Nate Andrews is MACNY board chair. Randy Wolken is MACNY president and CEO.
Our financial restoration continues. Nonetheless, it’s time to make sure very important industries develop right here in New York state as we construct again higher. The Covid-19 pandemic has specifically harm New York state producers. As well as, New York state producers proceed to be challenged by the present world provide chain disaster and the problem to find certified expertise. As a world business, manufacturing is especially affected by excessive taxes that make its New York state operations much less aggressive. New York state runs the actual threat of dropping good-paying manufacturing jobs, and 1000’s of jobs and corporations, if it doesn’t prolong tax parity to all producers within the state.
How do we all know this? Our members are each type of producer with many small and medium-sized firms. We work with them every day and listen to about their challenges and wishes. MACNY- The Producers Affiliation represents over 300 firms in a 26-county area in Central Upstate New York. It additionally leads the Producers Alliance with greater than 2,500 firms all through New York state.
In 2014, New York state created a development atmosphere for giant C Company producers. It spurred growth and made our state extra enticing to new companies. It allowed us to compete for the following technology of semiconductor chip fabs, inexperienced jobs, meals manufacturing services, and different high-tech manufacturing firms. This allowed our state to stay a prime 10 manufacturing state inside our nation. Whereas these measures proceed to make a distinction, it solely has benefited about 25% of our state’s producers. The remainder of our state’s manufactures nonetheless pay one of many highest tax charges within the nation. Consequently, many of those smaller, family-owned producers battle to maintain operations going. This yr’s state price range course of serves as an actual alternative to resolve this downside and proper the inequity. It’s time to offer all producers, and the 1000’s of hardworking people employed at them every day, the identical alternative to develop and make investments right here in New York state.
Laws launched within the state Meeting and Senate would prolong tax parity to New York’s small-to-medium-sized producers and permit all producers to develop and prosper in our communities. Now could be the yr to place this method into New York state’s price range. Tax parity would produce 1000’s of latest manufacturing jobs for underserved populations, financial advantages for our native communities, and great-paying careers for extra people. That is clever financial improvement at its best.
We’ve got so many alternatives to make our state stronger than ever. First, nonetheless, we have to seize development in all manufacturing and know-how. As we’ve discovered from the continued COVID pandemic, producers in New York rose to the problem to assist produce crucial provides. They want to New York state to assist them and put money into their development.
Be a part of me in telling your elected officers in any respect ranges that insurance policies to assist manufacturing job development, particularly tax parity for small and medium-sized producers, are actually extra crucial than ever. Subsequently, New York state should embody tax parity within the 2022-23 state price range.
Associated: NY Gov. Kathy Hochul proposes $2.3 billion in tax reduction for middle-class, small companies