Issue Position: Economic Development

Issue Position

To enable communities to grow and prosper, proper encouragement must be provided to local businesses so that economic investments and developments can continue to grow. New York State's Gross State Product (GSP) is $822 billion a year, making it one of the largest economy in the world.

José Peralta spearheaded efforts to jump-start the local economy by supporting and funding the creation of the Business Outreach Center (BOC). Understanding that small businesses are the heart of the business community, José Peralta was influential in the development of a New Banking Development District in Corona. This new banking structure would allow local businesses access to banking services, eventually creating a positive cash flow that would enable local investors to open a new business or renovate their existing businesses.

Availing Opportunities To Our Workforce

At $958 Billion, New York's Gross Domestic Product ranks third in the U.S., and the State's per worker productivity surpasses the national average of 25%. So there are great possibilities within our local communities to establish the proper business structure that would allow them to fall in line with the State's economic potential. New York is ranked top on the list throughout the Nation in the number of degrees awarded in material sciences, computer sciences, electrical engineering, mathematics and mechanical engineering, among others. José Peralta will ensure that the over 350,000 scientists and engineers in the State join the rest of the talented and versatile workforce with the creation of special business programs that will incorporate all levels of production. Special tax reductions and incentives will be provided to those businesses who participate in these programs.

Small Businesses To Jump-Start The Economy

Small businesses account for over 99% of businesses in New York State and employ over 55 of the State's workforce. Small businesses are the backbone of the State's economy and we need to ensure that they get the support they need for continued growth. Jose Peralta will guarantee that these businesses have the support necessary to help them during these tough economic times. Extra support needs to be provided via the creation of Empire Zones, Empowerment Zones and EZ communities. In particular, women owned and minority based businesses need to get the extra boost they require to enable them to be competitive in today's market. These businesses have demonstrated continued growth in the past years and have traditionally been the precursors of more widespread funding in our communities because of the structure, cash flow and jobs they create.

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