For businesses, a state of limbo as New York wrestles with economic development overhaul
Written by Written by Rob Lillpopp on January 27, 2010 – 8:03 am

Adam Sichko of the Albany Business Review recent story on the business climate in New York appeared in the Minneapolis St. Paul Business Journal here is some of what he wrote - “The turmoil with New York’s business tax incentives hit home late last year for Alan Boulant. Literally.

Boulant, president and founder of Solid Surface Craftsman Inc. in Glenville, borrowed $75,000 from his mother to pump emergency funds into his business. He took out a home equity loan to help pay her back.

The sudden budget gap appeared after the state revoked valuable Empire Zone tax credits. 2009 was already a terrible year, thanks to the comatose housing market, which had a weak appetite for the showers and countertops made at Boulant’s business.

Boulant’s case illustrates the upheaval going on with the state’s business incentives. And as bad as 2009 was for Boulant and thousands of other Empire Zone companies, this year is just as ominous…

“We are chasing companies away,” said Ken Adams, president and CEO of The Business Council of New York State Inc., the state’s best-known business lobby.”

To read the rest of the story click here.

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