The state of New York has allocated funds to a long term ad campaign, “New York Open for Business.” This, along with the assembly of state funds for economic development through 10 local development councils throughout the state, are the beginnings of the state government attempting to reverse the reputation of New York having one of the worst business climates and create jobs.
In years past, businesses have left the state at a high rate, taking jobs along with them. The new economic development councils will be submitting 5 year strategic plans by November 14th for plans in the five boroughs. Initial ideas emerged centering around leveraging regional assets, focus on quality job creation, improving disadvantaged areas, infrastructure investments and education.
New York City has long been viewed as a global center with an entrepreneurial spirit and will receive $40 million of the total $200 million the state has allocated for these initiatives, geared for small businesses. Stay tuned for new developments.
August 25, 2011
**NOTE: This is intended for informational purposes only.**
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