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Zack Hutchins
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For Release — December 22, 2014

Business community calls for Governor to sign Brownfield Extension

ALBANY, N.Y.—Today, The Business Council of New York State was joined by nearly 30 other chambers of commerce and business organizations from across the state in calling on Governor Cuomo to sign into law legislation to extend the Brownfield Cleanup Program (BCP) through to March 31, 2017.

Without a timely extension prior to the close of 2014, the uncertainty surrounding the program seriously jeopardizes hundreds of millions of dollars in new development projects that will spur further economic development.

The letter also states, “The BCP is the single most effective tool in stimulating economic growth and the redevelopment of contaminated, post-industrial lands across the state. The program effectively facilitates the redevelopment of former industrial lands prevalent throughout our communities, by making projects with exorbitant remediation costs financially feasible. The BCP has leveraged more than 21,000 new jobs and nearly $7 billion in development, across almost 100 projects since the program's inception. Every one dollar of BCP credits issued results in nearly $10 of new investment throughout the state. Without an extension before the end of this year, New York State immediately becomes a less attractive place to do business.

“We cannot wait until 2015; it is critical that we extend the program now. The average BCP project takes 2.8 years from application to completion. With the program currently scheduled to sunset in December 2015 new projects are already out of time. The extension passed in the New York State Senate and Assembly offer a needed reprieve, while a long-term extension of the program is negotiated.

“The BCP works. It leverages new development, remediates environmental contamination, eliminates blighted properties and encourages growth in sustainable locations.

“The listed coalition broadly supports legislative item A.10135/S.7878, extension of the Brownfield Cleanup Program and requests that it be signed into law.”