More than 1,000 support Upstate Revitalization Fund

On March 20, Rochester Business Alliance President and CEO Sandy Parker presented New York Gov. David Paterson with a list of 1,016 business, labor, agriculture, education, faith community and government leaders who have signed on in support of the $1 billion proposed Upstate Revitalization Fund.

Parker presented the list before scores of supporters gathered at Midtown Plaza today (March 20). At the news conference, Parker and the other supporters who spoke urged the state Assembly and Senate to work with Paterson to ensure this vital fund is included in the 2008-09 state budget, which is due April 1.

"While we recognize the need for prudent spending in the current economic climate, we feel this $1 billion investment in Upstate is essential to jumpstart the region's economy," Parker said. "A revitalized Upstate, generating jobs and revenue, will benefit all of New York State."

Parker cited a Center for Governmental Research memo that shows Upstate's annual revenue contributions to the state are about one-third less per person than what downstate contributes. A stronger Upstate economy could increase those revenues, narrowing the gap and contributing to an overall healthier New York state economy.

"We look forward to working with Gov. Paterson and his team to continue to improve the business climate in Upstate NY," said Darlene Kerr, president of the Greater Syracuse Chamber of Commerce. "We encourage the governor to continue to use his considerable skills as a consensus builder to reach a final agreement with lawmakers on a state budget that will control spending, reduce taxes and make the appropriate investments...like the Revitalization Fund, that will create economic opportunity for all going forward".

Parker also urged the Legislature to approve the full intact fund, rather than choosing to fund specific projects within it.

"Upstate is a diverse region, and this fund was designed to address those diverse needs, as identified by the communities leadership, be they in agriculture, manufacturing, infrastructure improvements or other areas, in a comprehensive fashion that will yield long-term results and create jobs," Parker said.

The proposed $1 billion Upstate Revitalization Fund proposal includes:

• $350 million for the Regional Blueprint Fund to provide capital for creating development ready sites, industrial parks, establishing small business loan programs, and supporting cutting edge research and job creation.
• $115 million for an expanded "City by City" strategy to include new projects and smaller cities to tailor economic development investments to fit local needs and jumpstart local economies;
• $100 million dollars for Upstate housing and community development;
• $50 million for agricultural programs which form the bedrock of so many local economies throughout Upstate;
• $80 million to restore New York's state parks - a major asset when it comes to attracting business and creating livable communities;
• $130 million for a variety of transportation projects; and
• $175 million for initiatives including expanded access to Universal Broadband, venture capital investments, and job creation.

"Part of the solution to changing the economic course Upstate is capital investment," said Catherine Glover, president and CEO of the Greater Binghamton Chamber of Commerce. "You see the President of the United States, the Congress and the Federal Reserve making investment in America to move the economy forward. I applaud Governor Paterson's effort to do the same thing in Upstate. We need investment and we need it now."

Parker said the Rochester Business Alliance will continue to elicit support for the fund. Anyone wishing to sign on should send an e-mail with their name and community of residence to Communications@RBAlliance.com.

"The list of supporters just continues to grow, a clear indication to me that Upstate residents want the Upstate Revitalization Fund included in the 2008 state budget," said Sandy Parker, president and CEO of the Rochester Business Alliance, which is gathering the supporters. "We want the state Legislature to know that we view this fund as an essential investment in Upstate, an investment that will spur our economy and create job. And in the end, that will benefit all of New York.

For the full list of endorsers, click here.