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MARCH 1998

Assembly proposes tax cuts to spur high-tech job growth

"Assembly High-Tech Jobs Agenda" would create 50,000 jobs in five years, Silver says

Assembly Speaker Sheldon Silver Wednesday proposed a package of bills designed to spur job growth in high-tech industries through targeted tax reductions, credits and other incentives.

Speaker Silver said his package, which is called "The Assembly High-Tech Jobs Agenda," is intended to develop high-tech companies and to create more than 50,000 new jobs in the next five years.

"It is significant that Governor Pataki, Majority Leader Bruno and Speaker Silver have each put forth a tax package intended to strengthen the economic comeback that New York has started but not finished,"said Daniel B. Walsh, President of The Business Council.

"We believe that these proposals are complementary, not competing," he added.

Highlights of the Assembly's multiple-bill package include the following:

Silver said the proposal is designed to make New York "a front-runner in the high-speed world of emerging technologies."

Silver was joined in the announcement by Assemblymen Robin Schimminger, Joseph Morelle, and Robert K. Sweeney.

March 5, 1998