Assemblyman Bill Magnarelli (D-Syracuse) announced Assembly passage of a bill he sponsored that requires research institutions and companies receiving state funding to consider New York-based businesses first when purchasing goods or services (A.8408).

“It’s only common sense that research institutes and companies receiving state taxpayer money should keep that money here in New York if at all possible,” Magnarelli said. “By looking to New York businesses for goods and services instead of out of state, these institutions can help create jobs and stabilize the tax base. In economic times like these, that’s absolutely critical.”

The bill would also provide oversight over the funding, requiring recipients to state in writing how they plan on publicizing their projects to New York businesses, as well as a statement as to what economic growth will result to whatever extent feasible.

“This bill not only creates and supports jobs in our state, but also ensures that our high-tech companies can continue growing and innovating,” Magnarelli said.