Assemblyman Stirpe: Balance is the Key to Continued Growth of Central New York’s Economy
“As a result of the measures I’ve fought for to help spur economic growth in Central New York, we are beginning to see the positive results we need to get our economy back on track. Currently, our region’s unemployment rate is continuing to decline. As of July it stood at 6.4 percent in Central New York, compared to 7.5 percent and 8.6 percent in 2013 and 2012, respectively.1 A part of that reduction can be attributed to the tax breaks I helped secure to help businesses create and retain jobs. This includes completely eliminating the manufacturers’ income tax as well as slashing their property taxes by 20 percent, lowering the corporate tax rate to its lowest level since 1968 and reforming the estate tax. I also helped reform the Unemployment Insurance (UI) fund to provide long-term savings to businesses while increasing benefits for the unemployed. Additionally, we are saving businesses, and residential customers, $600 million over three years as a result of the elimination of an energy tax. And in 2013 I helped create START-UP NY, which designates tax-free zones for eligible businesses near SUNY campuses – as well as private colleges and universities – to foster job creation. Locally, Onondaga Community College has designated 70 acres of its campus as a START-UP NY zone and is ready to bring in new businesses and jobs to Central New York.2
“While providing a better business climate through tax cuts and START-UP NY are good steps toward revitalizing Central New York, we have taken further steps to boost the economy by investing in our region through the Central New York Regional Economic Development Council (CNYREDC). I helped secure nearly $67 million in funding for local projects; this is on top of the $197.5 million that was invested by the CNYREDC in 2011 and 2012. We’ve made a lot of progress, but more remains to be done to ensure our region can build upon its successes.
“As we make these investments in our economic future, we have to remember to also invest in the backbone of our community – the working families of Central New York. This starts with my commitment to make pay equity a reality. In 2014, there is no reason that a woman should be paid less than a man for the same job. As families set their budgets, including families run by single mothers, they shouldn’t have less money because of gender. It’s wrong and I will keep fighting for equal pay for equal work for the women and families of our state, because when women succeed, families succeed. At the same time, we need to ensure families can keep more of their hard-earned money in their own pockets.
“Families shouldn’t be struggling to get by – that’s why I worked hard to provide meaningful tax relief to help ease the strain on their budgets. This includes securing a $350 rebate check for families with kids, securing property tax rebate checks for homeowners and reducing the income tax rate to its lowest in 60 years. In order to succeed, we must continue to invest in our workforce and protect our families. That’s why I am a staunch supporter of increasing the minimum wage, as well as instituting paid family leave so families can take the necessary time to nurture their newborns or take care of a sick or elderly parent, without having to sacrifice their economic well-being.
“In order for our region, and state, to truly succeed we have to support businesses’ needs, but we must also support the needs of our working families. It’s the right thing to do and it’s the path we need to take to ensure Central New York is a place where families can continue to succeed and make their home.”
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