Missick Proposed Infrastructure Bank as a Part of the NY RISE Initiative

ROCHESTER, N.Y., Sept. 1, 2020 /PRNewswire/ -- Chris Missick, candidate for State Senate in the 55th District, announced his proposal to create a state infrastructure bank as a part of his multi-part plan for jobs and economic development in the Finger Lakes region. The plan, called RISE (Realigned Infrastructure Savings Enterprise) would authorize the creation of a "first in the nation" public-private bank along with a $3 billion bond act. The funding for the public side of the bank investment would come from defunding the $425 million Hollywood tax credit.

"By implementing my plan, we can invest $3.5 billion in our roads and bridges," said Chris Missick, Candidate for NY Senate (R-C-I-SAM, Victor). "According to the Federal Highway administration this will create over 81,000 new jobs."

The bank would be administered by an independent board made up of government and private sector appointees. Grants and loans would be specifically targeted to struggling urban and rural communities. This investment is desperately needed. According to the American Council of Engineering Companies, over 2,000 bridges in our state are in dire need of repair and 60% of our roads are in bad or mediocre condition. These poor conditions cost New Yorkers $19.5 billion a year in medical expenses and lost productivity.

Missick continued, "Safe and modern infrastructure isn't just limited to roads and bridges. Infrastructure projects including water treatment, hardening of the electrical grid, broadband, and affordable housing are vital parts of attracting new business and jobs to our region and our state. Hollywood does not need and should not receive one penny of taxpayer money. Let's take that money and invest it in ourselves and New York businesses through a dynamic and innovative infrastructure bank."

Missick pledged to introduce legislation to create and charter the bank and provide for a broad definition of infrastructure, authorize the bond act and defund Hollywood on his first day in office.

Chris Missick is a veteran of Operation Iraqi Freedom, a lawyer, and a small businesses owner. He owns and operates a vineyard and winery in the Finger Lakes region of New York. To read more about Chris Missick's platform go to votemissick.com.

Contact: Erin Loftus, 585-478-2858

SOURCE Missick for Senate

Related Links

http://www.votemissick.com