ALBANY, NY (WRGB) — Lawmakers convened at the state capital to review the performance and future of publicly financed economic development efforts. During an extended legislative session, officials received testimony on various initiatives proposed for inclusion in the upcoming fiscal year’s budget. New York’s economy, with a gross domestic product approaching $2.3 trillion, holds the third-largest economic output among U.S. states. Policymakers are striving to sustain this momentum in the coming financial cycle.
Hope Knight, who leads Empire State Development (ESD), underscored the necessity of backing programs that stimulate business expansion and innovation across the state.
“Our New York state economy is robust, and we need to invest in programs to create the economic environment for the economy to grow in New York state,” she stated.
Knight voiced apprehension over possible reductions or expiration of key funding, particularly for the Manufacturing Extension Partnership (MEP). This initiative aids mid-sized manufacturing firms by advancing technological adoption and operational scalability.
Randy Wolken, head of the Manufacturers Association of Central New York (MACNY), emphasized that federal support for MEP remains critical, calling it essential for the survival and competitiveness of regional producers.
“They’re actually sorting through their supply chains now, figuring out where they should purchase, you know parts and materials for what they produce,” Wolken explained. “So yeah, that kind of impact for small medium without the help from the MEP’s could be more difficult to secure the resources they need to make products.”
Looking ahead, Knight intends to incorporate artificial intelligence education into school curricula, while Wolken advocated for greater outreach to young people about well-compensated careers in construction and manufacturing. He argued that such roles can help alleviate the housing affordability challenge and reinforce long-term economic resilience.
“If we reach more students in high school, actually even before high school. Letting them know about these careers, they’re more likely to take the right learning, training and actually apply to these jobs even right out of high school,” Wolken said.
He also encouraged parents to stay informed about evolving workforce demands, pointing to the rise of tech-driven occupations and the growing availability of advanced industry positions within the state.
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New York leaders examine future of state-funded economic programs
ALBANY, NY (WRGB) — Assemblymembers gathered at the capital to assess the effectiveness of state-funded economic development programs. During a lengthy hearing, leaders heard testimonials about programs included in next year ‘s state budget. New York ‘s GDP, nearly $2.3 trillion, ranks as the third highest in the country. Leaders aim to continue this trend into the next fiscal year. n nHope Knight, president and CEO of Empire State Development (ESD), emphasized the importance of investing in programs to foster economic growth in New York. n n”Our New York state economy is robust, and we need to invest in programs to create the economic environment for the economy to grow in New York state,” she said. n nKnight expressed concerns about potential cuts or non-renewals for several programs in next year ‘s budget, including the Manufacturing Extension Partnership (MEP), which supports medium-sized manufacturers by enhancing tech innovation and growth. n nRandy Wolken, president and CEO of the Manufacturers Association of Central New York (MACNY), stressed the importance of continued federal funding for MEP, describing it as a lifeline for many of New York ‘s manufacturers. n n”They’re actually sorting through their supply chains now, figuring out where they should purchase, you know parts and materials for what they produce,” Wolken said. “So yeah, that kind of impact for small medium without the help from the MEP’s could be more difficult to secure the resources they need to make products.” n nKnight plans to integrate artificial intelligence training into students ‘ curriculum, while Wolken highlighted the need to promote high-paying jobs with benefits in construction and manufacturing to address the affordability crisis and strengthen the economy. n n”If we reach more students in high school, actually even before high school. Letting them know about these careers, they’re more likely to take the right learning, training and actually apply to these jobs even right out of high school,” Wolken said. n nHe urged parents to be aware of the current job market, noting the emergence of new positions and promising that advanced technology jobs are on the horizon for New York.