The Governor has announced that up to $750 million in state funding and tax incentives will be awarded through the second round of Regional Economic Development Councils to support economic development, strategic plan implementation and job creation across the state. The second Regional Council competition will focus on the implementation of each region's strategic plan and identifying and investing in locally significant priority projects.
 
All 20 co-chairs of the ten Regional Councils wrote a joint letter to Governor Cuomo and the Lieutenant Governor, which is available here. 
 

Legislation meant to make it easier for small companies to obtain capital from investors is headed to President Barack Obama for his signature.
The House today passed the Jumpstart Our Business Startups Act by a 380-41 margin, accepting the changes made to the JOBS Act by the Senate last week.
The legislation will enable small businesses to use the Internet to raise up to $1 million in small investments from lots of people, a technique known as crowdfunding. It also will encourage more companies to go public by exempting them from some Securities and Exchange Commission regulations in the first five years after an initial public offering. Plus, companies will be able to offer up to $50 million in stock to the public without registering with the SEC, up from the previous threshold of $5 million.

Hire a veteran and save thousands of dollars with the Work Opportunity Tax Credit.

On February 9, the IRS issued a news release containing guidance and forms that employers can use to claim a newly expanded tax credit for hiring veterans. The Veterans Opportunity to Work (VOW) to Hire Heroes Act of 2011 (enacted Nov. 21) provides an expanded Work Opportunity Tax Credit for businesses that hire eligible unemployed veterans and, for the first time, makes the credit available to certain tax-exempt organizations.

The credit can be as high as $9,600 per veteran for for-profit employers or up to $6,240 for tax-exempt organizations. The amount of the credit depends on a number of factors, including the length of the unemployment period before hiring, hours worked and the amount of first-year wages paid. Employers who hire veterans with service-related disabilities may be eligible for the maximum credit.

The Tech Valley Global Business Network (TVGBN) is a volunteer-based collaboration of five area business membership organizations dedicated to providing education and networking opportunities for expanding international trade in New York's Tech Valley. TVGBN is open to any member of the Albany-Colonie, Rensselaer, Schenectady and Southern Saratoga Chambers of Commerce and the Center for Economic Growth.

This year, GBN is excited to continue hosting our programs, which contributes once more to increasing networking opportunities for companies in Tech Valley interested in international business. Find out more details about the upcoming TVGBN events from our Events page.  . For More Information, please visit www.tvgbn.org or contact the chamber at 274-7020