2017-01-25 / Political Page

Kim Seeks $50M For Small Business Fund


Assembly Member Ron Kim announced that he would be seeking $50 million in funding to help New York’s struggling small businesses. He was joined by small business. Assembly Member Ron Kim announced that he would be seeking $50 million in funding to help New York’s struggling small businesses. He was joined by small business. Flanked by small business advocates and mom-and-pop storeowners, Assembly Member Ron Kim (D-Flushing) announced that he would be seeking $50 million in funding to help New York’s struggling small businesses. He will call on his fellow Assembly Members to join him in requesting that Assembly Speaker Carl Heastie add the stated amount to the 2017 State Budget. With the start of the new Legislative Session, he will spend the coming months in Albany advocating for the inclusion of this funding measure, as well as championing broader business-friendly policies to help New York’s mom-and-pop stores. He was joined by the Korean American Association of Greater New York, Chinese American Nail Salon Association, Korean American Dry Cleaners Association of New York, the Korean American Nail Salon Association, the Chinese Nail Salon Association of East America, and many local community members.

Citing the latest demographic data showing a net loss in the state’s population, Assembly Member Kim stated during his announcement on January 19th that in recent years small businesses no longer felt welcome in New York. He said the continuing outflow of small businesses and middle-class residents to other states highlighted a systemic issue, caused by both stringent regulations and a lack of institutional support for the middle class. In the past, New York’s state government created a fund known as the Financial Assistance to Businesses (FAB) program, as part of the Clean Water / Clean Air Bond Act of 1996, to help businesses comply with the latest environmental standards. The Assembly Member indicated that he would seek to revive a new version of this program to help small businesses struggling with strict regulations, particularly the dry cleaning and nail salon industries, which he estimated will suffer a combined loss of $230 million from the governor’s latest unilateral mandates.

Assembly Member Kim said: “Governor Cuomo has toured the state with the message of helping the middle class. Yet, there is a clear disconnect between his words and his actions. He has not walked the walk. Cuomo’s unilateral executive orders are costing dry cleaners and nail salons at least $230 million, potentially bankrupting hundreds of mom-and-pop shops who provide meaningful jobs to many immigrant families. In his proposed budget, he has not mentioned any kind of support for the small business community. My colleagues in the Assembly and I are asking this governor to follow his father’s footsteps and restore funding to financially assist small businesses to comply with up-to-date environmental codes.”

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