NY A00816

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

Study must examine economic feasibility of grants to communities for business retention plans, subsidizing entrepreneur education programs, tax credits for small business owners, guaranteed low-interest loans, equipment upgrade funding, and creation of a small business incentive program.

Commissioner authorized to establish a pilot training program for small business owners and prospective owners, with chambers of commerce and local business entities submitting proposals for approval describing target populations, training methods, costs, and evaluation measures.

Program authorizations effective for three years and subject to annual reporting by the commissioner to the governor and legislature on program effectiveness and recommendations for expansion to additional state locations.

Appropriates $210,000 from the general fund to the Department of Economic Development, with no more than 15 percent of funds used for department administrative costs.