Home >
News >
Partnership Point-of-View >
2007 >
Workers Comp Savings
Twenty percent savings on Workers' Comp premiums! July 17, 2007
In my last e-mail, I talked about why we do what we do, and how important it is that we continue to advocate on behalf of, and raise awareness regarding, issues facing the business community in Buffalo Niagara. In this e-mail, I’m pleased to report that, as a direct result of our Unshackle Upstate advocacy priorities, the projected savings resulting from the Workers’ Compensation reform approved by the state legislature earlier this year are significantly higher than were originally forecast. Governor Spitzer’s office announced that Workers’ Comp-related premiums paid by businesses will be reduced by 20% as a result of the enacted legislation. This figure is well beyond the 12-15% that was initially expected and translates into a savings of about $1 billion for New York businesses in the ’07-’08 fiscal year. The victory – and in this instance, I am not using the word irreverently – is an excellent example of how our agenda and advocacy efforts continue to gain momentum even as we struggle in the face of an active anti-business political agenda in Albany. Our Unshackle Upstate coalition long ago identified Worker’s Comp reform as a key element of its platform. Coalition leadership believes that our efforts, which included getting reform legislation initially introduced last year (the Morelle-Alesi bill), highlighting this issue during last November’s elections and along with aggressive lobbying, were pivotal in gaining passage of this important savings to business. It is clear that our work on this issue helped lead to Albany’s action, and has positioned both the Partnership and our Unshackle Upstate coalition well to advocate for other meaningful business cost-saving reforms to invigorate the Upstate economy. I want to thank all of you for supporting Unshackle Upstate. The coalition has grown to 56 organizations representing more than 32,000 employers and a million workers. Moreover, you should be proud to know that Partnership members have been the most active in this effort. Indeed, it was your broad-based involvement in bringing Unshackle Upstate’s agenda to Albany’s attention that was critical in workers’ comp reform happening. This forebodes well for other issues going forward. Our work has only just begun, but with this announcement regarding workers’ comp savings, it is clear that our efforts can – and do – yield positive results for Upstate businesses!
Andrew J. Rudnick President & CEO
|
Workers Comp Savings
