Adams focused on initiatives by Governor Andrew Cuomo to attract businesses to New York.
Adams discussed creating tax incentives for new businesses in the state, arguing it isn’t a loss of revenue because the businesses wouldn’t have been in New York to pay taxes anyway.
An audience member criticized EDC for not promoting the help the agency could provide small businesses. According to the individual, the EDC has roughly 7 percent name recognition throughout the state, something Adams did not deny.
“We’ve got to do a better job at marketing the programs and services that I am describing,” Adams agreed, saying that most people know the group for large projects like Barclays Center or the redevelopment in Time Square. “I find that a sustained agency, when you want to provide that assistance to the lower level, it’s most helpful to work with partners.”
One audience member asked about the overuse of regulations with the potential for hurting small businesses.
“The last thing you want to do is get something going in Buffalo and then stifle the entrepreneurship with excessive regulations,” Adams said. “In my view, there is far too much regulation especially effecting small businesses.”
There has been growing concern as of late that the city is disproportionately targeting small businesses, slapping them with thousands of dollars in fines.
“It would be a interesting challenge for a new mayor to really do an honest assessment of what regulations matter, and what is just a burden,” Adams said.
Adams said state government is focused on helping grow businesses throughout New York State.
“When governor Cuomo wakes up the morning, it’s pretty much economic development” said Adams. “We get a lot of work from him.”