New Study On Manufacturing in New York State
(WENY) -- A new study on Manufacturing is out and it sheds some new light on business here in New York State.
In the study "Manufacturing Executives: Attitudes, Operations, Expectations and Opportunites" manufactures still find business challenging here but they will continue to invest.
This new study was commissioned by the Manufacturing Alliance of New York State and the New York State Economic development council.
IT has revealed that the majority of Manufacturing executives are optimistic about business here in New York State.
70 Percent gave a good or fair rating that they will be able to maintain business.
While 30 percent believe that manufacturing in New York State is heading in the wrong direction.
A majority do believe that the push for broad base relief for manufacturers in reference to tax reduction is crucial for growth in New York State.
"It's critical that these important initiatives that we have in here," says Senator Tom O'Mara. "The income tax reductions, the property tax reductions, it's critical that we follow through and act these important measures to bolster manufacturing in New York State."
Randy Wolten, President of Manufacturers Alliance of New York State says this study bring light to manufacturing in New YorK state.
"These broad base discusiions going around about budgets, Ithink they have even a bigger impact on the exisiting manfacturers base beyond starts in New York," says Wolten. "Which I think can help small or start up companies as well as traction"
Governor Cuomo has proposed to give a 20 percent real property tax credit to manufacturers as well as eliminating corporate income tax.