In an ongoing effort to help local business owners create new jobs and grow their businesses, Assemblymember Didi Barrett (D-Mid Hudson) made seven more stops in the district on her “Where the Jobs Are” tour last week. The tour gives her the chance to hear firsthand the issues that challenge businesses and hinder job growth in the area, helping her to better support a more welcoming business climate in the Mid-Hudson Valley.

Last week, Barrett met with officials from Marist College, Columbia-Greene Community College, Central Hudson Gas & Electric Corporation, Columbia Memorial Hospital, Hillrock Estate Distillery, Etsy and Alicia Adams Alpaca Inc.

“While the economy seems to be moving in the right direction, there are still too many folks without work,” Assemblymember Barrett said. “This tour creates a dialogue with local employers, managers and workers to focus on how we can create the good-paying jobs our residents need and allow our businesses to thrive at the same time.”

Barrett pointed to this year’s state budget as a sign of progress, adding that it provides funding for economic development projects as well as $700 million in business tax credits to boost the state's economy.

“Local businesses need relief from burdensome regulations and taxes,” Assemblymember Barrett said. “This year’s state budget helps mitigate the pressure businesses have been feeling and offers tax incentives to hire and retain new workers.”

The budget helps businesses by phasing out the burdensome 18-A utility assessment surcharge and reducing the current 3.25 percent tax rate on manufacturing companies to 2.4 percent by 2018. In addition, businesses that hire veterans will receive a tax credit equal to 10 percent of wages paid or 15 percent of wages paid if the veteran is disabled.

The budget is also very good news for agriculture, one of the most important industries in the Mid-Hudson and Capital Regions. In addition to funding for local apple growers, maple syrup producers and the Farm Viability Institute, the budget also creates the new Market-NY initiative, which will promote locally produced goods, help bolster tourism and expand options for our farms, wineries, distilleries and breweries.

Additionally, the budget provides bridge loans for procurement purposes within the Small Business Revolving Loan Fund to help minority - and women-owned businesses and other small businesses access capital at affordable rates. And it also would expand the Excelsior Linked Deposit program so small businesses in high technology industries can participate. Furthermore, the budget establishes the Innovation Venture Capital Fund which will provide early-stage seed money for investments in new businesses and promote the transition from research and development to commercialization.