Report Calling for Immediate Action to Support New York’s Business Climate is Sparking Movement in Albany
Governor Hochul Includes Important Recommendations Outlined in the Blueprint Report in her 2026 State of the State and the Proposed Fiscal Budget
‘Blueprint for New York – Creating a Roadmap for Change’ was Compiled After One Year of Focus Groups with Over 500 Business Leaders and 40 Associations
Albany, NY (February 4, 2025) – An economic competitiveness report, released in the fall, calling for immediate action to improve New York’s business climate is sparking movement in Albany.
The report was commissioned by the Public Policy Institute of New York State, Inc., an affiliate of The Business Council of New York State, Inc. (BCNYS), and the New York State Economic Development Council (NYSEDC) to address the challenges facing our business community and identify solutions to improve our economic competitiveness.
The report, ‘Blueprint for New York – Creating a Roadmap for Change,’ called for improvements to address:
- Prohibitive regulatory and legal environment
- The high cost of doing business due to taxation as well as antiquated policies
- Lack of agency coordination, communication and accessibility
- Lack of modernized digitized public sector
- Population loss
- Pervasive Lack of support for the business community
- Energy policy
The Governor heard the call to action from New York’s businesses and has responded with legislative and funding proposals including:
- Exempting certain housing and infrastructure projects from SEQRA which will expedite project timelines and save nearly 10% on project costs
- Streamlining Environmental Impact Statements to Cut Down Review Timelines.
- Installing a two year “shot clock” for projects undergoing SEQRA review add clarity to project timelines
- Tackling Outdated and Burdensome Regulations through regulatory reform utilizing state technology like Empire AI
- Streamlining the public procurement process
- Utilizing AI to streamline permitting and procurement processes
- Investing in Quantum Technology Commercialization Hubs
- Modernizing the Public Authorities Reporting Information System (PARIS) to make project reporting easier
- Investing in New Nuclear energy to address rising energy demand
- Expediting major State infrastructure projects
- Tackling rising insurance costs
- Modernizing the Alcoholic Beverage Control Law
“We applaud Governor Hochul for recognizing the urgency of economic development issues and for incorporating our calls to action into her State of the State and budget proposals. These are critical first steps toward meaningful reforms that will promote and support business investment and job growth in communities across New York State. We look forward to working with the Governor and the Legislature to turn these commitments into real results for New York employers, employees and communities,” said Heather Mulligan, President & CEO, The Business Council of New York State.
“Over the last 18 months, we spoke to hundreds of business leaders, economic development professionals, and small business owners across New York to identify solutions to improve the business climate and our economic competitiveness. We applaud Governor Hochul for taking these important steps to protect and support New York’s business community and New York’s economy. It is essential that we continue to listen and take action so that the state’s economy prospers from Buffalo to Babylon for generations to come.” said Ryan Silva, Executive Director, New York State Economic Development Council.
Heather Briccetti Mulligan is the president and chief executive officer of The Business Council of New York State, Inc.
Ryan M. Silva is Executive Director of the New York State Economic Development Council.
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