Creating Jobs by Focusing on Small Business and Critical Infrastructure to Invest in our Future
Growing up in Syracuse, I worked at my family's electroplating business and saw first hand the struggles to start a business, make payroll, and expand. To get our economy going again, we’ve got to create an environment that makes it easier for small businesses to create jobs.
That means cutting pointless regulations and red tape wherever we can, and providing smart tax incentives for those small businesses that create new jobs. The first thing I did when I took office in January 2013 was host a series of roundtables with small businesses, economic development leaders, and other job creators across Central New York. After getting their input, I released a jobs plan that will spur economic growth and job creation in our communities. I have introduced two bills that will help small business owners in Central New York – the “Incentivize Growth Now In Tomorrow’s Entrepreneurs (IGNITE) Act,” which helps entrepreneurs create a tax-free savings account to start their own small business similar to a Roth IRA retirement account. I also introduced the “Cutting Red Tape, Green Lighting Small Business Act” to provide incentives for small businesses to hire by instituting a one-year payroll tax credit.
We also must capitalize on the tremendous resources that are already here in Central New York. We have world-class universities, businesses and hospitals, and our area is home to a highly skilled workforce. Enabling people to travel to and from our region is essential to growing our companies and attracting talented people to start new businesses here. Infrastructure investment will create jobs today, and sets the stage for more economic growth in the long term.
During the Great Depression America built some of its most important and lasting infrastructure. The history of Central and Western New York offers tremendous insight into the value of useful investment in our future. In 1817, Governor Dewitt Clinton and the New York State Legislature passed bills providing $7 million to build the Erie Canal. Many so-called experts ridiculed them and called the Erie Canal “Clinton's Ditch.” By 1825 the Canal was up and running, and it immediately surpassed the maximum expected freight traffic. In the ensuing years the investment was paid back to New York many times over. Today, its beneficial effects in promoting the growth of the State and the National economy are uncontested.
In the years since the building of the Canal, Central New York has seen further waves of infrastructure development through freight and passenger rail, and the more recent introduction of the Interstate system. However, today our infrastructure is aging and it no longer serves our needs or the future of our economy. It's time that we make smart investments in our local infrastructure to ensure that we are fostering a climate for businesses to grow and have long-term success.