Assemblyman Santabarbara Helps Pass Bill to Provide Grants to Small Businesses
In an effort to provide local small businesses with much-needed capital, Assemblyman Angelo Santabarbara (D-Rotterdam) announced he helped pass legislation to create the New York State Innovative Energy and Environmental Technology Program (A.8900-A). The program would provide small businesses with grants of up to $100,000 to develop and commercialize energy and environmental technology innovations.
“Small businesses are incubators for many of the cutting-edge innovations and technologies that drive our economy and improve our environment,” said Assemblyman Santabarbara. “Unfortunately, many small businesses are constrained by a lack of upfront funding. This legislation would enable small businesses to develop innovative products in the energy and environmental sectors while helping them expand and create new jobs.”
The legislation would give qualified small businesses the opportunity to apply for grants of up to $100,000 – in a competitive process – to support emerging technologies that include methods to produce, distribute, conserve and store energy, with an emphasis on renewable sources like solar, wind, fuel cells, advanced hydroelectric and biomass power conversion technologies. Emerging environmental technologies include those that advance the sustainability or improve the efficiency of air, water and soil pollution control, waste management and environmental monitoring and recycling.
In their applications for the grants, small businesses would be required to describe the product, device, technique, system or process that is being developed, along with the estimated number of jobs that would be created and/or retained as a result.
This legislation is a part of Assemblyman Santabarbara’s ongoing effort and commitment to helping make New York more business friendly. This year’s state budget eliminated the income tax on manufacturers and provided them with a tax credit equal to 20 percent of their property tax cost, saving manufacturing businesses $100 million each year. The budget also eliminated an energy tax and provided incentives for local municipalities to lower property taxes.
Assemblyman Santabarbara is also advancing legislation to help small businesses “go green” and lower their energy costs by establishing a Small Business Energy Assistance and Advocacy Services Program (A.6640-B). The program would provide assistance to small business owners and entrepreneurs who are looking for ways to compare and choose energy-saving alternatives.