NYS workers compensation premiums to decrease in 2019

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State Senator Fred Akshar is highlighting a ray of hope in what he otherwise calls an abysmal business climate in New York State.

Akshar held a news conference at Willow Run Foods in Kirkwood Wednesday to trumpet a sizeable decrease in workers compensation premiums that businesses will need to pay next year.

Those premiums are based on loss cost rates which will be going down by 11.7 percent next year.

That’s on top of a 4.5 percent drop for this year.

The Senator says reforming rules and regulations governing all business is a better means of economic development than targeted tax breaks to individual companies.

“These are issues that we must take on if we are going to make New York open for business.  Corporate welfare is not sustainable.  We have a place just across the street that received government subsidies for a very long time and when those subsidies no longer existed, what did Penguin Publishing do?  They left and they took all of their jobs with them,” said Akshar.

Members of local Chambers and the state’s Business Council praised Akshar for his persistence in fighting for recent reforms to the workers comp system that they say lead to the savings.

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