Authorizes commissioner of economic development to grant matching funds to eligible applicants to implement regional marketing programs as defined herein

Title of bill

An act to amend the economic development law, in relation to providing matching funds for eligible applicants in regional marketing programs

Purpose of the bill

This bill authorizes the Commissioner of Economic Development to grant matching funds to eligible applicants to implement regional marketing programs. The purpose of this bill is to stimulate and encourage economic activity in each region of the State.

Summary of specific provisions

§ 1- Amends the Economic Development Law by adding a new Article 12-A. The new Article 12-A:

-Creates a New York State Regional Marketing program at the Department of Economic Development;

-Provides matching funds to eligible regions whose counties encumber local funds to conduct regional advertising;

-Authorizes programs to promote regional resources, including natural resources and infrastructure, products manufactured by natural resources and infrastructure, products manufactured by strategic alliances of businesses or products manufactured in accordance with a "made in New York" quality control program;

-Limits matching funds to $500,000 or 50 percent of implementing the plan, whichever is less; and

-Proscribes the reference to or the name of any public official to include photographs, drawings, caricatures, quotations, signatures, invitations, endorsements or sound or video recordings.

§2 - Effective date.

Justification

New York State continues to lag behind the rest of the country, particularly our Northeast neighbors, in economic growth. Had New York's economy grown at the national average, we would have added nearly 500,000 new jobs. And much of the growth occurred in the downstate regions where nearly 80 percent of the new jobs were created during the last year. Yet despite New York State's mediocre performance, there is much to build on. New York continues to have one of the most dynamic economies in the world. With a variety of businesses and industries populating every county in the State and our diverse and well-trained workforce, New York should be a leader in job growth, small business start-ups and economic opportunity. A regionally focused business marketing program, in partnership with local stakeholders, would enable each region to promote its unique resources and market well-made New York products to the world, thereby strengthening regional economies by growing good-paying jobs in strategic industries.

Prior legislative history

2007-2008: A.2297/273; 2005-2006: A.3187/S.6882; 2003-2004: A.3514, 2001-2002: A. 1003/S.752, 2000: A.6486-A/S.4538-A.

Fiscal implications

The enactment of this bill would have no immediate effect on State finances as this bill does not contain an appropriation to support the program. However, using the existing local Tourism Matching Grant Program as a model, it is reasonable to anticipate that the New York State Regional Marketing program could require up to $5 million annually to effectively promote each region's unique resources and products.

Effective date

This act shall take effect immediately.