NFIB presented testimony at a recent hearing held by the New York State Assembly Committee on Economic Development, Job Creation, Commerce, and Industry and the Assembly Committee on Small Business. The focus of the hearing was to assess the impact and effectiveness of New York’s economic development programs.
During its testimony, NFIB argued that the state’s current approach to economic development often favors certain industries or large businesses at the expense of small businesses. The organization pointed out that New York is projected to spend nearly $1 billion subsidizing the television and film industry. According to NFIB, this money comes from taxpayers and small business owners but primarily benefits film production companies rather than local small businesses. Additionally, NFIB noted that most state tax credits, grants, and financial incentives are not available to small businesses.
NFIB recommended that some of these funds be allocated directly to support small businesses. However, it emphasized that broader improvements are needed in the state’s business environment. In its testimony, NFIB stated: “generating a thriving economy does not require billions in subsidies and headline-grabbing projects but also relies on creating a better business environment with lower taxes, fewer regulations, and more affordable insurance.”
The organization continues to advocate for policy changes aimed at making it easier for small businesses to operate in New York. More information about NFIB’s position can be found by listening to testimony from Ashley Ranslow, NFIB’s New York State Director, at the Assembly Public Hearing on the Impact and Effectiveness of Economic Development Programs Funded in the Enacted 2025-26 State Budget.
