Her plan includes new tax credits to support food production
By Diego Flammini
New York Governor Kathy Hochul mentioned the state’s ag sector multiple times during her first State of the State address on Jan. 5.
In her speech, Gov. Hochul outlined new and expanded tax credits to support the industry and its labor challenges.
These include creating a new overtime tax credit.
This credit will be permanent, refundable, apply to any farm in the state, and is designed to help offset increased costs.
Gov. Hochul also promised to increase the Investment Tax Credit.
This credit will allow farmers “to purchase new equipment that could further automate their farms in response to the declining agriculture workforce,” the State’s website says.
In addition, Gov. Hochul’s government is supporting farm families.
Her State of the State included a commitment to increase support for Agribusiness Child Development Centers to “continue to provide the highest-quality early childhood education and social services to farm workers and other eligible families with infants, toddlers and preschoolers.”
To help farmers produce food in a climate-friendly manner, Gov. Hochul committed to expanding the Climate Resilient Farming (CRF) Program.
This program’s goal is to reduce the effects of agriculture on climate change and increase farm resiliency.
“But the CRF grant program has been oversubscribed during its last two rounds by approximately 50 percent,” Gov. Hochul said in her address.
Increasing program funding “will advance New York’s efforts to reduce agricultural greenhouse gases and advance on-farm and community-wide resiliency measures.”
New York’s ag community is pleased with the announced promises.
The investments and commitments will help the ag sector address challenges and move forward, said David Fisher, president of the New York Farm Bureau.
“Gov. Hochul announced sweeping investments for agriculture in her first State of the State address,” he said in a statement. “Her goals match what our farmers are seeking, a strengthening of our local food system, financial support for climate smart practices happening on farms across the state and easing the burden of rising labor costs that are crushing New York agriculture and limiting production. We applaud her for making agriculture a focus of her agenda.
New York’s farms play an essential role in feeding our state, providing good jobs on and off the farm, and supporting local economies. New York Farm Bureau looks forward to seeing the details in the governor’s budget proposal and working with her and the state legislature on these goals that will allow agriculture to grow for the benefit of our entire state.”