Albany, NY – Today, as Chair of the Committee on Small Business, Assemblywoman Marianne Buttenschon (D-119) participated in the New York State Assembly Joint Budget Hearing on Economic Development and Small Business. The hearing brought together lawmakers to receive testimony from state officials such as Empire State Development President and CEO Hope Knight, and Acting Superintendent of the Department of Financial
Services Kaitlin Asrow, to examine the proposals set forth in Governor Kathy Hochul’s 2026-27 Executive Budget. “Today’s hearing addressed the Governor’s economic development agenda and the investments necessary to strengthen New York’s competitiveness, revitalize our communities, support small businesses, and build a future-ready workforce. As Chair of the Committee on Small Business, I am focused on ensuring our small businesses and entrepreneurs have the resources and support they need to succeed.”
The Governor’s Executive Budget has proposed targeted investments for small businesses, including $4.9 million in Entrepreneurial Assistance Program funding, $12 million for technology matching grant programs through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, and $5 million to support technology adoption for small and mid-sized manufacturers. Additionally, a Manufacturing
Modernization Program was proposed to provide small and mid-sized manufacturers with capital, expertise, and technical assistance in areas including AI adoption, tariff impact mitigation, and supply-chain optimization.
The hearing also addressed the Governor’s wider proposals to spur statewide economic development, including an appropriation of $188.4 million to continue statewide workforce development programs, $100 million to continue Downtown Revitalization Initiatives, $100 million in NY-Forward Program support, and $400 million for the New York Works Economic Development Fund. Additionally, the Executive has proposed $60 million to establish regional Quantum Technology Commercialization hubs throughout the state, as well as the $65 million Bolstering Biotech Initiative to support biotech innovation and the life sciences sector. “A strong economy is built on strong small businesses, a skilled and supported workforce, and vibrant communities where people want to live and work,” said Buttenschon. “I remain committed to ensuring that our economic development investments reach every corner of our district and our state, and that our small businesses and entrepreneurs have every opportunity and the necessary support needed to thrive.”
Engaging with testifiers, Assemblywoman Buttenschon first offered her gratitude to Commissioner Knight for her prior visits to the Mohawk Valley this past spring, before focusing on her inquiry into the usage of previously allocated Global Entrepreneurial Program funding and the overall effectiveness of and rate of return on government programs assisting small businesses. Assemblywoman Buttenschon further expressed the importance of continuing Empire State Development’s support of small businesses, the backbone of our State’s economy. In addition, the Assemblywoman highlighted the state supported bio-technical advancements of the Masonic Medical Research Institute and the upcoming opening of Chobani’s new production facility in Rome, as well as the collaboration between New York State Office of Mental Health Commissioner Dr. Anne Marie Sullivan and Empire State Development Commissioner Hope Knight in the development of local supportive housing projects.
Assemblywoman Buttenschon concluded by offering her appreciation for Commissioner Knight’s testimony and for ESD’s continued efforts to build a resilient, equitable, and future-ready economy for all New Yorkers. “I appreciate all those that testified today to provide the facts and expertise necessary to determine and prepare a One-House budget that best allocates resources and support for those in need,” said Assemblywoman Buttenschon. “I will continue to advocate for increased support for Small Business Development Centers, the New York State Innovation Hot Spots and Incubators as well as the Centers for Advanced Technologies and the Centers of Excellence, programs that are vital to connecting our universities, industries, and entrepreneurs with the resources and mentorship they need to grow.
However, investment alone is not enough. We must work to ensure that all our efforts meet our state’s workforce and business owners where they are, and that they are not only sustainable but both equitably distributed and meaningfully impactful, reaching every small business owner across our state.”
About Assemblywoman Marianne Buttenschon:
Assemblywoman Marianne Buttenschon proudly represents New York’s 119th Assembly District, encompassing the cities of Utica and Rome as well as the Towns of Floyd, Deerfield, Marcy, and Whitestown. From a lifelong educator and former Dean of Public Service and Emergency Preparedness at Mohawk Valley Community College, to a small family farm owner, Buttenschon brings decades of experience advocating for equity, access, and opportunity across public health, education, agriculture, and emergency services. In the Assembly, she serves as Chair of the Committee on Small Business and as a member of the Agriculture, Education, Higher Education, and Veterans’ Affairs Committees, where she champions bipartisan solutions to improve quality of life. Her work reflects a steadfast commitment to ensuring that every family in her district and beyond can live with dignity,
support, and a voice in their future.
