2001-11-15 / Other News

Seddio Says New Measures Geared For Post-9/11 Economic Development

Seddio Says New Measures Geared For Post-9/11 Economic Development

Assemblyman Frank SeddioAssemblyman Frank Seddio

New York State Assemblyman Frank Seddio announced last week the Assembly passed legislation that will help improve education, bolster the state’s economy and create jobs, improve the state’s long-term financial outlook, help maintain essential services, and begin to address the fiscal challenges presented by the September 11th terrorist attacks.

Seddio noted that the Assembly’s budget resolution passed in March called for a $3.4 billion increase in education aid over two years. In the first year alone, the Assembly proposal would have restored the governor’s $1.1 billion cut to education aid and added $200 million more.

"While the plan falls short of the original goals we set for New York’s working families and small businesses, it was the only step we could take given the fact that state revenues have fallen drastically since the attacks," Seddio said. "This plan will help stabilize our economy and allow us to continue striving to improve the lives of working families."

These targeted increases represent a commitment to economic development and job creation throughout New York, including helping those devastated by the September 11th attack, through additional job-creating Empire Zones across the state, supporting high-tech and bio-tech, and a major tourism initiative to bring visitors to New York.

In addition, the package includes authorization to move forward with the casinos in Western New York and the Catskills, which will create job opportunities and provide new revenue to the state and localities. It also authorizes video lottery terminals in various regions of the state.

"While I’m disappointed schools will not get the funding they truly need as outlined in the Assembly’s budget resolution, the budget will provide for restorations and additional support for key education programs of approximately $200 million in the 2001-02 school year," Seddio said. "The budget targets the most immediate and pressing educational needs." Under the plan, aid will be provided to restore educational programs that were not included in the governor’s proposed budget, although they were included in the previous year’s enacted budget.

In addition, $100 million is provided for grants for school districts, libraries and other educational institutions. The package also includes a series of amendments that will provide stability in the planning and management of school construction financing. Our plan includes a $100 million economic development package to help quickly re-ignite the economy," Seddio said. "It will help rebuild lower Manhattan while creating new high-tech, tourism and other jobs throughout the state." The plan also includes a measure ensuring that the New York Power Authority (NYPA) provides low-cost electricity to businesses in lower Manhattan or temporarily dislocated as a result of the destruction of the World Trade Center.

Seddio noted the budget also authorizes new gaming measures to boost tourism and the economy in Western New York and the Catskills, while helping offset the fiscal impact on state and local governments following the terrorist attacks. The law allows unions to organize certain employees at the casinos.

The gaming package also permits video terminals (VLTs) to be located at Aqueduct, Yonkers, and other racetracks around the state. The law also allows other harness tracks across New York the option to offer VTLs at their locations with the approval of the local counties. The initiative will help the state’s ailing racing industry, create jobs and generate $145 million or more annually in revenues to the state when fully implemented.

Return to top

Copyright© 2000 - 2017
Canarsie Courier Publications, Inc.
All Rights Reserved