SURPLUS COULD JUMPSTART UPSTATE ECONOMY

            Assemblyman Steve Hawley (R,C,I-Batavia) said today that upstate economic development would be the best option for the state’s $610 million surplus, obtained as result of a recent bank settlement. Hawley criticized Gov. Cuomo’s proposed Upstate Revitalization Fund for pitting communities against each other and said surplus funding should be appropriated in a more equitable fashion. 

            “The surplus would best serve the people of this state by promoting economic revitalization in upstate New York,” said Hawley. “The governor’s competition plan is a misguided approach that pits communities against each other and creates three winners and four losers. By splitting this money evenly among the seven regions or combining it with the governor’s plan, we could ensure that more regions see tangible economic development. The state’s financial investments in businesses and local projects over the past several years have been hugely beneficial, especially in the rural areas of my district. This surplus funding should be invested back into upstate communities and support projects that will attract new businesses and jobs to many struggling areas of the state.”

            Hawley’s comments come after a press release issued by the New York State Department of Financial Services revealed that Commerzbank has paid a $610 million fine to New York State as part of a punitive package for financial and accountability crimes. 

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