March 24, 1999
Assembly unveils new 'Main Street' jobs plan
The Assembly Majority Wednesday unveiled "Main Street," a five-year strategy for business development and job creation. The program would cut taxes by $75 million, including $28 million for small businesses and high-tech firms in 1999-2000.
The program would target state investment at small businesses, emerging high-tech firms, and university-industry collaborations in R&D and workforce development.
Specifically, the program would:
- Provide airline tax relief.
- Double the emerging-technology credits for startup companies moving from not-for-profit research institutions to the private sector.
- Allocate $504 million in regional economic development marketing, small business assistance, strategic training, capital access, and regional business marketing.
- Earmark $158 million for high-tech R&D, technology transfer, and "sustainable economic development."
- Invest $116 million in economic development in the neediest local economies and support of federal economic assistance efforts.