Gov. Kathy Hochul proposed a "Billion Dollar Rescue Plan" to help small businesses – including bars and restaurants – endure through the pandemic.
Hochul, in her State of the State address on Wednesday, proposed a tax credit for restaurants' Covid-19-related purchases, such as outdoor heating and seating.
"Survival depends on whether they can create more space outdoors, a tough task during our New York winters," she said.
Hochul also proposed permanently legalizing the sale of "to-go" drinks for bars and restaurants, which she called a "critical revenue stream during the lean times last year."
Other small business and workforce ideas she proposed included:
• $100 million in tax relief for 195,000 small businesses, by widening eligibility and increasing a tax return adjustment that would reduce the gross business income of a small business.
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• Creating an Office of Workforce and Economic Development, to focus on region-specific workforce development needs.
• Making it easier to qualify as a minority and women-owned business enterprise.
• Expanding access to apprenticeships.
Matt Glynn
