After New York Gov. Kathy Hochul held her first State of the State address Wednesday afternoon in a joint session of the state legislature, local business leaders voiced their approval for various aspects Hochul’s agenda.
Among the governor’s announcements were a $1 billion small business rescue plan, including seed funding for emerging small businesses and lending initiative with reduced interest rates for small businesses, and roughly $100 million in tax relief for 195,000 small businesses. Another initiative will provide funding and technical assistance to help small businesses secure federally funded contracts related to the $1.2 trillion federal Infrastructure Investment and Jobs Act.
She also announced the new Office of Workforce and Economic Development.
The Business Council of Westchester President and CEO Marsha Gordon and Executive Vice President John Ravitz released a statement commending Gov. Hochul’s proposals, specifically those intended to help small businesses, implement infrastructure, expand the state’s Brownfield Cleanup Program, increase funding for child care, assist the hospitality sector, make $3,000 retention payments to health care workers and develop a sustainable renewable energy plan.
The BCW release also noted that the organization intends to share its 2022 Legislative Agenda with the governor’s office in the coming weeks. It will ask the state to cut down mandates and regulations that burden businesses, along with recommending initiatives for the upcoming state budget.
John Cooney Jr., executive director of the Construction Industry Council of Westchester & Hudson Valley, also released a statement commending Hochul for understanding the needs of the state, and saying that the organization plans to support her commitment to building infrastructure in Westchester and the Hudson Valley and across the state.
“We applaud Gov. Hochul”™s enthusiasm and fervent commitment to accelerate infrastructure improvements and to expand transportation mobility to make the Empire State more business friendly and the nexus of commerce as a place where opportunities are made available to more New Yorkers,” Cooney said.
