PLATTSBURGH — North Country Congressman William Owens has submitted his first bill in Washington, a plan to spur job creation in rural areas.
The Rural Jobs Tax Credit Act would give businesses a tax credit for expanding their payroll by at least the amount of inflation, which is usually 2 or 3 percent.
The credits would be for 15 percent of additions to payroll in 2010 and 10 percent in 2011. They would be doled out quarterly to give businesses increased cash flow.
"We want to create an environment where businesses have the tools to grow their payroll and employment," Owens said.
Potential employers would be eligible to receive the tax credit, regardless of where they are headquartered, as long as the new jobs being created are located within a rural community, such as upstate New York.
The bill defines a community as rural if it has a population of less than 50,000, which covers the entire 23rd Congressional District.
Owens said the tax credits could be a big advantage to small businesses, as well as to major employers in the area, such as Pfizer in Chazy and Rouses Point and General Motors in Massena.
"We'd like to see them employ more people or give some cash back to employees so it can be put back into the system so it is functional and helps with the recession."
The bill was submitted in Congress Wednesday night and will make its way through the process.
A similar bill has been introduced in the Senate, supported by New York Sen. Kirsten Gillibrand.
"I think we stand a good chance of getting this through," Owens said.
"I will be out there pushing for it."
E-mail Joe LoTemplio at: jlotemplio@pressrepublican.com
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