Cuomo/Flickr
Governor Andrew Cuomo on Tuesday announced he will undertake trade missions to Israel, as well as to Mexico, Canada, Italy and China in his second term (if reelected), as part of new “GLOBAL NY” initiatives.
The $35 million Global NY Development Fund and trade missions will help create new jobs in New York State and attract additional international business investment to New York, Governor Cuomo said during a speech at the Jacob K. Javits Convention Center in Manhattan, NY.
The Global NY Summit included speech and panel discussions by political and civic leaders, international and domestic businesses, federal export officials, foreign partners and academic and community leaders.
“The fundamental role for government should be to develop the economy, because if the economy is running, and jobs are coming in, people have opportunity,” Cuomo said. “Our work four years ago began with bringing down the cost of doing business in New York – and we did, with the lower income taxes for every single New Yorker and the lowest manufacturing tax in nearly a century. Today is about opening new markets to the State, and we will aggressively market the State, and share with the global business community that there is no better place, with no better tools and resources, than the Empire State to grow and compete.”
The Global NY Development Fund includes a $25 million lending program that is targeted to small businesses that have had difficulty accessing credit markets and will provide loans to help companies develop capacity to enter new markets; a $10 million grant fund to provide up to $25,000 to small- and medium-sized firms to develop export capacity; and partnership with the Federal Ex-Im Bank to connect creditworthy small businesses to export financing in short-term loans of up to $500,000.
Read more about the summit and the initiatives here
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