Gov. Andrew M. Cuomo launched new
\n“GLOBAL NY” initiatives on Oct. 7 – including
\na $35 million Global NY Development Fund and
\ntrade missions to Mexico, Canada, Italy, China,
\nand Israel – to help create new jobs in New
\nYork state and attract additional international
\nbusiness investment to the state.<\/p>\n
Cuomo outlined these new initiatives at the
\nfirst Global NY Summit on World Trade and
\nInvestment at the Jacob K. Javits Convention
\nCenter in New York City.<\/p>\n
“The fundamental role for government
\nshould be to develop the economy, because if
\nthe economy is running, and jobs are coming
\nin, people have opportunity,” Cuomo said.
\n“Our work four years ago began with bringing
\ndown the cost of doing business in New York
\n– and we did, with the lower income taxes
\nfor every single New Yorker and the lowest
\nmanufacturing tax in nearly a century … We
\nwill aggressively market the state, and share
\nwith the global business community that
\nthere is no better place, with no better tools
\nand resources, than the Empire State to grow
\nand compete.”<\/p>\n
GlobalFoundries New York Chief Executive
\nDr. Thomas Caulfield said, “Advanced
\nmanufacturing offers the promise of economic
\nopportunity and serves as a catalyst for significant
\njob growth and economic expansion
\nthroughout our economy.<\/p>\n
“The unique and collaborative publicprivate
\npartnership between GlobalFoundries
\nand New York state has resulted in more
\nthan $10 billion of investment in our new
\nFab 8 campus in upstate New York. Our new
\nmanufacturing campus is now at the forefront
\nof a new renaissance of American advanced
\nmanufacturing, creating thousands of highpaying,
\nhigh-skilled jobs and driving the
\nregional economy. GlobalFoundries is proud to
\nbe part of the Global NY Summit and proud to
\nbe driving the momentum of new opportunities
\nin advanced manufacturing here in New
\nYork State.”<\/p>\n
The new Global NY initiatives that Governor
\nCuomo outlined at today’s summit, include:
\n$35 Million Global NY Development
\nFund. The fund will help small- and mediumsized
\nNew York companies tap into global
\nmarkets to grow their exports and create new
\njobs in our state. It includes the following initiatives, which will help spur additional
\nprivate investment above the state resources
\ndedicated:<\/p>\n
\u2022 $25 million Lending Program. Empire
\nState Development will dedicate $25 million
\nand work in partnership with more than 20
\nprivate lenders in the state to leverage at
\nleast $50 million of additional overall small
\nbusiness lending. The program is targeted to
\nsmall businesses that have had difficulty accessing
\ncredit markets and will provide loans
\nto help companies develop capacity to enter
\nnew markets.<\/p>\n
\u2022 $10 million grant fund to provide up to
\n$25,000 to small- and medium-sized firms
\nto develop export capacity, including export
\nmarketing plans, website translation, product
\nadaptation and market certification.<\/p>\n
\u2022 Partnership with the Federal Export\/
\nImport (Ex-Im) Bank. New York will partner
\nwith the Federal Ex-Im Bank to connect creditworthy
\nsmall businesses to export financing.
\nThe program will provide short-term loans of
\nup to $500,000.<\/p>\n
\u2022 Global NY Trade\/Investment Missions.
\nCuomo said the state will participate in five
\nnew trade missions to help connect New
\nYork businesses to export and international
\ninvestment opportunities. These include trade
\nmissions to Mexico, Canada, Italy, China, and
\nIsrael.<\/p>\n
\u2022 Global NY One-Stop Shop Website (global.
\nny.gov). Foreign and local businesses will now
\nhave one address to find out more about business
\nopportunities in our state and abroad that
\ncan help grow jobs in New York. At www.global.ny.gov, businesses can connect to START-UP
\nNY and other state incentive programs, learn
\nabout Regional Economic Development Councils
\nand their assets and industry specialties,
\nconnect with New York state’s trade offices all
\nover the world; and discover what makes New
\nYork the global state of opportunity.<\/p>\n
\u2022 New Taste NY Shop at Javits Convention
\nCenter. New York’s finest food and beverages
\nwill be available to consumers at the Javits
\nConvention Center, helping to raise the profiles
\nand sales of New York food and beverage
\nmakers. Drawing more than 2 million visitors
\nannually, the Javits Center will expose foreign
\nconsumers to the best products that the state
\nhas to offer.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gov. Andrew M. Cuomo launched new “GLOBAL NY” initiatives on Oct. 7 – including a $35 million Global NY Development Fund and trade missions to Mexico, Canada, Italy, China, and Israel – to help create new jobs in New…<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[66,118],"yoast_head":"\r\n