NY governor backs new export program, plans 6 international trade missions, including Cuba

Economic IndicatorsAssociated Press

Gov. Andrew Cuomo plans to launch a $35 million program to help New York companies export to established and emerging international markets while planning to lead trade missions in the coming year to Cuba, Mexico, Canada, Italy, China and Israel.

His budget proposal Wednesday would put $25 million in a lending program for small businesses intended to leverage $50 million in private lending to help them reach new markets.

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Another $10 million would provide $25,000 each for firms to design and implement export marketing plans.

The governor's office says Cuba, now preparing for an influx of tourists with the end of U.S. trade sanctions, imports more than 80 percent of its food and needs to have long neglected infrastructure rebuilt.