NY S03804

Repeals and replaces Article 9 of the Economic Development Law to establish entrepreneurship assistance centers at career education agencies and not-for-profit corporations to train minority group members, women, individuals with disabilities, dislocated workers, and veterans in business development and self-employment.

Department of Economic Development shall establish selection criteria for centers including level of community support, financial assistance, program goals understanding, supplemental funding plans, community need assessment, staff quality, and economic distress of service area.

Each center must be operated by a board of directors, incorporated as not-for-profit, located accessibly to clients, maintain an advisory group of business experts, and provide services including business concept analysis, market analysis, financial planning assistance, and referrals to financing and training resources.

Grants to centers limited to $75,000 per entity or consortium, with funds used for program directors, instructors, faculty, support personnel, and counseling services.

Department must monitor center performance and submit quarterly and annual reports to the Governor and Legislature, including an independent evaluation by January 1, 2019 and annually thereafter, assessing service to target populations and business startup success rates.