographic coverage of Empire State Development (ESD) programs and any other programs that give technical assistance to minority populations. Requires that ESD work with not-for-profits to fill any gaps found in geographic coverage of these services.  
Expand Existing Program Town of Yorktown A5753 (Byrne) S328 (Murphy) Referred to Local Governments 1/3/2018 (A)
Referred to Local Government 1/3/2018 (S)
Re-establishes an Industrial Development Agency (IDA) in the Town of Yorktown.  
Expand Existing Program Manufacturing, services, startups A5928 (Kolb) Held for Consideration in Economic Development 5/30/2018 (A) Increases total funding by $440 million and dedicates $200 million of the Excelsior Linked Deposit Program for business startups.  
Expand Existing Program Excelsior-eligible industries - manufacturing, agriculture, financial services, distribution, back office, scientific/R&D A6633 (Schimminger) S853 (Young) Referred to Economic Development 1/3/2018 (A)
Referred to Corporations, Authorities & Commissions 1/3/2018 (S)
Reduces job creation requirements for participation in the Excelsior Jobs Program, and statutorily defines 'significant capital investment.'  
Expand Existing Program Small business A6651A (Solages) S8091 (Persaud) Amended 5/3/2018 (A)
Referred to Commerce, Economic Development and Small Business 3/27/2018 (S)
Creates a division within ESD on small business crime prevention, and allows for loans, loan guarantees, interest subsidies and grants to benefit small businesses and crime prevention strategies.  
Expand Existing Program Communities with state psychiatric centers A7189A (Jenne) Referred to Economic Development 1/3/2018 (A) Grants eligibility for the Economic Transformation and Facility Redevelopment Program tax credit to certain state psychiatric centers with decommissioned or surplus land.  
Expand Existing Program Professional services, health care A7894A (Schimminger) S5155B (Ranzenhoffer) Amended 1/22/2018 (A)
Committed to Rules 6/20/2018  (S)
Allows IDAs to support some retail projects, including professional office uses (medical, insurance, accounting, etc.) in mixed use projects including residential uses.  
Expand Existing Program Manufacturing, services A8117 (Schimminger) S6491 (Young) Advanced to Third Reading 5/31/2018 (A)
Referred to Finance 1/3/2018 (S)
Eliminates the one-time loan amount maximum, and increases lifetime loan amounts from $2 million to $5 million for the Excelsior Linked Deposit Program.  
Expand Existing Program Start-ups A8119 (Schimminger) S5307 (Golden) Referred to Ways & Means 1/3/2018 (A)
Referred to Corporations, Authorities & Commissions 1/3/2018 (S)
Allows Hot Spot designation to extend beyond a certain timeframe; allows companies working with both an Innovation Hot Spot and a certified Incubator to receive Hot Spot tax benefits. (Governor's Program Bill #92)  
Expand Existing Program   A8358 (Magnarelli) S6230 (Gallivan) Referred to Local Governments 1/3/2018 (A)
Referred to Local Government 1/3/2018 (S)
Allows IDAs to provide loans, grants, and equity funding (seed or early-stage).  
Expand Existing Program City of Fulton A8454A (Barclay) S6635 (Ritchie) Referred to Economic Development 1/3/2018 (A)
Advanced to Third Reading 3/22/2018 (S)
Allows an entity that was previously certified in the Fulton Empire Zone and failed to file a timely annual business report to apply for reinstatement.  
Expand Existing Program Small business A9734 (Thiele) S1116A (Akshar) Referred to Real Property Taxation 2/2/2018 (A)
Passed Senate 5/2/2018
Makes real property owned by small businesses (100 employees or fewer) eligible for the STAR property tax exemption.  
Expand Existing Program Start-ups A10028 (Schimminger) S6809 (Golden) Referred to Economic Development Committee 3/7/2018 (A)
Referred to Corporations, Authorities & Commissions Committee 1/3/2018 (S)
Allows Hot Spot designation to extend beyond a certain timeframe; allows companies working with both an Innovation Hot Spot and a certified Incubator to receive Hot Spot tax benefits; and requires Incubator sponsors to utilize at least 85% of any associated awards for operation of the incubator.  
Expand Existing Program Manufacturing A10121 (Stirpe) S7561A (O'Mara) Referred to Ways & Means 3/16/2018 (A)
Passed Senate 6/14/2018
Extends the zero-percent Corporate Franchise Tax rate to qualified pass-through manufacturers. Currently the zero rate applies to manufacturers organized as C corps. $140
Expand Existing Program Financial services A10854 (Vanel) Referred to Economic Development 5/23/2018 (A) Expands the scope of financial services data centers or back office operations eligible for Excelsior to include businesses engaged in distributed  ledger technology, or blockchain.  
Expand Existing Program Small business S796 (Alcantara) Referred to Corporation, Authorities & Commissions 1/3/2018 (S) Expands and renames the Regional Revolving Loan Fund as the Small Business Regional Revolving Loan Fund.  
Expand Existing Program Microbusiness S1802 (Kennedy) Referred to Commerce, Economic Development & Small Business 1/3/2018 (S) Provides that microbusinesses are eligible for $5 million in the Small Business Revolving Loan Fund and the Linked Deposit Program interest rate reductions.  
Expand Existing Program Communities with state psychiatric centers S3017B (Ritchie) Amended 2/23/2018 (S) Grants eligibility for the Economic Transformation and Facility Redevelopment Program tax credit to certain state psychiatric centers with decommissioned or surplus land (application must be prescribed by the Commissioner of Mental Health by September 2018).  
Expand Existing Program Environment and energy S3121 (Parker) Referred to Commerce, Economic Development & Small Business 1/3/2018 (S) Adds clean environmental and energy technologies to the list of emerging industrial classifications that are eligible for Qualified Emerging Technology Company tax credits.  
Expand Existing Program Small business, manufacturing, agriculture S4391A (Griffo) Amended 1/26/2018 (S) Increases the small business and farm income deduction, establishes a STAR property tax exemption for small businesses, and expands START-UP NY to manufacturers who design, develop, and produce their product in NY.  
Expand Existing Program   S7178 (Kennedy) Referred to Commerce, Economic Development & Small Business 1/3/2018 (S) Increases the Excelsior Research and Development Tax Credit from 6% to 20%.  
New Broad Program   A213 (Gantt) Referred to Ways & Means 1/3/2018 (A) Provides a tax credit for any business creating new jobs, equal to half the new income tax revenue created as a result of the jobs created, for up to 10 years. Employment must be maintained for twice the term of the tax credit and may be clawed back for failure to comply.  
New Broad Program Small business A400 (Gunther) S5420 (Kennedy) Referred to Ways & Means 1/3/2018 (A)
Referred to Investigations & Government Operations 1/3/2018 (S)
Creates a Small Business Electric Energy Tax Credit, equal to two cents per kilowatt hour for electricity usage at the primary business location.  
New Broad Program   A1985 (Lentol) Referred to Higher Education 1/3/2018 (A) Creates the New York Entrepreneur Program, in which SUNY and CUNY graduates submit a startup business plan and are selected to receive free housing, student loan deferral, and access to school resources for 5 years.  
New Broad Program   A2233 (Crouch) Held for Consideration in Real Property Taxation 4/17/2018 (A) Grants a property tax exemption to nonprofits organized with a purpose of promoting economic development by acquiring property for development.  
New Broad Program   A2314 (Ra) Referred to Real Property Taxation 1/3/2018 (A) Provides property tax exemptions for development on vacant land, depending on the value of improvements and ranging from 25% to 50% for 5 to 10 years, and a deduction for small business relocation to these properties.  
New Broad Program Small business A2348A (Thiele ) S2999A (Lavalle) Referred to Ways & Means 1/3/2018 (A)
Passed Senate 5/2/2018
Provides financial assistance to small business for pollution prevention, control and compliance.  
New Broad Program Small business A2457 (Lavine) Referred to Ways & Means 1/3/2018  (A) Authorizes creation of small business tax-deferred savings accounts. Money may be withdrawn tax free only to create full-time jobs.  
New Broad Program Small business A3284 (Thiele) S795 (Alcantara) Referred to Small Business 1/3/2018 (A)
Referred to Corporations, Authorities & Commissions 1/3/2018 (S)
Provides zero and low interest loans or loan interest rate reduction for energy improvement projects to stimulate growth and development of small businesses.  
New Broad Program Small business A5423 (Kolb) Held for Consideration in Ways & Means 6/14/2018 (A) Enacts the Small Business Full Employment Act, consisting of several tax credits and reductions.  
New Broad Program Small business A5679 (Kolb) Held for Consideration in Economic Development 5/30/2018 (A) Creates the Bizboom program, which consists of a series of tax incentives for new businesses.  
New Broad Program   A5922 (Kolb) S8524 (Boyle) Held for Consideration in Ways & Means 6/14/2018 (A)
Referred to Local Government 5/9/2018 (S)
Creates the New York State Cornerstone Program and Discovery Program, which provide tax benefits for businesses retaining or creating jobs and reduces the Corporate Franchise Tax and Insurance Corporations Tax.  
New Broad Program Small business A6105A (Kolb) S3392A (Gallivan) Held for Consideration in Economic Development 5/30/2018 (A)
Passed Senate 5/2/2018
Establishes the GrowNY pilot program, an "economic gardening" pilot program within the department of economic development. Would authorize $500,000 annual grants for a period of 5 years to entities capable of giving technical assistance to growing businesses.  $10
New Broad Program   A8049A (Fahy) S4090B (Akshar) Referred to Ways & Means 1/3/2018 (A)
Reported and Committed to Finance 5/15/2018 (S)
Establishes a job creation tax credit of $750 for each new full-time position created, up to 30 positions per tax year, plus an additional $750 for positions in manufacturing or processing using agricultural commodities.  
New Broad Program Small business A9671 (Buchwald) S7546 (Funke) Referred to Small Business 1/31/2018 (A)
Referred to Corporations, Authorities & Commissions 1/23/2018 (S)
Establishes the New York State Innovation Voucher Program. Vouchers would serve as matching funds for small businesses to use with research and development organizations such as universities and national laboratories.  
New Broad Program   A10233 (Wallace) S7769 (Kennedy) Referred to Energy 3/26/2018 (A)
Referred to Energy and Telecommunications 2/21/2018 (S)
Creates a Take Charge New York program, in which awardees receive a microgrid and pay back the New York Power Authority and microgrid provider for the cost of microgrid installation through the value of the energy saved.  
New Broad Program   S1842 (Kennedy) Referred to Commerce, Economic Development & Small Business 1/3/2018 (S) Establishes the Capital Investment Jobs Retention Program, a refundable tax credit for eligible businesses making significant capital investments and retaining jobs.  
New Broad Program   S2691 (Breslin) Referred to Commerce, Economic Development & Small Business 1/3/2018 (S) Establishes the Transitional Green Development Program to assist upstate communities with coordinating their natural, cultural, and historical resources into a development plan. $2
New Broad Program   S3420 (Parker) Referred to Investigations & Government  Operations 1/3/2018 (S) Provides a tax credit for any business creating new jobs, equal to half the new income tax revenue created as a result of the jobs created, for up to 10 years. Employment must be maintained for twice the term of the tax credit and may be clawed back for failure to comply.  
New Targeted Program Agriculture A550 ( Rosenthal L) Referred to Economic Development 1/3/2018 (A) Establishes Regional Farmers' Markets Facilities Construction Program to offer construction grants to farmers.  
New Targeted Program Area surrounding Second Ave Subway A674 (Rodriguez  ) Referred to Economic Development 1/3/2018 (A) Establishes economic grant program for the Second Avenue Subway construction project area.  
New Targeted Program Small business A816 (Crouch) Referred to Small Business 1/3/2018 (A) Creates pilot to train and counsel small retail business owners and potential small business owners, makes appropriation. $0.21
New Targeted Program STEM education A932 (Bichotte) Referred to Economic Development 1/3/2018 (A) Creates a grant program for school districts, institutions of higher education, nonprofit organizations, other entities to prepare students for postsecondary STEM education and careers.  
New Targeted Program STEM education A1157 (Rozic) S5228 (Stavisky) Referred to Higher Education 1/3/2018 (A)
Referred to Commerce, Economic Development & Small Business 1/3/2018 (S)
Creates the Community College High-Technology Investment Program (C-CHIP), which would award grants to community colleges to improve laboratory or other facilities to provide technology education and occupation-specific training.  
New Targeted Program Start-ups A1709 (Mosley) S2196 (Parker) Referred to Economic Development 1/3/2018 (A)
Referred to Commerce, Economic Development & Small Business 1/3/2018 (S)
Creates the New York incubator network, authorizes grants.  
New Targeted Program Biosciences A1801 (Morelle) S8549 (Boyle) Referred to Economic Development 1/3/2018 (A)
Reported and Committed to Rules 6/7/2018 (S)
Creates the New York State Biomedical and Biotechnological Translational Research and Entrepreneurship Initiative.  
New Targeted Program Music and video game production A2670B (Lentol) S3159A (Golden) Referred to Ways and Means 1/3/2018 (A)
Passed Senate 6/12/2018
Replaces Exelsior Jobs Program eligibility of the music and video game production industries with a new tax credit for production costs. Capped at $50 million annually for each industry and available through 2022. $100
New Targeted Program Manufacturing A2762 (Butler) Held for Consideration in Economic Development 4/17/2018 (A) Establishes an online registry to highlight products manufactured or produced in New York State, and requires ESD to create a product label for products made in New York.  
New Targeted Program Microbusiness A2860 (Thiele) Referred to Small Business 1/3/2018 (A) Enacts HIRE NY act, provides loans for microbusiness hiring. $20
New Targeted Program Restaurants and hotels A3069 (Ryan) Referred to Economic Development 1/3/2018 (A) Creates a restaurant and hotel renovation tax incentive.  
New Targeted Program Biosciences A3488 (Ryan) Referred to Economic Development 1/3/2018 (A) Establishes the Biosciences Commercialization Assistance Fund.  
New Targeted Program Tourism A3916 (Barclay) Held for Consideration in Tourism, Parks, Arts and Sports Development 5/30/2018 (A) Creates the I Love NY Outdoor program to promote outdoor recreation opporutnities and makes an appropriation of $2.5 million for developing materials. $2.5
New Targeted Program Microbusiness A4124 (Thiele) S8551 (Boyle) Referred to Ways & Means 2/6/2018 (A)
Reported and Committed to Rules 6/7/2018 (S)
Creates the Microbusiness Outreach Center Assistance Program and Microbusiness Outreach Center.  
New Targeted Program Agriculture A4411 (Magee) Referred to Economic Development 1/3/2018 (A) Creates Young Farmers Fund with grants of up $50,000 per young farmer.  
New Targeted Program Agriculture in Jefferson, Oswego, and St. Lawrence counties A4812 (Blankenbush) Held for Consideration in Ways & Means 6/14/2018  (A) Establishes revolving loan program to provide low-interest loans to farmers in Jefferson, Oswego, and St. Lawrence counties to upgrade electricity.  
New Targeted Program STEM education A4963 (Rosenthal L) S8614 (Boyle) Passed Assembly 6/11/2018
Referred to Corporations, Authorities & Commissions 5/10/2018 (S)
Creates STEM grant program for women and minorities.   
New Targeted Program Small business A4993 (Giglio) Held for Consideration in Ways & Means 6/14/2018 (A) Establishes tax credit of up to 25% for small businesses with less than 15 employees located in villages or cities with fewer than 35,000 people.  
New Targeted Program Manufacturing A5605 (Norris) Referred to Economic Development 1/3/2018 (A) Creates one-time tax credit for manufacturing companies with a presence in the state that bring from outside of the state more than 50 employees. Credit would be equal to 2.5% of salaries of the relocated jobs.  
New Targeted Program Small business, manufacturing A6936 (Kolb) Held for Consideration in Ways & Means 6/14/2018 (A) Enacts Work-NY, consisting of several tax credits and reductions.  
New Targeted Program Agriculture A7295A (Magee) S2480A (Ritchie) Amended 3/8/2018 (A)
Committed to Rules 6/20/2018 (S)
Provides grants and low interest loans of up to $100,000 to dairy farms who make energy efficient improvements.  
New Targeted Program Microbusiness A7434 (Blake) S2870 (Parker) Referred to Small Business 1/3/2018 (A)
Referred to Corporations, Authorities & Commissions 1/3/2018 (S)
Enacts the HIRE NY act to provide zero-interest loans for hiring by microbusinesses (less than 5 employees).  
New Targeted Program Tourism A8001 (Thiele) S3441 (Serrano) Referred to Tourism, Parks, Arts & Sports Development 1/3/2018 (A)
Referred to Commerce, Economic Development & Small Business 1/3/2018 (S)
Establishes grants to open and operate bicycle kiosks in order to promote bicycle tourism in New York State. $0.30
New Targeted Program Manufacturing A8543 (Kolb) Held for Consideration in Economic Development 5/30/2018 (A) Establishes the Manufacturing Preservation and Enhancement Act, including multiple tax credits.  
New Targeted Program Small business, microbusiness A9543 (Thiele) S7543 (LaValle) Referred to Ways and Means 5/1/2018 (A)
Reported and Committed to Finance 5/8/2018 (S)
Creates the Main Street Center Grant Program, for renovations at small businesses, and expands services to microbusinesses (fewer than five employees).  
New Targeted Program Environment and energy A9872 (Pichardo) Referred to Small Business 2/16/2018 (A) Provides small businesses with grants up to $100,000 to incentivize commercialization of energy and environmental technology innovations.  
New Targeted Program High tech manufacturing S2332 (Alcantara) Referred to Commerce, Economic Development & Small Business 1/3/2018 (S) Creates the Mobile High-Technology Training Facilities Program.  
New Targeted Program Restaurants S2963 (Helming) Referred to Commerce, Economic Development & Small Business 1/3/2018 (S) Creates the Restaurant Renovation Tax Incentive Program.  
New Targeted Program Manufacturing S4685 (Sanders) Referred to Commerce, Economic Development & Small Business 1/3/2018 (S) Establishes the Manufacturing Development Zone Program and associated tax credits.  
New Targeted Program Manufacturing S5186 (Carlucci) Committed to Finance 3/6/2018 (S) Permits the creation of a "Made by New Yorkers" label and registry and creates the Made by New Yorkers Fund to issue grants to small or medium businesses expanding operations.  
New Targeted Program Video game production S5887A (Golden) Pased Senate 6/20/2018 Replaces Exelsior Jobs Program eligibility of the video game production industry with a new tax credit for production costs. Capped at $25 million annually industry and available through 2022. $25
New Targeted Program Worker cooperatives and employee-owned businesses S5685A (Bailey) Amended 1/22/2018 (S) Establishes the Center for Employee Ownership, authorizes the creation of a trust fund and loans from the trust fund.  
New Targeted Program Dry cleaners and nail salons S5923B (Peralta) Referred to Corporation, Authorities & Commissions 1/3/2018 (S) Provides grants and flexible financing programs to dry cleaning and nail specialty businesses to comply with codes and ventilation requirements. Effective after 180 days.  
           

*Denotes Bill Added on 05/21/2018

†Denotes Bill Added on 6/4/2018

         

Footnotes

  1. Riley Edwards and David Friedfel, Increasing Without Evidence: NYC Economic Development Spending Update (Citizens Budget Commission, September 2016), https://cbcny.org/research/increasing-without-evidence.
  2. This is the sum of the amounts reported in the “Fiscal Implications” section of each bill’s sponsor memo. Some are actual appropriations, while others are the estimated cost of tax expenditures or of future appropriations not made in the bill itself.
  3. Riley Edwards, A Blueprint for Economic Development Reform (Citizens Budget Commission, March 2017), https://cbcny.org/research/blueprint-economic-development-reform.