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NY A05224
Bill
Status
2/14/2011
Primary Sponsor
Darryl Towns
Click for details
AI Summary
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Amends the New York State Urban Development Corporation Act to authorize assistance for niche market assistance projects targeting small and medium-sized manufacturing or food processing businesses with fewer than 250 employees
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Defines "niche market" as a targeted market of individuals and businesses with similar interests and needs that can be readily identified and reached, or customer groups especially receptive to a company's product or service
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Eligible applicants include not-for-profit corporations, local development corporations, trade associations, educational institutions, and manufacturing extension programs that must demonstrate ability to provide services, potential for niche market development, self-sustainability, and local participation
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Eligible projects may include market research, market analysis, marketing assistance, and identifying financial assistance sources to help businesses enter new markets
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Individual grants for niche market assistance projects capped at $200,000, with awards made on a competitive basis subject to available appropriations
Legislative Description
Creates the niche market assistance projects for small businesses to identify and develop niche markets for their products in competitive environments.
Last Action
enacting clause stricken
3/9/2011