Buffalo News
ALBANY -– The state’s embattled manufacturing industry is about to get a major boost in the looming 2014 state budget, officials said Friday. A plan promoted originally by Gov. Andrew Cuomo to give upstate manufacturers their own tax cuts has been expanded statewide and will cost the state an estimated $193 million. The tax break reduces to a portion of the corporate income tax rate for manufacturers down to zero, officials close to the budget talks say. It also changes the definition of qualifying manufacturers to restrict the tax break to true “nuts and bolts’’ manufacturers, as one source said. More