ALBANY, NY (WRGB) — Assemblymembers gathered at the capital to assess the effectiveness of state-funded economic development programs. During a lengthy hearing, leaders heard testimonials about programs included in next year’s state budget. New York’s GDP, nearly $2.3 trillion, ranks as the third highest in the country. Leaders aim to continue this trend into the next fiscal year.
Hope Knight, president and CEO of Empire State Development (ESD), emphasized the importance of investing in programs to foster economic growth in New York.
“Our New York state economy is robust, and we need to invest in programs to create the economic environment for the economy to grow in New York state,” she said.
Knight expressed concerns about potential cuts or non-renewals for several programs in next year’s budget, including the Manufacturing Extension Partnership (MEP), which supports medium-sized manufacturers by enhancing tech innovation and growth.
Randy Wolken, president and CEO of the Manufacturers Association of Central New York (MACNY), stressed the importance of continued federal funding for MEP, describing it as a lifeline for many of New York’s manufacturers.
“They’re actually sorting through their supply chains now, figuring out where they should purchase, you know parts and materials for what they produce,” Wolken said. “So yeah, that kind of impact for small medium without the help from the MEP’s could be more difficult to secure the resources they need to make products.”
Knight plans to integrate artificial intelligence training into students’ curriculum, while Wolken highlighted the need to promote high-paying jobs with benefits in construction and manufacturing to address the affordability crisis and strengthen the economy.
“If we reach more students in high school, actually even before high school. Letting them know about these careers, they’re more likely to take the right learning, training and actually apply to these jobs even right out of high school,” Wolken said.
He urged parents to be aware of the current job market, noting the emergence of new positions and promising that advanced technology jobs are on the horizon for New York.