NY A04459

Repeals and replaces Article 9 of the Economic Development Law to establish a new framework for Entrepreneurship Assistance Centers that provide business training and counseling to minority group members, women, individuals with disabilities, and dislocated workers.

Authorizes the Department of Economic Development to establish and support entrepreneurship assistance centers at career education agencies and not-for-profit organizations, with maximum grants of $75,000 per center or consortium.

Requires centers to provide services including business plan development, market analysis, financial planning assistance, management counseling, and referrals to financing sources and business incubator facilities.

Mandates the Department to monitor center performance and submit annual reports to the Governor and Legislature by October 1st each year, and independent program evaluations by September 1st, 2012 and every four years thereafter.

Makes technical corrections to references in the Economic Development Law and Labor Law to update section citations related to entrepreneurship assistance programs.