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WTC Records Folder 0140 label, 2001

Machine-extracted title · confidence 100%

Archival folder label from the Office of the Mayor for World Trade Center records, identified as Folder 0140.

NYC-WTC_000136670–000136818

Folder label: “Folder 140

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Scanned page image, NYC-WTC_000136714
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NYC 9/11 Public Portal Document

NEW YORK STATE EMERGENCY ECONOMIC STABILIZATION PROGRAM As the magnitude of the physical, human and economic devastation suffered by New York City comes into clearer focus in the days and weeks following the World Trade Center disaster, so too does the impact on New York State as a whole.

Despite the national economic slowdown, as the result of six years of prudent fiscal management, New York was weathering the storm well. However, the attacks on September 11 crippled the State's financial services and tourism industries, among our two most significant sources of direct and indirect tax revenues. The fallout from these unexpected revenue losses now threatens the economic stability of businesses and communities statewide.

It is not enough for New York to simply rely on the Federal economic stimulus package as a buffer against hard times. The State, too, must target its increasingly scarce resources to stabilize and grow the economy. Accordingly, the State will establish a $100 million Emergency Economic Stabilization Program and enact several statutory changes that will immediately create and retain jobs, and increase economic activity statewide. Specific activities supported by this Program will include:

> Tourism promotion through the I Love New York marketing campaign.

> Grants and loans to businesses to support job creation or retention projects.

> Funding for business marketing and international trade promotion, to increase investment in New York State and to create business opportunities for New York companies.

> Comprehensive redevelopment initiatives for revitalization of distressed regions such as Niagara Falls.

> Workforce development and employment incentives, to provide retraining for dislocated workers or to enable employers to hire skilled workers.

Where appropriate the State will seek to be reimbursed with or leverage Federal funds for these initiatives. However, the need is so immediate and the State's commitment so strong that this Program will proceed regardless of the availability of such funds.

In addition, the State will enact legislation to speed the progress of job creating construction projects and protect New York businesses from future revenue losses due to State and national emergencies.

C:\windows\TEMP\4point stimulus plan.doc 17

NYC-WTC 000136714

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NYC-WTC_000136714Source: NYC Law Department, mirrored locally

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