Mayoral candidate and current city comptroller, Scott Stringer, unveiled a plan on Monday that would aid economic recovery in the five boroughs by pumping stimulus funding into support for small businesses.
In front of Settepani Restaurant at Lenox and 120th Street, said that while jobs have recovered slightly from the lowest point in the pandemic from nearly a million unemployed to the more current figure of about 625,000, Stringer plans to put just $1 billion into a program that provides grants of up to $100,000 to small businesses.
“As mayor, I will launch the NYC Recovery Now Fund, a $1 billion shot in the arm for our small businesses and nonprofits. That’s cash on hand, $20,000 to $100,000 grants, 85% of grants targeted to small businesses in the hardest-hit sectors,” Stringer said. “My plan is direct relief to sign the payroll tax, rehire employees that were let go and shake off the crushing weight of the back debt. That is what this stimulus program will be about a direct cash infusion to our small businesses.”
Stringer also plans to launch a portal through which enterprising New Yorkers can apply for commercial permits in one place and provide any businesses with outstanding violations to correct problems over a 30 day period without having to pay any fines. These items, according to Stringer, are in the interest of getting businesses up and running as soon as possible.
For-profit expeditors who mediate processes between businesses and government would also be eliminated and replaced with support and consultation services.
“The days of the intermediary to talk to government will be over in just a few months,” Stringer said.
Stringer committed to an overhaul of the minority and women-owned business program by doubling the city’s spending with these enterprises and appointing a chief diversity officer in every agency run by the mayor’s office.