Palmesano Joins O’Mara And Colleagues In Sponsoring Legislation To Spur Manufacturing Jobs In Southern Tier And Finger Lakes Regions

Assemblyman Phil Palmesano (R,C,I-Corning) has joined fellow legislators in calling for bold action to spur manufacturing job growth in upstate New York by sponsoring legislation that would provide an unprecedented tax break for manufacturers.

The bill (S.3562/A.3342), introduced in the Senate by Sen. Tom O’Mara (R,C-Big Flats) and in the Assembly by Assemblyman Robin D. Schimminger (D,C,I-Kenmore), proposes to phase out the franchise tax on manufacturers over two years. Phasing out this tax would save New York manufacturers upward of $300 million a year and lead to 3,000-plus well-paying jobs.

“I am very happy to join Sen. O’Mara and Assemblymembers Schimminger, Kolb and Oaks in acting as a sponsor of this legislation,” said Palmesano. “In the Southern Tier and Finger Lakes Regions, manufacturing-based jobs are a huge part of our local economies. The franchise tax is a major hindrance for our manufacturers to grow and create jobs. Eliminating this costly and burdensome tax would mean more jobs, allow our current manufacturers to expand and potentially lead to more manufacturers coming to New York and boosting our state’s economy even further.”

A January report from the Tax Foundation labeled New York as having the worst business tax climate in the nation, a problematic distinction as the state seeks to become more business friendly. Manufacturing in the state has been in decline over the past decade, with upstate being hit particularly hard, and this bill seeks to directly curb that decline.

Palmesano was re-elected in November to his second term in the Assembly. He now represents the new 132nd Assembly District which consists of the majority of Steuben County, all of Schuyler and Yates counties, and portions of Chemung (towns of Catlin, Erin, Van Etten and Veteran) and Seneca (towns of Covert, Lodi, Ovid and Romulus) counties.