NY A02779

Department of Economic Development must conduct a comprehensive study on retaining small retail businesses and submit findings and recommendations to the governor and legislature within one year

Study must evaluate economic feasibility of granting money to communities for business retention plans, subsidizing entrepreneur education, implementing tax credits, guaranteeing low-interest loans, and creating a small business incentive program

Commissioner is directed to establish a pilot training program for small business owners and prospective owners through chambers of commerce and local business entities, with three-year authorization terms subject to commissioner approval

Sponsor organizations must submit proposals detailing the target population served, training methods provided, associated costs, expected benefits, and effectiveness measurement methods for commissioner approval

$210,000 appropriated to the Department of Economic Development, with not more than 15% of funds available for departmental costs, and commissioner must submit annual reports evaluating program effectiveness and recommending expansion to additional locations