Industrial Development Agency Reform - Bill A.8703
The Amherst Chamber of Commerce OPPOSES this bill.
Recently, the New York State Assembly passed a bill (A.8703) that would "reform" Industrial Development Agencies across the state in an effort to "increase the accountability and improve the efficiency and transparency of the operations of IDAs."
While the Amherst Chamber of Commerce always supports and advocates for accountability and transparency, this bill puts forth regulations such as prevailing wage and apprenticeship requirements that will be onerous to companies receiving financing from IDAs.
The prevailing wage component of this legislation is of top concern. This section would require projects with IDA funding to pay union wages for construction work. At prevailing wages, construction labor costs in some Upstate communities are 52% higher than in similar communities in other states, according to a study by the Center for Governmental Research, which was commissioned by the New York State Economic Development Council.
IDAs offer an economic tool to help jump start business growth in communities. Adding more regulations to companies receiving incentives increases costs and, in an area already overregulated, puts Western New York and the rest of Upstate at great disadvantage.
How can Western New York compete, much less survive, with mandates that make it near impossible to do business here?
We need to encourage development and business growth in Western New York, not burden businesses and organizations looking to grow with unnecessary mandates. Your help is needed to keep this legislation from moving forward.
Please email your New York State Senator and tell them you oppose bill A.8703. Emails for Western New York's Senate Delegation are listed at left.
Click here to view the Summary of Bill A.8703.
Click here to view entire Bill A.8730.
Thank you for your support!