Public Hearing — Economic Development Programs in the Enacted 2025-26 State Budget (October 9, 2025)
Summary
A Notice of Public Hearing from the Assembly Standing Committee on Economic Development, Job Creation, Commerce, and Industry and the Assembly Standing Committee on Small Business. The subject is the impact and effectiveness of economic development programs funded in the enacted 2025-26 State Budget, to ensure they promote an equitable and inclusive economy. The hearing is set for Thursday, October 9, 2025, at 10 a.m. in Hearing Room C, Legislative Office Building, Albany, NY, with oral testimony by invitation only and limited to five minutes. The notice names programs run by the Department of Economic Development and Empire State Development, including RESTORE-NY, FAST-NY Shovel-Ready Grants, Green CHIPS and the Excelsior Jobs Tax Credit. It is signed by chairs Al Stirpe and Marianne Buttenschon, with a reply form due October 3, 2025.
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“Public Hearing — Economic Development Programs in the Enacted 2025-26 State Budget (October 9, 2025).”
Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/115240-20250915-ebef43e31b/
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ASSEMBLY STANDING COMMITTEE ON ECONOMIC DEVELOPMENT,
JOB CREATION, COMMERCE, AND INDUSTRY
ASSEMBLY STANDING COMMITTEE ON SMALL BUSINESS
SUBJECT: The impact and effectiveness of economic development programs funded in the
enacted 2025-26 State Budget
PURPOSE: To examine the impact and effectiveness of the economic development programs
funded in the enacted 2025-2026 State Budget to ensure that these programs
promote an equitable and inclusive economy and meet the needs of both new and
existing businesses, the workforce, and communities historically or currently
disproportionately impacted by economic pressures.
Thursday, October 9, 2025
10 a.m.
Hearing Room C
Legislative Office Building, Albany, NY
ORAL TESTIMONY BY INVITATION ONLY
The enacted 2025-26 New York State Budget provides funding for workforce development
programs that facilitate long-term business development and economic growth to determine their
overall effectiveness and to ensure that such programs are coordinated to support equitable and
inclusive policies. The Department of Economic Development (DED) and Empire State
Development (ESD) administer programs such as RESTORE-NY, FAST-NY Shovel-Ready
Grants, NY-CREATES, ON-RAMP, SBIR/STTR, Economic Development Fund, Excelsior Jobs
Tax Credit, Linked Deposit Loan Program, Green CHIPS, workforce development as well as
numerous grants, investment, and loan funds. Entities such as Technology Development
Organizations, Manufacturing Extension Partnership, Centers of Excellence, Centers for
Advanced Technology, Entrepreneurial Assistance Centers, Regional Economic Development
Councils, Innovation Hot Spots/Certified Incubators, Launch-NY AI Consortium, and numerous
other entities and programs that are supported by DED and ESD.
The Assembly Standing Committee on Economic Development, Job Creation, Commerce and
Industry and the Assembly Standing Committee on Small Business are seeking testimony as to the
effectiveness of the State funded economic development programs as it relates to promoting an
equitable and inclusive economy and ensuring that such programs are meeting the needs of both
new and existing businesses, the workforce, and communities historically or currently
disproportionately impacted by economic pressures. This hearing will also examine how programs
can be improved to provide a greater economic impact across the State and enhance their impact
in promoting equitable and inclusive policies.
Persons invited to present pertinent testimony to the Committees at the above hearing should
complete and return the enclosed reply form as soon as possible. It is important that the reply form
be fully completed and returned so that persons may be notified in the event of emergency
postponement or cancellation.
Oral testimony will be limited to five minutes’ duration. In preparing the order of witnesses, the
Committees will attempt to accommodate individual requests to speak at particular times in view
of special circumstances. These requests should be made on the attached reply form or
communicated to Committee staff as early as possible.
Ten copies of any prepared testimony should be submitted at the hearing registration desk. The
Committees would appreciate advance receipt of prepared statements.
Attendees and participants at any legislative public hearing should be aware that these proceedings
are video recorded. Their likenesses may be included in any video coverage shown on television
or the internet.
In order to further publicize these hearings, please inform interested parties and organizations of
the Committees’ interest in hearing testimony from all sources.
In order to meet the needs of those who may have a disability, the Assembly, in accordance with
its policy of non-discrimination on the basis of disability, as well as the 1990 Americans with
Disabilities Act (ADA), has made its facilities and services available to all individuals with
disabilities. For individuals with disabilities, accommodations will be provided, upon reasonable
request, to afford such individuals access and admission to Assembly facilities and activities.
Al Stirpe
Member of Assembly
Chair
Assembly Standing Committee on Economic Development,
Job Creation, Commerce, and Industry
Marianne Buttenschon
Member of Assembly
Chair
Assembly Standing Committee on Small Business
PUBLIC HEARING REPLY FORM
Persons invited to present testimony at the public hearing on the impact and effectiveness of
economic development programs funded in the enacted 2025-26 State Budget are requested to
complete this reply form by October 3, 2025, and email or fax it to:
Debra Jenkins, Principal Analyst
Assembly Committee on Economic Development
Room 520 - Capitol
Albany, New York 12248
Email: jenkinsd@nyassembly.gov
Phone: (518) 455-4928
Fax: (518) 455-5182
I plan to attend the following public hearing on the impact and effectiveness of economic
development programs funded in the enacted 2025-26 State Budget to be conducted by the
Assembly Standing Committee on Economic Development and the Assembly Standing
Committee on Small Business on October 9, 2025.
I have been invited to make a public statement at the hearing. My statement will be limited
to five minutes, and I will answer any questions which may arise. I will provide 10 copies
of my prepared statement.
I will address my remarks to the following subjects:
I do not plan to attend the above hearing.
I would like to be added to the Committee mailing list for notices and reports.
I would like to be removed from the Committee mailing list.
I will require assistance and/or handicapped accessibility information. Please specify the
type of assistance required: _________________________________________
_____________________________________________________________________
NAME: ______________________________________________________________________
TITLE: ______________________________________________________________________
ORGANIZATION: ____________________________________________________________
ADDRESS: __________________________________________________________________
E-MAIL: ____________________________________________________________________
TELEPHONE: ________________________________________________________________
FAX TELEPHONE: ___________________________________________________________
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