March 28, 2001
Assembly bills designed to help small businesses compete
The state Assembly has passed a package of bills designed to help small businesses in New York State compete.
The package would:
- Establish a high-tech incubator program with New York State Office of Science, Technology, and Academic Research (NYSTAR). The bill is A.3124/Sweeney.
- Create a regional venture capital fund to be administered by the state Urban Development Corporation. The bill is A.5172/Sweeney.
Assemblyman Robert Sweeney, chair of the Assembly Small Business Committee, said the measures "will help entrepreneurs advance and develop new products and services. Then, as these businesses grow, they stimulate the economy by hiring additional employees."
The package also would:
- Establish a preference for small businesses and entrepreneurs with the state's economic development agencies (A.1960/Koon).
- Assist small businesses in securing financial and technical assistance from state and private programs for pollution prevention and environmental compliance measures (A.427/Destito).